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 Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Electronics

Raytheon Anschütz Succeeds in SYNTACS SAT

Raytheon Anschütz, a leading integrator of naval integrated bridge systems, has successfully completed the Sea Acceptance Test (SAT) for the Synapsis Tactical Command

IMMA App Offers Access to Maritime Medical Stores

Deteriorating seafarer health and poorly-stocked onboard medical chests are major issues concerning maritime medical practitioners, which is why the International

Available: 300 Free Systems; Wanted: 300 Ships

Which will be the first 300 ships in the world to test and validate Sea Traffic Management (STM) with updated systems free-of-charge?   As the shipping domain


Canada to Aid Developing Nations Fight Climate Change

Canada will provide aid to developing countries to combat climate change, Prime Minister Justin Trudeau announced on Friday ahead of talks on global warming,

Gates to Launch Mega Clean Tech Initiative

Microsoft co-founder Bill Gates will launch a multi-billion-dollar clean energy research and development initiative on Monday, the opening day of the U.N. climate change summit in Paris,

Extended Warranty from Yanmar for Sailboat Engines

Yanmar Marine International B.V. has introduced an extended 3 years’ period of YANMAR Limited Warranty for Sailboat Engine Models. This extended warranty of

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.0720 sec (14 req/sec)