ShippingWatch

Danish shipping company Dannebrog Rederi saw 2011 deficit of USD 9.4 million

Dannebrog Rederi had a 2011 deficit of USD 9.4 million, but the shipping company is back in black in 2012, says Chairman Johan Wedell-Wedellsborg to ShippingWatch.

Photo: Nordic Tankers

Dannebrog Rederi had a bottom line deficit for 2011, which makes it three years in a row for the company. Last year, the deficit was USD 9.4 million, but even though the result for 2011 is not uplifting, 2012 is looking good for the company, says Chairman Johan Wedell-Wedellsborg to ShippingWatch.

“Things could have been better. Dannebrog reached operational break-even in 2011, but then we simply decided to perform major impairments. That’s never pleasant, but it leaves us better off this year, and things are certainly looking good so far. We are in plus for the first six months,” says Johan Wedell-Wedellsborg.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Daewoo Shipbuilding makes deal with conglomerate on conditional sale

Shipbuilding group DSME has signed a memorandum of understanding with conglomerate Hanwha Group about a sale of Korea Development Bank’s 50-percent equity position, according to a news agency. The state-owned bank has previously stated that the yard ought to be sold quickly. Updated.

Latest news

See all jobs