Sunday, November 16, 2014

Scandinavian economy facts of the day

Times reports about Denmark's reliance on Moeller-Maersk,
Revenue at AP Moeller-Maersk, publicly traded but family controlled, equals more than 14 percent of Denmark’s gross domestic product.
And FT has this about the spectacular size of Norway's Oil Fund,
Every day for the past thirteen-and-half years, Norway's oil fund has grown by an average of $165 million... It has quintupled its assets in the past decade to $860bn and transformed itself into the world’s biggest sovereign wealth fund, with a 100-year plus horizon. Today, it owns the equivalent of 1.3 per cent of every listed company in the world.
Update 1 (12.07.2015)
FT reports that even as the industry has been losing money, Maersk Line has been an exception, thanks to aggressive cost-cutting and new investments,
In the first quarter, its operating profit margin was 11.8 per cent — an estimated 9.8 percentage points ahead of the average of its 12 biggest rivals. And in each of the past three years, Maersk Line has turned in a profit when its average competitor has been losing moneyMaersk Line’s consistency could be seen as somewhat related to its size. It transports 15 per cent of the world’s seaborne container freight and is keen to stay the market leader.

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