DENMARK AND SHIPPING International Maritime Conference 24 th

DENMARK AND SHIPPING International Maritime Conference 24 th September 2009 Managing Director Peter Bjerregaard Danish Shipowners’ Association DANISH SHIPOWNERS’ ASSOCIATION

Agenda • Danish shipping • Market • Key challenges • The future DANISH SHIPOWNERS’ ASSOCIATION

Danish Shipowners’ Association • Established 1884 • Trade and employers’ association • Maritime house DANISH SHIPOWNERS’ ASSOCIATION

Danish Shipping • Blue Denmark employs 100, 000 • Among five largest shipping nations • Largest export industry in Denmark • Around 3 % of GDP • Annual investments at more than 1 billion EUR DANISH SHIPOWNERS’ ASSOCIATION

10 years of growth DANISH SHIPOWNERS’ ASSOCIATION

Why has nobody seen the Financial Crisis coming? Answer to the English Queen from Professor Tim Besley (London School of Economics) and Professor Peter Hennessy (Queen Mary, University of London): “To sum up, your Majesty, the lacking prediction of the timing, the size and the seriousness of the Financial Crisis is in principal a lack in the collective capability of intelligent people - both national and international – to understand the risks of the system as a whole. ” DANISH SHIPOWNERS’ ASSOCIATION

World Trade January 2005 = 100 Month-month change (right) Level DANISH SHIPOWNERS’ ASSOCIATION

Product Tank Index DANISH SHIPOWNERS’ ASSOCIATION

What is important for the Danish Shipowners’ Association? • • Response to the crisis should not cause long term damage Finance State Aid Protectionism “Aid from the Government for continuation of the Scandinavia-America Line……. is incompatible with Danish Shipping’s interest in the long term. This should outweigh the consideration of maintaining a Danish America Line. ” (Danish Shipowners’ Association 1935) DANISH SHIPOWNERS’ ASSOCIATION

Shipping is CO 2 friendly, but will be regulated Air transport 3% Shipping 3% Road Transport 17% Industry and other 36% Electricity and heating 41% 50 g CO 2 per ton per km 3 g CO 2 per ton per km DANISH SHIPOWNERS’ ASSOCIATION

Shipping is environmentally friendly but will be even better. DANISH SHIPOWNERS’ ASSOCIATION

Many other challenges • Piracy • Research • Recruitment • Ensure national and European understanding of the international character of shipping DANISH SHIPOWNERS’ ASSOCIATION

We will also survive this crisis DANISH SHIPOWNERS’ ASSOCIATION

Beginning optimism Source: IMF DANISH SHIPOWNERS’ ASSOCIATION

Thank you. Questions? Managing Director Peter Bjerregaard Danish Shipowners’ Association Amaliegade 33 DK-1256 Copenhagen K Tel: +45 33 11 40 88 E-mail: pb@shipowners. dk DANISH SHIPOWNERS’ ASSOCIATION