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

Marine Electronics

Rederij Groen Takes Delivery of 7-Waves

Rederij Groen’s entire SRSV fleet built by Damen Maaskant Shipyards Stellendam. Dutch offshore services company Rederij Groen has taken delivery of the 7-Waves,

General Dynamics is Link Govt-level Security to Consumer Smartphone

General Dynamics C4 Systems recently received the Defense Mobile Classified Capability (DMCC) contract from the National Security Agency (NSA). As part of the contract,

Transas to Supply TechSim Solutions to SUNY Maritime

The Navsim Services and Transas Americas Team, have been awarded contracts for supply of a combination of full mission, classroom and cloud based Transas Technical

Finance

Areva-Siemens Raises Claim Over Finnish Reactor Delays

The French-German consortium Areva-Siemens , the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO),

Ezra Bags $70m in Offshore Contracts

Ezra Holdings Limited, a leading contractor and provider of integrated offshore solutions to the oil and gas industry, today announced that the Group’s Subsea Services division,

WFW Advises ING Bank on $340m Loan Facility for Euronav

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1458 sec (7 req/sec)