Denmark Shipping Industry Eyes Brighter Days

Tuesday, May 23, 2000
Denmark's shipping industry looks set for better times thanks to the economic recovery in Asia and the strengthening dollar, the Danish Shipowners' Association said. Association chairman Steen Krabbe said 2000 is expected to not only bring stabilization but also an improvement for the shipping sector.

In 1999, Denmark's 600-vessel merchant fleet was the country's second biggest foreign currency earner, after manufacturing industry, generating turnover equivalent to $6.1 billion, up from $5.6 billion in 1998.

"The trend we have seen in the past year will continue into 2001 and 2002, this means steadily increasing foreign currency earnings," Krabbe said.

The strong dollar was mainly responsible for the favorable trend, with growing cargo volumes lending a helping hand. But an anticipated rise in freight rates had not yet materialized, the association said. This was partly due to excess capacity caused largely by heavily subsidized newbuilding activity at South Korean shipyards, the Danish shipping lobby said, adding that it hoped that market forces would be allowed free play in a liberalized market.

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Electronics

Nigeria Maritime Academy Gets Bridge Simulator

A NAUTIS Full Mission Bridge Simulator was purchased and delivered to the Maritime Academy of Nigeria in Oron. The new simulator will be used to provide qualitative

KVH Precision Sensors for Geodetics' Inertial Navigation Systems

KVH Industries entered into a strategic partnership with Geodetics Inc., a leader in the development of real-time, high-precision position and navigation solutions.

A New Standard in Marine Communications

KVH provides and Harvey Gulf employs possibly the most sophisticated on-board SATCOM and related service package on the water. That’s no accident.     If quality service,

Finance

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Canaveral Tops State List for Sand Bypass Funding

The Canaveral Harbor Inlet Sand Bypass Project has earned the top state ranking for 2014/15 inlet management funding. As a result, Port Canaveral is expected to receive $100,

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0973 sec (10 req/sec)