Under normal circumstances, ships in the Danish merchant fleet are insured via the commercial insurance market. Without insurance, ships cannot sail. A unanimous Parliament has now adopted a series of amendments to the Act on the War Risk Insurance of Ships, ensuring that Danish vessels can continue to operate with the necessary insurance in place in a wartime situation where the commercial insurance market no longer functions.

“We are a major, but also a proud maritime nation, and it is important that ships can keep sailing if Denmark is attacked by a foreign power, or if two or more great powers go to war with each other. This is, for example, absolutely essential […] for our security of supply, both in Denmark, but also in the Faroe Islands and Greenland,” said Minister for Industry, Business and Financial Affairs Morten Bødskov when the bill was debated for the first time in October. (Our translation).

It is incredibly valuable that there is broad recognition in the Danish Parliament that Danish shipping is a strategically important asset for Denmark.

Anne H. Steffensen, CEO of Danish Shipping

“As CEO of Danish Shipping, I am incredibly grateful for – and proud of – the fact that a unanimous Parliament has today adopted this law, which ensures that our ships can continue to operate should the dreadful situation arise where Denmark becomes involved in a war. We live in an uncertain and volatile world. The adoption of this bill is timely prudence, and I would like to express my sincere thanks for that,” said Anne H. Steffensen, CEO of Danish Shipping.

During the bill’s first reading, the Minister for Industry, Business and Financial Affairs, Morten Bødskov, emphasised that Danish shipping is a sector that brings thousands of jobs to Denmark and billions in export revenue, and for that reason the government will also help the industry handle this challenge.

“It is incredibly valuable that there is broad recognition in the Danish Parliament that Danish shipping is a strategically important asset for Denmark. The unanimous adoption of this bill strongly reflects that. And as Morten Bødskov and several spokespersons have mentioned during the legislative process, it is unusual to adopt a bill that one hopes will never have to be used. But that is indeed the case here,” said Anne H. Steffensen.