Announcement No. 2, 2013
Financial report for 2012
J. Lauritzen (JL) impacted by tough business environment
“Characterised by oversupply in major shipping markets, surplus shipbuilding capacity, low economic growth and tight credit conditions, 2012 brought plummeting asset values, a Baltic Freight Index at a 25 year low and further defaults among shipping companies. JL was obviously influenced by these circumstances and our 2012 result was very unsatisfactory”, says Jan Kastrup-Nielsen, JL’s new President and CEO.