Ship orders boost Finnish export figures

Finnish exports went up a little in June thanks to one big order. (Yle)
Finnish exports went up a little in June thanks to one big order. (Yle)
Finnish exports received a boost in June from the shipbuilding industry. Thanks to one big sale by Meyer Turku the country’s increased for the first time since July 2015.

Finnish export figures have been in decline since July 2015, but in June of this year they got a boost from one single source: Mein Schiff 5.

That’s the vessel purchased by TUI Cruises at a cost of 480 million euros from Meyer Turku, a purchase so large that it lifted Finnish export numbers out of their downward spiral — if only for one month.

The 295 metre boat has a crew of 1,000, space for more than 2,700 passengers and is based in Kiel. Construction and sale of the boat lifted Finnish exports to 4.9 billion euros in June, according to analyst Pasi Sorjunen of Nordea Bank. That’s an increase of two percent on the figure for June 2015.

Weaker figures expected for July/August

Without that sale, the numbers would have been between five and nine percent lower than in 2015, Sorjunen said.

“I think that June is an isolated blip, which came from this one order,” said Sorjunen. “In July and August we will probably see slightly weaker figures.”

Over the first half of the year exports were five percent below the same period of 2015. Sorjunen says that a sustained boost would require investment in industrial equipment worldwide, and that isn’t on the horizon.

Related stories from around the North:

Canada:  What does closure of Canadian Arctic port mean for shipping?, Blog by Mia Bennett

China: Chinese company mulls more Arctic shipping, Barents Observer

Iceland: Calls for action at Arctic shipping conference, Alaska Dispatch News

Norway:  Arctic shipping – The myths, the realities & the challenges ahead, Eye on the Arctic

Russia: Korean shipping industry watching Northern Sea Route, The Independent Barents Observer

Sweden: Swedish icebreakers gear up for Arctic role, Radio Sweden

United States:  Arctic no shipping rival to Suez: expert, Alaska Public Radio Network


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