ShippingWatch

The North Sea weighs down DFDS’ results

DFDS improved or maintained operating results in the third quarter in most business areas, but the results are overshadowed by a major decline in North Sea business.

Photo: DFDS

DFDS made USD 46.6 million before taxes in the third quarter 2012, compared to USD 56.7 million in profits in the same period last year. The decline in profits is primarily caused by the market developments of the North Sea, says the shipping company.

“The wheels of the European economies – and thus the transportation sector – turned a little slower in the 3rd quarter. This was to be predicted, and was included in our expectations for the year 2012, which we therefore maintain. However, we will probably cross the finish line at the lower end of the expected interval, as we are still, halfway through the 4th quarter, experiencing a weaker demand in Northern Europe,” says DFDS CEO Niels Smedegaard in a comment on the DFDS financial statements for the third quarter, presented on Thursday.

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

Höegh Autoliners joins climate coalition

Norwegian car carrier Höegh Autoliners enters climate alliance First Movers Coalition, also counting Maersk, as ”sustainability frontrunners within their sector.”

Maersk rejects shippers' complaint in USD 180m dispute

U Shippers has no case in a contractual dispute reported to the US Federal Maritime Commission, Maersk writes in a response to the FMC. Moreover, the case should not even be a matter for the commission, the company says.

Related articles

Latest news

See all jobs