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AVIC International Maritime blames drop in new orders for 22% slide in first-quarter profits

The smaller Chinese shipbuilder continues to strengthen its foothold in the niche market for small and medium-size chemical tankers, gas carriers and ro-pax vessels although global uncertainties weighed on sentiment and new orders declined substantially in the first quarter. Deliveries are continuing apace but new orders have been slow

AVIC sees its Deltamarin design unit’s strength in high-tech, green vessels as giving it a competitive edge during volatile market cycles

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