J. Lauritzen: Top priority is keeping the market's trust

J. Lauritzen is currently struggling with an enormous debt of more than USD 1 billion, and the carrier expects a deficit of around USD 310-340 million this year. The company's top priority is to comply with its financial commitments, says CEO Jan Kastrup-Nielsen.

BY KATRINE GRØNVALD RAUN

Danish carrier J. Lauritzen has launched several initiatives to keep its head above water and to survive the carrier's enormous debt of more than USD 1 billion. In August, the shipping company announced an expected deficit of USD 310-340 million in 2013 and a gradual withdrawal from the product tank market. And the most important thing right now is to ensure that banks, bond holders and ship charterers don't lose faith in the shipping company, says CEO Jan Kastrup-Nielsen in an interview with Danish newspaper Børsen.

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