Norwegian shipping companies growing on the stock exchange

The Norwegian carriers and maritime businesses grew 6 percent on the Oslo Stock Exchange in the first half of the year. An improvement, though not as big as other sectors, pulled up by Statoil.

BY LOUISE VOGDRUP-SCHMIDT

Published: 07.07.14 at 15:28

The Norwegian maritime businesses saw improvements in the first half of 2014, at least judging by the stock value of companies such as Eitzen Chemical and Frontline, which are listed on the Oslo Stock Exchange. Their value increased a total of 6 percent in the first half of the year.

This development was visible on the Oslo Stock Exchange already back in February where the transport sector's stock-listed companies - primarily shipping - increased by 104.2 percent. Overall the development of the Oslo Stock Exchange measured by revenue has been the strongest in the first half of a year since 2009. Statoil is pulling up the development on the stock exchange, while other oil companies are also contributing to the growth.

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