Denmark's merchant fleet forecast to grow by 50% in 5 years  

With 300 ships currently on order, the Danish Shipowners' Association forecasts that Denmark's merchant fleet is expected to grow by 50% over the next 5 years
Jan Fritz Hansen, deputy director of the Danish Shipowners' Association, announced at press meeting held at Kalundborg harbour Wednesday this week, that the Danish merchant fleet is expected to grow by 50% over the next 5 years. Danish shipping companies currently have 300 ships on order at shipyards worldwide, corresponding to over 5% of shipbuilding contracts worldwide.
Danish shipping companies already transport 10% of global sea freight, but the Danish Shipowners' Association aims to increase that figure to 15% and is on course for achieving it, thus fulfilling the government's ambition to see Denmark become Europe's leading maritime nation.
Danish shipping companies earned DKK 160 bn (USD 30 bn) in 2006. With the current tempo of growth the 2007 figure is expected to top DKK 180 bn (USD 33.7 bn) despite the weakness of the dollar. The average age of the Danish merchant fleet is seven years, compared to a world average of about 13 years.
The news was reported by
As previously reported on this website, financial daily newspaper Børsen has hinted that among foreign shipping companies possibly eyeing Denmark as an attractive place to establish a business is the Bahamas-based tanker company Teekay, headquartered in Canada, which together with the Danish shipping company Torm recently acquired the US competitor OMI. Japanese shipping companies are also reported to be interested in Denmark as a potential base.

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