Ship finance veteran Ingmar Loges has taken on the task of overseeing Newport Shipping's expansion into the German market.

The former shipping banker will take on the role of managing director of a new Hamburg office of the shiprepair specialist.

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It marks a shift of direction for Loges who will develop the financial and marketing strategy of the UK-based company.

Loges comes to the position after holding top jobs in the shipping desks of several European banks, including HSH Nordbank, UniCredit Bank and DVB Bank.