Shipping Chief Says Investors Baulking at Norway’s Weak Krone
This article is for subscribers only.
Norway’s weak currency is leading some investors to think twice about equity listings in the Nordic country, according to the chairman of one of the leading shippers of oil products and liquefied petroleum gas.
“The Norwegian krone is just not a favored currency today,” Andreas Sohmen-Pao, chairman of BW Group, said at Pareto Securities’ annual energy conference in Oslo on Wednesday. “We’re starting to hear investors in other parts of the world saying we don’t want to take so much krone risk. And the result of this is the statistics are starting to clearly support US listings.”