The Danish pensions industry is “potentially ready” to invest billions of krone in the country’s so-called super ports, according to Insurance and Pension Denmark.

The association, which is lobbying the government to expand Danish ports and establish seven super ports, said the pensions industry has the “expertise and is potentially ready to invest billions”.

I&P Denmark noted that Denmark is geographically located with sea on all sides and strategically located between the North Sea and the Baltic Sea. This, therefore, allows Danish ports to play a key role in the rearmament of Danish and European defence and the expansion of renewable energy plants, while giving Danish business the European lead.

However, it argued that the ports currently are not to a sufficient standard. I&P Denmark is therefore calling for the government to designate seven super ports, at a cost of DKK 35bn. It believes that with the right framework, the pensions industry can contribute with large billion-dollar investments.

“Denmark is a nation with proud maritime traditions and strategically well-located harbours. This gives us a huge advantage when it comes to setting the pace and ambition for both the expansion of offshore wind power and the European defence build-up.

“But it requires that we as a nation focus our efforts on seven super ports and combine this with business policy – several pension companies have already shown themselves ready to invest in ports if the investment model is right," I&P Denmark CEO, Kent Damsgaard, said.

Several pension funds have already shown themselves ready to invest in harbours if the investment model is right

“Danish pension funds are already involved in collaborations with the Ports of Esbjerg and Fredericia to expand their capacity, so the industry has great expertise in this area. If the right investment model is found, for example in a public-private partnership, the industry is known for delivering projects on time, at the right price and on budget," Damsgaard said.

The association has proposed that some of the super harbours should be central hubs where Danish manufacturing companies are met with flexible approval procedures and less bureaucracy, for example, when installing and shipping renewable energy plants.

Other ports, it said, must be expanded so they can be used as hubs for northern European defence, where warships can call at the ports and personnel can be accommodated.

“The world has changed in a very short time and has become far more uncertain and unpredictable in terms of security policy than we could have imagined just six months ago. That's why it's important to remove all unnecessary bureaucracy and processes that slow down progress," Damsgaard said.

"A broad majority in Christiansborg has already adopted an agreement to lay out a red carpet for manufacturing companies, and the super harbours would be obvious to link to this agreement as part of a strong manufacturing Denmark. With our proposal, we are now putting forward a number of suggestions, and we are ready for dialogue with the government and the Danish Parliament,” he concluded.

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