ShippingWatch

Owner of Otto Danielsen: Denmark has no more to offer

Norwegian Tschudi Shipping Company AS, which owns the originally Danish shipping company Otto Danielsen, has no more interest in Denmark. The market is too mature, says CEO Jon Edvard Sundnes to ShippingWatch.

Tschudi Shipping Company bought the shipping company Otto Danielsen – still located in Denmark – back in 2005. The company has since then become a part of the Norwegian business, primarily controlling container and multipurpose activities, and Tschudi Shipping is very pleased with this. But the acquisition will remain the company’s sole Danish purchase.

“Our reason for investing in Otto Danielsen was a wish to attach ourselves to a specific set of competencies. We may find another, similar reason to invest in Denmark in the future. Another reason to increase the presence in a country is if we see good growth opportunities in that country. But in the current economical climate, we see no particular growth markets in Denmark from where we stand and where we work,” says CEO Jon Edvard Sundnes of Tschudi Shipping Group.

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