Royal Arctic Line: We are financially vulnerable
Royal Arctic Line has been granted permission to increase its freight rates, but the company still has significant planned expenses related especially to new ships, and no real prospects of increasing freight volumes going forward. "Not a lot has to go wrong for it to knock us down," CFO tells ShippingWatch.
BY LOUISE VOGDRUP-SCHMIDT
2014 was a good year for Royal Arctic Line, which is owned by the Greenland government and holds a concession on sailing between Denmark and Greenland. The carrier managed to turn the first deficit in 20 years, from 2013, into a profit - and the company wants to stay in the black, CFO Ole Baunbæk tells ShippingWatch.
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