ShippingWatch

Jens Grønning: Our expansion plan remains intact

A disappointing start to 2014 does not change Eitzen Chemical's long-term ambitions, CEO Jens Grønning tells ShippingWatch: "When the planned debt restructuring has been settled, the focus will be on growth and acquisitions," he says.

"Disappointing" is all Eitzen Chemical CEO Jens Grønning has to say about the major chemical carrier's financial result in the 1st quarter 2014.

But the market developed differently than predicted by most, and the weather also had a negative impact, especially for the ships operating on the Atlantic, Western Europe, and North America. This affected the carrier's ships, as they had to use more fuel at sea while also losing time. Market-wise, the climate in North America played a negative part through fewer cargoes for the export markets, as the United States needed the energy for itself.

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