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DANISH SHIPOWNERS’ ASSOCIATION
DENMARK AND SHIPPING
International Maritime Conference
24th September 2009
Managing Director Peter BjerregaardDanish Shipowners’ Association
DANISH SHIPOWNERS’ ASSOCIATION
Agenda
• Danish shipping
• Market
• Key challenges
• The future
DANISH SHIPOWNERS’ ASSOCIATION
Danish Shipowners’ Association
• Established 1884
• Trade and employers’ association
• Maritime house
DANISH SHIPOWNERS’ ASSOCIATION
Danish Shipping
• Blue Denmark employs 100,000
• Among five largest shipping nations
• Largest export industry in Denmark
• Around 3 % of GDP
• Annual investments at more than 1 billion EUR
DANISH SHIPOWNERS’ ASSOCIATION
10 years of growth
Foreign ExchangeBillion DKK 1997 - 2009
0
50
100
150
200
2001 2002 2003 2004 2005 2006 2008 2009
Tonnage(1.000) TDW
4.000
6.000
8.000
10.000
12.000
14.000
16.000
2000 2001 2002 2003 2004 2005 2006 2008 2012
DANISH SHIPOWNERS’ ASSOCIATION
Why has nobody seen the Financial Crisis coming?
Answer to the English Queen from Professor Tim Besley (London School of Economics) and Professor Peter Hennessy (Queen Mary, University of London):“To sum up, your Majesty, the lacking prediction of the timing, the size and the seriousness of the Financial Crisis is in principal a lack in the collective capability of intelligent people - both national and international – to understand the risks of the system as a whole.”
DANISH SHIPOWNERS’ ASSOCIATION
World Trade
January 2005 = 100
Month-month change (right)
Level
DANISH SHIPOWNERS’ ASSOCIATION
Product Tank Index
0
10
20
30
40
50
60
70
80
jan-08 feb-08 mar-08 apr-08 maj-08 jun-08 jul-08 aug-08 sep-08 okt-08 nov-08 dec-08 jan-09 feb-09 mar-09 apr-09 maj-09 jun-09 jul-09 aug-09
DANISH SHIPOWNERS’ ASSOCIATION
What is important for the Danish Shipowners’ Association?
• Response to the crisis should not cause long term damage
• Finance• State Aid• Protectionism
“Aid from the Government for continuation of the Scandinavia-America Line……. is incompatible with Danish Shipping’s interest in the long term. This should outweigh the consideration of maintaining a Danish America Line.”
(Danish Shipowners’ Association 1935)
DANISH SHIPOWNERS’ ASSOCIATION
50 g CO2 per ton per km
3 g CO2 per ton per km
Air transport 3%Shipping 3%
Industry and other 36%
Electricity and heating 41%
Road Transport 17%
Shipping is CO2 friendly, but will be regulated
DANISH SHIPOWNERS’ ASSOCIATION
Shipping is environmentally friendly but will be even better.
2008
2010
2012
2014
2016
2018
2020
2022
2024
0
0,5
1
1,5
2
2,5
3
3,5
4
4,5
5
%
year
IMO - SOx Reduction
ECA limit Global limit
DANISH SHIPOWNERS’ ASSOCIATION
Many other challenges
• Piracy
• Research
• Recruitment
• Ensure national and European understanding of the international character of shipping
DANISH SHIPOWNERS’ ASSOCIATION
We will also survive this crisis
0
100
200
300
400
500
600
700
8001
74
1
17
62
17
83
18
04
18
25
18
46
18
67
18
88
19
09
19
30
19
51
19
72
19
93
Freight Index 1676=100
DANISH SHIPOWNERS’ ASSOCIATION
Beginning optimism
Source: IMF
DANISH SHIPOWNERS’ ASSOCIATION
Thank you. Questions?
Managing Director Peter BjerregaardDanish Shipowners’ Association
Amaliegade 33DK-1256 Copenhagen K
Tel: +45 33 11 40 88E-mail: pb@shipowners.dk
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