SCANDINAVIA\\\


Stena makes the move to Norvik


Stena Line moved its Nynäshamn


ferry terminal


to the newly built Stockholm Norvik Port on 9 November. The new facility was officially opened with the first arrival of the vessel Stena Flavia at 7am. Stena said the new terminal


would be an important part of its expansion plans in the Baltic Sea that the deployment of


includes two new


modern ferries and 30% additional freight capacity on the Ventspils (Latvia) route in


2021. Stena Line operates three the Baltic Sea


routes across


and recently announced an expansion of its Stockholm- Ventspils route with the deployment of two large modern ro pax-vessels during 2021, adding both freight and passenger capacity. The move to Stockholm Norvik Port would strengthen this position even further, it added. Trade director Baltic Sea North, Johan Edelman, said:


“The move to the new ferry terminal is an important part of our expansion in the Baltic Sea and enables us to continue to grow together with our customers. In January we expect the first of the two new vessels to start operating, adding another 30 % freight capacity to the route. Stockholm Norvik Port will offer efficient and sustainable logistics solutions with increased capacity and warehouse cross docking


facilities as well as strong intermodal connections to the rest of Sweden. Ports of Stockholm


marketing and sales manager Johan Wallén added: “With the strategic location of Stockholm Norvik Port, state-of-the-


Economies shrink as Covid takes its toll


The Nordic economy is projected to contract this year for the first time since the global financial crisis because of the coronavirus pandemic, while oil-producing Norway is set to also be affected by depressed energy prices. But fiscal and monetary stimulus across the region should soften the downturn. VoxEU points out that


Sweden attracted international attention for not imposing a strict lockdown after the Covid outbreak. It says that the evidence suggests that the labour markets of all Nordic countries were severely hit by the pandemic, but Sweden performed slightly better than its neighbours. In Norway,


Finland, and


Denmark, personal services such


as hairdressers and


dentists, bars, nightclubs, restaurants, and hotels were largely shut down and public transport was limited. contrast, Sweden


In opted for


much less strict measures, with restaurants and bars kept


open (with some proximity restrictions), and private businesses and shops allowed to operate freely. From the third week of


March, there was a sharp increase in new unemployment and furloughing in the other Nordic countries, especially for


Norway Sweden showed


public places, so the virus will still have had a significant effect on the economy. Another analyst, Thelocal,


and Denmark. a


similar


but less pronounced peak in unemployment and furlough, lagging behind its neighbours by around two to three weeks. Clearly, as VoxEU points out,


there was some effect on the performance of the Swedish labour market but the analysis so far is of the short-term effects. It is only the coming weeks and months that will show whether Sweden will weather the economic crisis differently from its neighbours. It should be pointed out that


while the Swedish government has chosen not to introduce strict Covid rules, many of the country’s people chose voluntarily to stay away from restaurants, shops and other


says that Sweden’s GDP is expected to shrink, by 3.4% in 2020, according to the National Institute of Economic Research’s latest forecast. This is an improvement on its August forecast, when it estimated GDP would shrink 4.8%. There are also clear signs of a


strong rebound during the third quarter of this year, said the institute’s forecast chief Ylva Hedén Westerdahl. But the pandemic has


hit Sweden’s labour market hard, and the


country’s


unemployment rate is expect to keep rising, before peaking at almost 10% in the fourth quarter of 2020. In economic terms, the


slump won’t be over until 2023, continued Westerdahl. While GDP is expected to grow 3.6% next year and 3.3% in 2022, it will then slow down to 1.9% and 1.7% in the following two years, according to


the institute’s


forecast. Westerdahl warned that


there are several other threats on the horizon. They include the increased spread of coronavirus in many countries, Brexit and the US election fuelling risks of geopolitical disturbance and trade wars. The recovery is fragile, said Westerdahl.


Denmark takes a dive


Focus-Economics said that the Danish economy “dived at the sharpest pace since the 1990s in the second quarter of the year, entering a moderate recession as the strict lockdown measures took their toll.” However, data for the third quarter points to a recovery ahead. The unemployment rate ticked down in July, according to provisional data and while manufacturing decreased mildly in August, it


remained in expansionary


territory. However, slower- than-expected recoveries in key trading partner countries


art infrastructure and great opportunities for storage and load handling, we have created completely new prerequisites for our customers. We warmly welcome Stena Line to Stockholm Norvik Port. We are very pleased with our many


dampened trade momentum in July, as both exports and imports dropped compared to June. Tourism has also been hit by increased quarantine requirements. But while the economic


downturn is set to be significant this year robust fiscal and monetary stimulus should cushion the fall. Thelocal confirmed that Denmark’s gross domestic product fell by 7.4% in the second quarter of 2020 compared with the first quarter and was technically in a recession. There could also be worse


to come, it said, quoting Casper Schrøder, economics correspondent with national broadcaster DR, who said: “Most of the effects of such a shrinkage of the economy are likely to be felt indirectly at this stage. Many will not be experiencing a direct impact from the (economic) crisis here and now. They have not been fired and are receiving the same wages. But the crisis will affect them indirectly, and that will become clearer in the coming time.”


Issue 8 2020 - Freight Business Journal


21


years of collaboration and also that Stena Line has chosen this commitment to the Baltic Sea’s new mega-port.” The new ferry terminal will be a 12 hectare site with a 525 metre quay length, 142 trailer parking


lots, an Intelligent


Transport System and cross docking facilities. Since Stena Line acquired


the ferry route between Nynäshamn in Sweden and Ventspils in Latvia in 2012 it has more than doubled its operations from one vessel and 10 departures per week to a fixed timetable with two vessels and 24 departures per week. The crossing time of 8.5 hours


is the fastest sea-connection between Sweden and the Baltic countries.


Norway Likewise, Thelocal said that


Norway’s economy suffered its ‘deepest ever’ dip in second quarter, by the largest amount ever measured by the country’s national statistics bureau. Statistics Norway reported growth of -6.3%, by far the biggest drop ever measured by the agency for such a period. Economic activity was 6%


lower in June than in February, “contributing to the hammer blow to the country’s economy”, the agency said. Hardly surprising, given the wide- ranging lockdown imposed from 12 March which led to a sharp fall in economic activity throughout the spring. There was however some


cause for optimism, with growth of 3.7% in GDP for mainland Norway in June.


Finland


Finland’s economy contracted in


a much slower pace than in most European e c on om ie s ,


22 >> the quarter, although at


In a world of constant movement, we provide transport solutions that put your mind at rest.


While you remain still, we make sure things are moving forward.


freightservices.greencarrier.com


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