The 60th Anniversary of Nor-Shipping: John Fredriksen Voices Concerns Over Norway’s Maritime Industry

As the 60th anniversary of Nor-Shipping kicks off, one of Norway’s most prominent shipowners, John Fredriksen, has taken the opportunity to express his dissatisfaction with what he perceives as Oslo’s lack of support for the shipping industry.

In an interview with Finansavisen, a leading Norwegian business daily, Fredriksen, who is now a Cypriot citizen residing in London, criticized the current political climate for maritime business in Norway. He stated, “The framework conditions for shipping in Norway have never been weaker than they are now,” highlighting growing frustrations within the maritime sector over diminishing state support and a shrinking talent pool.

Fredriksen’s sentiments echo the concerns of many Norwegian shipowners who feel marginalized by government policies that they believe are unfavorable to the industry. There is also a growing worry about the shortage of skilled maritime professionals, a dwindling investor base, and the diminishing role of the Oslo Stock Exchange in global shipping finance.

According to Fredriksen, “Shipping is almost wanted away,” implying that recent regulatory decisions have alienated a sector that has traditionally been one of Norway’s key industries.

Despite these challenges, Fredriksen shared his investment strategy with Finansavisen

Looking ahead, Fredriksen emphasized the importance of liquidity and timing in navigating the cyclical nature of the shipping industry. He remarked, “It can be valuable to have gas in the tank when others run out,” underscoring the need for preparedness as the industry evolves.