A new Danish shipping company that aims to launch a low price container ship business model is possibly on the way to raise an investment from the Norwegian multi-billionaire and shipping magnate John Fredriksen, reports financial daily newspaper Børsen.
The Containership Company (TCC), founded by Jakob Tolstrup-Møller and Franck Kayser, expects to be ready to start operation in 2010. "We are currently negotiating with some owners of container ships, and we are talking to several investors, including John Fredriksen," says Tolstrup-Møller, who declines to disclose the name of the investors, but says they are "international groupings".
The market for container shipping is currently in a trough due to the global economic crisis having a significant impact on the demand for ship transportation. But the founders of TCC believes that it is possible to start a new shipping company during a crisis.
"We think we can create earnings in the container ship market by making it simple. We are not going to compete with Maersk Line because they have a very developed concept, where our concept is simple and focused on transport from port to port," says Tolstrup-Møller.
For competitive reasons, Tolstrup-Møller will not reveal which routes TCC aims to sail, but according to Lloyd's List, the company is currently recruiting staff, including former executives in A.P.Moller - Maersk, for its offices in both Denmark and the US, which could indicate that TCC plans to focus on routes across the Atlantic Ocean.