Carriers

Nordic shipping dynasties share a similar fate in oil downturn

After profiting significantly on the oil price boom, Nordic shipping families such as Mærsk and Fredriksen have seen billions of kroner vanish during the profound crisis in the drilling sector. Maersk Drilling alone has seen its market value plunge by DKK 18 billion.
Two of the most prominent maritime dynasties in the Nordics are the Danish Mærsk family and the Norwegian-Cypriot Fredriksen family. Both have seen billions of kroner dissapear during the profound crisis in the drilling sector. | Photo: Tycho Gregers/Ints Kalnins/Reuters/Ritzau Scanpix
Two of the most prominent maritime dynasties in the Nordics are the Danish Mærsk family and the Norwegian-Cypriot Fredriksen family. Both have seen billions of kroner dissapear during the profound crisis in the drilling sector. | Photo: Tycho Gregers/Ints Kalnins/Reuters/Ritzau Scanpix
by SØREN PICO

Denmark and Norway's biggest and most influential shipping families share a similar fate in terms of the profits they have historically made on oil, and now also the downturn, loss in market value and massive impairments on assets they are forced to make.

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