SHIPPING ENTREPENEURS: THE NORWEGIAN FACTOR--CAN IT LAST OR WILL THE BUBBLE BURST?
As the world tanker industry declined in the recent past, so did Norwegian shipping. From July 1971 to July 1987, the Norwegian flag fleet was reduced from 48.8 to 8.9 million dwt as a result of shrinking freight markets, high Norwegian wage levels and rising operating costs. In addition, the Norwegian fleet has had a predominance of oil tankers, the type of vessel most affected by the market decline. The Norwegian Government saw fit to restructure shipping policies to provide shipowners with a better competitive position. Freedom to register abroad and to hire non-Norwegian crews was allowed. In the financial field, new capital-raising schemes were formulated and explored. It is forecast that Norwegian shipping will recover and be in control of about 15 percent of the world merchant fleet by 1995.
- Conference paper
- Bergshaven, A
- Tanker '90
- Location: London, England
- Date: 1990-3-5 to 1990-3-6
- Publication Date: 0
- Pagination: 12p.
- TRT Terms: Maritime industry; Market assessment; Shipping; Tankers
- Uncontrolled Terms: Market analysis
- Geographic Terms: Norway
- Subject Areas: Marine Transportation; Vehicles and Equipment;
- Accession Number: 00661731
- Record Type: Publication
- Source Agency: Maritime Technical Information Facility
- Files: TRIS
- Created Date: Jul 21 1994 12:00AM