The Shipping Crisis

Stig Tenold

Chapter 7 in Norwegian Shipping in the 20th Century, 2019, pp 195-230 from Palgrave Macmillan

Abstract: Abstract The focus on large oil tankers, which had proved so beneficial in the 1960s and early 1970s, became a millstone after the 1973/1974 oil price increase. No country was as badly affected by the shipping crisis as Norway, and the problems led to a massive reduction in the number of Norwegian shipping companies. This was matched by a strong decline in the Norwegian fleet, as ships were sold to foreigners or “flagged out” to low labour-cost registries. Tenold shows how the strategies backfired and explains why Norwegian shipping companies were particularly hard hit by the shipping crisis.

Keywords: Norway; Norwegian; Shipping; Crisis; Freight rates; Lay-up rates; The Guarantee Institute; Specialization; Tanker crisis (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psmchp:978-3-319-95639-8_7

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DOI: 10.1007/978-3-319-95639-8_7

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