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.


Marine Electronics

Ocean Signal, AMI Marine Unveil E101V Float-Free EPIRB

Marine communications specialist Ocean Signal and VDR manufacturer AMI Marine will introduce a new float-free EPIRB with integrated voyage data recorder (VDR) memory

iNavX Debuts IN-APP Charts, Maps Purchase Capability

iNavX, the benchmark marine navigation mobile application, in partnership with Fugawi X-Traverse, today launched its chart and map in-app purchase program. Now

Hoppe Marine to Present Smart Shipping Solutions

For decades, Hamburg-based Hoppe Marine has produced onboard measuring and control systems. At SMM 2016 the internationally-positioned family-run company will be

Finance

European Owners Lead in Buying Up Secondhand Tonnage

With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited.

Monjasa Bags Credit Facility from Société Générale

Danish bunker fuel supplier and shipping firm Monjasa has signed a credit facility with French bank Société Générale for USD 80 million.    A statement from

Hanjin Shipping to Submit Self-Rescue Plan

South Korea’s Hanjin Shipping is planning on submitting a self-rescue plan to creditors this week to stave off bankruptcy by Aug. 25, reports Korea Herald quoting local media.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.0629 sec (16 req/sec)