There is a focus on the economy at the ports of North Jutland at the turn of the year. Thisted Municipality had to take over the port operations of Hanstholm Port at the turn of the year, as a result of a large debt of millions, and in Frederikshavn Port they are fighting to prevent a similar fate from befalling them.
However, such a situation is not in the cards for the Port of Hirtshals. The economic development here has been positive for a number of years, and the progress will continue in the coming years.
- The economy in the Port of Hirtshals is rock solid. It is the result of well-considered decisions over a long period of time. The port has been eroding after industry, and in the past 14 years we have settled more debt than we have taken on. In 2028, we will have halved our current debt, says Per Holm Nørgaard, CEO of the Port of Hirtshals.
A new study of the port shows that even though the port has invested 358 million DKK in the period 2009-2022, it has only taken on debt for 175 million DKK, but settled debt for almost 200 million DKK. The port has self-financed investments for around 183 million DKK from 2009-2022.
- Despite major investments in the future, our debt was 23 million DKK less in 2022 than in 2009, and debt settlement will accelerate even more in the coming years. Our current debt of approximately 160 million DKK will be reduced to approximately 80 million DKK during 2028 – that is, we will halve our debt in five years by repaying 80 million DKK. DKK from our ongoing operations. This is a development that we are very satisfied with, says Per Holm Nørgaard.
Good economy creates new opportunities
The port indicates that the healthy economy has created opportunities to expand activities in the coming years. This has, among other things, paved the way for the agreements that the port has already entered into with large groups such as Ineos, Wintershall Dea, Aalborg Portland and the other partners in Greenport Scandinavia on the storage and shipping of CO2 to empty gas and oil fields in the North Sea.
In addition, a number of companies plan to settle in the port to become part of the collaboration on the production and consumption of green fuels that the Port of Hirtshals has established in collaboration with a number of companies and consortia.
- We are proud that we are one of the Danish ports that has managed to attract significant investments because it creates more jobs and makes a difference in relation to the green transition. The positive development also strengthens our economic foundation, which is already quite good and will become even stronger in the coming years, says Deputy Chairman of the Port of Hirtshals Board, Mayor Søren Smalbro (V).
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