Boom times in the shipping market have generated record profits for companies in Scandinavia, a region that plays host to some of the world’s biggest shipowning groups and that also has a flourishing shipping services sector.
However, while market prospects appear bright, there remain significant strategic policy challenges for shipping companies that are casting clouds on the long-term horizon. Topping the list of industry concerns is the high operating costs faced by shipowners in this part of the world, compromising their competitive edge relative to their counterparts in continental Europe. Our Around the Globe feature starting on page 8 in this issue of DNV Classification News provides an insight into some of the challenges currently being faced by Scandinavian shipowners.
But is it all “boom and gloom”? Not so, according to DNV Maritime’s chief operating officer Tor E. Svensen. Speaking at the recent Nordic Committee for Safety at Sea meeting (page 20) he emphasised that a growing number of owners are looking to new markets. Current areas of interest include developments in LNG and ice-class operations, in line with expanding markets.
Indeed, the world fleet of ice-strengthened ships continues to grow at a phenomenal rate. Triggered by the booming Russian oil industry and red-hot tanker rates, analysts predict that the trend will continue, with levels of investment in ice-class tankers expected to reach new heights over the coming decade.
With demand buoyant, owners are focusing more on high-spec vessels and “winterisation” aspects of cold-climate shipping. DNV is playing an active part in developments, and you can read more about some of these in our special feature on pages 14-17.
We hope you find the articles in this issue of DNV Classification News interesting and useful.
Date: 2005-06-09