Despite the ongoing uncertainty, unrest and trade war, Danish shipping companies aim to remain resilient with a stable outlook for the next 12 months.
As stated, Danish Shipping surveyed the CEOs of 35 of the largest Danish shipping companies, with twenty-four responding, representing over 90% of Danish tonnage. Despite significant geopolitical unrest and an ongoing trade war, the shipping companies’ expectations for the next 12 months remain fairly stable and without major fluctuations.
Danish shipping companies are essentially ready to invest — especially in ships that can run on alternative fuels. But the industry is expected to hold back a little due to the current uncertainty in global markets. This should not be viewed as permanent caution — rather as prudent foresight given the current situation.
…explained Anne H. Steffensen, Director General and CEO, Danish Shipping.
This applies to freight rates, financing opportunities and the workforce. Only a slight dip is seen, for example, in investment expectations for new vessels, according to Danish Shipping.
Since the survey among Danish Shipping’s largest members was conducted, the US and China have agreed on a tariff truce.
According to Anne H. Steffensen, this highlights just how rapidly global market conditions are changing at the moment, stating that reality today is different than it was just two weeks ago. No one knows what the future holds for global trade but the shipping companies are not panicking.
Our ships sail where there are goods to be transported. Danish shipping companies are resilient and adaptable, and that’s why I’m optimistic that they will get through the current turbulence and uncertainty.
…said Steffensen.
