Whether it will continue to defy expectations as this year’s Brexit negotiations progress is anyone’s guess, but trade between the UK and the continent has certainly held up well in the period since the EU referendum.
For example, ferry company DFDS has just reported another record result for 2017.
The operating profit of over £300 million was based, among other things, on what the company described as continuing positive development in volumes on its 10 freight routes across the North Sea.
According to CEO and President Niels Smedegaard, North Sea freight volumes grew by 7% in 2017.
“In spite of the Brexit issue, and the delayed Brexit agreement between the UK and EU,” he said, “we see that the UK’s economy is still growing, albeit at a slower pace. And, according to the UK Government’s official prognosis, growth is expected to continue at just over 1% in 2018.”
To accommodate the expected volume growth in North Sea traffic over the coming years, DFDS has ordered four new mega ships with a capacity of 475 trailers each. The ships will be delivered from 2019 and onwards from the Jinling Shipyard in China.
Mr Smedegaard pointed out that DFDS foresaw opportunities for providing its clients with valuable customs clearance services after Brexit, should the final agreement between the UK and the EU make this necessary.
