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Lauritzen Foundation: We have to dig into our pockets

The Lauritzen Foundation is preparing to yet again "dig into its pockets," as the fund's manager Bent Østergaard tells business daily Berlingske Business. Another hard year ahead for the struggling dry bulk carrier.

Photo: J. Lauritzen

Carrier J. Lauritzen's owner is getting ready for another tough year, with the past four years alone having cost the carrier more than USD 700 million. And if the carrier is to survive, the Lauritzen Foundation will have to help.

"We support J. Lauritzen, and we can't do that without digging into the foundation's pockets. We expect that J. Lauritzen will lose around USD 200 million this year, so we have to face the fact that it's going to be another tough year," Bent Østergaard, manager of the Lauritzen Foundation as well as chairman of both J. Lauritzen and DFDS, tells Danish daily Berlingske Business.

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