ShippingWatch

Otto Danielsen wants to operate banks' ships

In the future, the Norwegian-based carrier, Otto Danielsen, expects to work more for the banks by operating the ships from suffering shipping companies. Otto Danielsen expects to have much work in both Germany and Denmark.

The crisis of the shipping companies in Denmark, Europe and especially in Germany where an increasing number of KG-foundations struggle to finance their shipping operations may prove to be a growing business area for the small Danish carrier, Otto Danielsen. Otto Danielsen is owned by the Norwegian Tschudi Group which, in England, has already had a number of tasks offering technical assistance and management for banks which have taken over ships from shipping companies which have seen their economies collapse.

“In Denmark, we have also managed projects for a bank which was in the possession of two suffering ships. We operated the ships on behalf of the banks for a period of time and made sure that the ships sailed as they had done so far. That is a part of our business on which we are still much focused and we imagine that more of these opportunities will come”, Managing Director of Otto Danielsen, Søren Andersen, tells ShippingWatch.

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