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12. May 2021

News

Good start of the year for Shipping

Despite corona, Danish shipping reaches the highest export level for the first quarter of the year ever.

A recent publication on exports from Statistics Denmark shows that shipping exported for DKK 62.8 billion in Q1and maritime transport thus accounts for 20.1 per cent of the total Danish export during this period of time.

“Danish shipping has had a successful start of the year. The willingness to purchase is big and it creates a need for transport of goods across countries and continents. Danish shipping companies are doing great and right now Danish shipping accounts for more than a fifth of the total Danish export. We are honestly impressed by that ourselves,” says Anne H. Steffensen, director general and CEO of Danish Shipping.

Export in the same period last year amounted to DKK 62.25 billion and although it could seem to be almost the same as the result in Q1 this year, it is a fine result because the US dollar, in which the majority of cargoes are settled, has fallen more 10 per cent in relation to the Danish krone.

“Overall, it’s the best year ever. Some segments of the shipping industry such as ferries and tankers are still highly challenged due to COVID-19. But overall, there is good progress despite difficult conditions in some segments,” says Anne H. Steffensen.

The positive first quarter of 2021 is especially due to good activity in the container market and a good dry cargo market driven by high cargo rates in the first quarter of 2021.

According to the international shipping database, Clarksons container rates have risen by 60 per cent from first quarter of 2020 to first quarter of 2021 while dry cargo rates are as much as 2.5 times higher.

Looking back at the first quarter of 2019, before the world was hit by COVID-9, exports amounted to DKK 58.9 billion for maritime transport.