Danske Bank: Bad quarter for Norwegian shipping

First quarter 2013 showed disappointing developments in almost all segments of Norwegian shipping. Product tank continued its strong performance from the fourth quarter 2012, says Danske Bank.

Photo: Stena Bulk

With product tank as the only exception, the first quarter 2013 was generally weak for Norwegian shipping. The downside can bee seen at, for instance, Frontline and Frontline 2012, which are currently refusing to charter out vessels at loss-making rates, writes Danske Bank Markets in an analysis.

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