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Royal Arctic Line makes first deficit in 20 years

A strong decline in cargo volumes to and from Greenland has triggered a deficit at Royal Arctic Line of USD 2.6 million. This marks the carrier's first deficit since 1995.

Photo: Royal Arctic Line

Royal Arctic Line finds itself in the red for the first time since 1995 due to the economic slowdown, which has led to a strong decline in cargo volumes.

The Greenland-owned carrier, which holds a monopoly on transports from Denmark to Greenland, suffered a 2013 deficit of USD 2.6 million after a 9.1 percent decrease in total cargo volumes, a development that led to a USD 9.3 million drop in revenue, says the company in its annual report.

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