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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.

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