After four years of record results, DFDS is starting to feel the consequences of the UK's decision to leave the EU. "We hope that the British remain in a moderate state of growth and do not enter a recession," CEO Niels Smedegaard tells ShippingWatch after Thursday's annual report.
DFDS is satisfied with its decision to use scrubbers to rinse vessel emissions. "It has been the right choice for us, but it might not necessarily be so for our neighbor," Poul Woodall, head of environment and sustainability at DFDS, tells ShippingWatch.
There is no doubt at DFDS: Today's hackers are so good that it is simply a matter of time before they wreak havoc at the carrier. CFO Torben Carlsen tells ShippingWatch how DFDS can best protect itself against the threat.
Is it possible to listen too much when collaborating? Yes, at times, says Executive VP Peder Gellert Pedersen of DFDS. For instance in the executive group. "I've been too attentive rather than forcing decisions through," he says in ShippingWatch's series on leadership.
The second quarter was historically good for DFDS which also bought new vessels during the period. CEO Niels Smedegaard tells ShippingWatch that there are two acquisitions in the pipeline, which he hopes to land this year. "It is a nice situation to be in," he says.
DFDS increased its operating profit by 12 percent in the second quarter to DKK 495 million, according to the interim report. "We are pleased with our steady progress and remain on track to improve on the record result of last year," says CEO Smedegaard.
Next week will bring Q2 interim reports from the heavy hitters in Danish shipping for a first half-year which saw positive developments in container and bulk, while the tanker market is challenged by weak rates and too many vessels. The Maersk report is widely seen as a test of Søren Skou after one year as Group CEO.
"We were too slow," says DFDS' VP of Communications, Gert Jakobsen, about the case in which the Danish carrier was accused of wage dumping earlier this year. Crisis management is just one of the purposes of communication in the maritime sphere.
DFDS grew in the first quarter 2017 on revenue as well as earnings compared to the same period 2016. "Combined with a continued positive outlook for growth in Europe, we are on track in 2017 to further improve on the all-time high results of last year," says CEO Smedegaard.
Michael Fiorini is stepping down from his position as deputy chairman of the board at Lauritzen Fonden. Fiorini was the head of Denmark's East Asiatic Company from 1992 to 1996. He will now be replaced by another prominent shipping figure.
Maersk Group made waves this week when the Danish conglomerate presented a big deficit for 2016 and Chairman Michael Pram Rasmussen announced that he was stepping down. DFDS and DSV did better and delivered major profits.
Despite political uncertainties in Europe, the financials are actually improving, says DFDS CEO Niels Smedegaard in an interview with ShippingWatch following publication of the carrier's 2016 annual report. He believes better days are coming for the eurozone.
Everything has improved for shipping and logistics group DFDS in recent years, but the company has yet to deliver in terms of acquisitions. 2017 will change this fact, says DFDS Chief Exec Niels Smedegaard: "We have billions of kroner in our war chest."
Executive colleagues say that he has a keen intuition. But the former military man describes himself as somewhat of a control freak. ShippingWatch portrays the second of two highly successful chief executives in the transport sector in 2016: DFDS CEO Niels Smedegaard.
German shipyard Flensburger Schiffbau-Gesellschaft (FSG) plans to save millions of euros through a large-scale cost savings plan which will include wage reductions and firings. The plan ensures full financing for the orderbook, which includes two RoRo vessels for DFDS.