Danish-Flagged Merchant Fleet Bigger than Ever

The Danish-flagged merchant fleet has grown 13 per cent since the beginning of 2014 measured in GT and is now bigger than ever with 13.8 mill GT and 15.9 mill TDW distributed across 647 vessels, according to Danish Shipping Statistics for November 2014.

Danish Shipowners’ Association said that the growth has occurred despite a weakening Chinese economy and geopolitical tensions.

Since May the Danish merchant fleet including operated vessels has decreased by some 12 mill TDW and the total fleet now stand at 70.8 mill TDW.

Danish owned vessels flying foreign flags decreased by 3.3 mill TDW as Danish shipowners have sold foreign flagged vessels.

According to the Association, Danish shipowners are adapting to the weakening global economy and are exiting charter agreements. This flexibility allows Danish shipowners to stay competitive even when markets are turning sour.

The Danish flag is now the 14th biggest in the world, up from 16th in the latest instalment of Danish Shipping Statistics. The lower total figure means that Denmark is now the 8th largest shipping nation in the world, the Association said.

Danish shipowners have 99 vessels on order totalling about 60 bn. DKK (approx. USD 10 bn.), 3.1 mill GT and 3.8 mill TDW.

The newbuildings are primarily ordered in China and South Korea, but also in Japan.

Press Release; Image: DSA

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