Abstract
Interwar shipping was a watershed, and Norwegian shipping companies went from laggards to leaders. The strength of the two leading maritime powers—the UK and the United States—was greatly reduced. Other countries—Germany, Greece, Norway and Japan—prospered during what was generally a very difficult period for the shipping industry. Tenold explains why Norwegian shipping performed particularly well. He shows that the Norwegian expansion was based on profitable investments in oil tankers and motor ships, partly financed by yard credits from abroad. By 1939 Norway had the world’s most modern fleet.
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