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⁸ Ibid., 563.

⁹ Jiang and Strandenes, China's Shipbuilding Industry.

¹⁰ Chida and Davies, Japanese Shipping and Shipbuilding; Amsden, Asia's Next Giant; Bruno and Tenold, “South Korea's Ascent.” Lorenz attributes the British decline in shipbuilding to “management's uncertainty about the need to reform work administration methods . . . and . . . lack of trust between labor and management.” Lorenz, “Evolutionary Explanation,” 911.

¹¹ Cho and Porter, “Global Industry Leadership,” 565.

¹² Daniel Todd applies a similar perspective on global shipbuilding, seeing industrial maturity as an important explanation for global shifts after 1945. Todd, , Industrial Dislocation: The Case of Global Shipbuilding (London, 1991)Google Scholar.

¹³ Cho and Porter, “Global Industry Leadership,” 565.

¹⁴ Stråth, Bo, The Politics of De-Industrialisation: The contraction of the West European shipbuilding industry (Oxford, 1987)Google Scholar; Jon, Joon Soo, “Government Policies and the Shipbuilding Industry,” in Handbook of Maritime Economics and Business, ed. Grammenos, Costas Th. (London, 2009), 557–76Google Scholar.

¹⁵ Cho and Porter, “Global Industry Leadership,” 550.

¹⁶ Stopford, Martin, Maritime Economics, 3rd ed. (New York, 2009), 625–38Google Scholar.

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¹⁹ Ibid., 60–61.

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²⁶ Harnow, Henrik and Morgen, Henning, “Ledelse og organisering af Odense Staalskibsværft” [Leadership and organization at Odense Steel Shipyard], in Odense Staalskibsværft 1918–2012, ed. Toftgaard, Jens (Odense, 2016), 141–65Google Scholar.

²⁷ Iversen, Martin, Udsyn: ØK, Danmark og verden [Global outlook: East Asiatic Company, Denmark and the world] (Copenhagen, 2016), 196–97Google Scholar.

²⁸ Christensen, “Odense Staalskibsværft,” 104–35; Christensen, René Schrøder, “Stålskibsbygning, værftsanlægget og skibene” [Steel ship building, production processes and the ships], in Odense Staalskibsværft 1918–2012, ed. Toftgaard, Jens (Odense, 2016), 167–205 Google Scholar.

²⁹ Christensen, “Odense Staalskibsværft.”

³⁰ Sørensen, Kurt Risskov, “Rekruttering, arbejdsstyrke og arbejdsmiljø” [Recruiting and industrial relations], in Odense Staalskibsværft 1918–2012, ed. Toftgaard, Jens (Odense, 2016), 207–32Google Scholar; M. A. Westh (yard manager) and A. P. Møller, correspondence, 3 Jan., 5 Jan., and 3 Mar. 1927, box 112289, APMM.

³¹ Johansen, Hans Chr., “Skibsfart og skibsbygning fra verdenskrig til verdenskrise” [Shipping and ship building from world war to world crisis], in Odense Staalskibsværft 1918–2012, ed. Toftgaard, Jens (Odense, 2016), 111–39Google Scholar.

³² Harnow and Morgen, “En idé om et værft,” 39–42.

³³ For instance, see his technical discussions about propeller design for a ship with a Norwegian shipowner: A. P. Møller to Wilh. Wilhelmsen, 31 Mar. 1933, box 112012, APMM.

³⁴ Hornby, Ved rettidig omhu; Christensen, “Stålskibsbygning,” 192.

³⁵ A. P. Møller to E. Ringsted, 31 Aug. 1936, box 22242, APMM; Sørensen, “Rekruttering, arbejdsstyrke og arbejdsmiljø,” 207–32; Harnow and Morgen, “Ledelse og organisering.”

³⁶ Møller to Ringsted, 31 Aug. 1936, APMM; Hornby, Ved rettidig omhu, 87.

³⁷ Christensen, “Odense Staalskibsværft,” 106; Christensen, “Stålskibsbygning,” 172.

³⁸ Iversen and Andersen, “Co-operative Liberalism,” 283–303.

³⁹ Boje, Danmark og multinationale virksomheder, 165.

⁴⁰ Harnow and Morgen, “Ledelse og organisering,” 159.

⁴¹ Christensen, “Odense Staalskibsværft,” 317.

⁴² Meeting minutes, Dansk Smede og Maskinarbejderforbund [Danish Smith and Machinist Union] (DSMF), Odense Dep., 15 Jan. and 26 Apr. 1932, Metal Odense archives, Odense; Hornby, Ved rettidig omhu, 87; Hans Rasmussen, Ilden i min esse [The fire in my furnace] (Copenhagen, 1977), 108, 284; Bengtsson, Preben, Metal Odense 100 år [Celebrating 100 years of the labor union “Metal” in Odense] (Copenhagen, 1988), 16Google Scholar; Sørensen, “Rekruttering, arbejdsstyrke og arbejdsmiljø.”

⁴³ Harnow and Morgen, “Ledelse og organisering,” 142.

⁴⁴ A. P. Møller to E. Ringsted, 9 May 1933, box 112012, APMM.

⁴⁵ Olsson, Kent, Från pansarbåtsvarv till tankfartygsvarv – de svenska storvarvens utveckling till exportindustri 1880–1936 [From naval shipyard to tanker shipyard: The emergence of Swedish shipbuilding as an exporting industry, 1880–1936] (Kungälv, 1983)Google Scholar; Johnman and Murphy, British Shipbuilding, 33–59.

⁴⁶ Johansen, “Skibsfart og skibsbygning.”

⁴⁷ The use of loans guaranteed by the state is confirmed by, for instance, a letter to the yard from the A.P. Moller-Maersk Group headquarters, 29 Dec. 1933, box 112010, APMM.

⁴⁸ Cho and Porter, “Global Industry Leadership,” 565.

⁴⁹ A. P. Møller to E. Ringsted, 8 June 1933, box 112011, APMM.

⁵⁰ A. P. Møller to Götaverken management, 12 Sept. 1934, box 112009, APMM. On such practices in Swedish shipbuilding, see Olsson, Från panserbåtsvarv till tankfartygsvarv, 116, 142–44.

⁵¹ Boje, Per and Kallestrup, Morten, Marked, erhvervsliv og stat [Market, business, and the state] (Odense, 2004), 97–129 Google Scholar.

⁵² A. P. Møller to E. Ringsted, 31 Aug. 1936, box 22242, APMM (translation is ours).

⁵³ Jensen, Kristoffer and Morgen, Henning, “En ny start for Odense Staalskibsværft” [A new beginning for Odense Steel Shipyard], in Odense Staalskibsværft 1918–2012, ed. Toftgaard, Jens (Odense, 2016), 141–67Google Scholar.

⁵⁴ Hornby, Ved rettidig omhu, 122–23; A. P. Møller to E. Ringsted, 12 June 1934, box 112009, APMM.

⁵⁵ Stopford, Maritime Economics; Tenold, Stig, Tankers in Trouble: Norwegian Shipping and the Crisis of the 1970s and 1980s (St. John's, Nfld., 2006)Google Scholar; Howarth, Stephen and Jonker, Joost, A History of Royal Dutch Shell, vol. 2, Powering the Hydrocarbon Revolution, 1939–1973 (New York, 2007)Google Scholar; Chida and Davies, Japanese Shipping and Shipbuilding; Olsson, Från panserbåtsvarv till tankfartygsvarv; Olsson, Big Business in Sweden; Christensen, “Odense Staalskibsværft,”168–70, 188–89, 206–8.

⁵⁶ Jensen, Kristoffer, “Udvidelsen af Odense Staalskibsværft” [The expansion of Odense Steel Shipyard], in Odense Staalskibsværft 1918–2012, ed. Toftgaard, Jens (Odense, 2016), 502Google Scholar.

⁵⁷ Board meeting minutes, Odense Steel Shipyard Ltd. (hereafter, OSS), 6 Dec. 1972, APMM.

⁵⁸ Goold, Michael and Luchs, Kathleen, “Why Diversify? Four Decades of Management Thinking,” Academy of Management Executive 7, no. 3 (1993): 7–25 Google Scholar; Cassis, Youssef, “Big Business,” in The Oxford Handbook of Business History, ed. Jones, Geoffrey and Zeitlin, Jonathan (Oxford 2007), 186–87Google Scholar.

⁵⁹ Hahn-Pedersen, Morten, A.P. Møller-Mærsk og olien [A.P. Moller-Maersk and oil] (Copenhagen, 2016)Google Scholar translated as Maersk Oil: From Danish to International Operations (Copenhagen, 2016).

⁶⁰ Hornby, Ved rettidig omhu.

⁶¹ Iversen and Andersen, “Co-operative Liberalism,” 303–12.

⁶² Ibid., 315–25; Binda and Iversen, “Towards a ‘Managerial Revolution’”; Iversen and Larsson, “Strategic Transformations.”

⁶³ Tenold, Tankers in Trouble; Bruno and Tenold, “South Korea's Ascent”; Chida and Davies, Japanese Shipping and Shipbuilding.

⁶⁴ Bruno and Tenold, “South Korea's Ascent.”

⁶⁵ Board meeting minutes, OSS, 9 June 1977, APMM.

⁶⁶ Ibid.

⁶⁷ Ibid.

⁶⁸ Ibid.

⁶⁹ Board meeting minutes, OSS, 16 June 1982, APMM.

⁷⁰ Jensen, “Udvidelsen af Odense Staalskibsværft,” 505–9.

⁷¹ Stråth, Politics of De-Industrialisation; Jon, “Government Policies”; Johansen, Hans Chr., “Værftsindustriens vilkår under højkonjunktur og oliekrise” [The context surrounding the Danish shipyards during economic growth and the subsequent oil crisis], in Odense Staalskibsværft 1918–2012, ed. Toftgaard, Jens (Odense, 2016), 456Google Scholar; Chida and Davies, Japanese Shipping and Shipbuilding.

⁷² Poulsen and Sornn-Friese, “Downfall Delayed”; Sornn-Friese, Henrik and Iversen, Martin Jes, “The Establishment of the Danish International Ship Register (DIS) and Its Connections to the Maritime Cluster,” International Journal of Maritime History 26, no. 1 (2014): 82–103 Google Scholar.

⁷³ Board meeting minutes, OSS, 1 Oct. 1975, APMM. On K/S ship finance schemes, see Stopford, Maritime Economics, 207–8.

⁷⁴ Johansen, “Værftsindustriens vilkår under højkonjunktur og oliekrise,” 465–66.

⁷⁵ Christensen, “Odense Staalskibsværft,” 210–17.

⁷⁶ Board meeting minutes, OSS, 13 Mar. 1978, APMM.

⁷⁷ Jensen, Kristoffer, “Udvikling mod en ny specialisering” [Towards new specialization], in Odense Staalskibsværft 1918–2012, ed. Toftgaard, Jens (Odense, 2016), 661–95Google Scholar.

⁷⁸ Svendborg and 1912, annual reports, various years, APMM.

⁷⁹ Binda and Iversen, “Towards a ‘Managerial Revolution,’” 524.

⁸⁰ Iversen and Larsson, “Strategic Transformations,” 136.

⁸¹ Jephson, Chris and Morgen, Henning, Maersk Line: Globale muligheder og udfordringer 1973–2013 (Copenhagen, 2014)Google Scholar, translated as Creating Global Opportunities: Maersk Line in Containerisation 1973–2013 (Cambridge, 2014)Google Scholar; Hahn-Pedersen, A.P. Møller-Mærsk og olien.

⁸² Reassessment of Lindø’s competitive position, McKinsey, 28 Aug. 1986, box 111717, APMM.

⁸³ Ibid.

⁸⁴ Board meeting minutes, OSS, 16 June 1982, APMM.

⁸⁵ Finding a profitable operating mode for Lindø, executive summary, McKinsey, 31 Oct. 1985, box 111717, APMM.

⁸⁶ “Agenda 28/7 1986,” box 260501, APMM; “A.P. Møller bag omstridt værftspakke” [A. P. Møller behind contested Shipyards package] and “A.P. Møllers dobbelte strategi” [The two-faced strategy of A. P. Møller], Berlingske Tidende, 10 Oct. 1996; Rigsrevisionen and Statsrevisoratet. Beretning om støtte til dansk skibsfinansiering i perioden 1986–1997, [Report on Danish ship finance subsidies during the period 1986–97] (Copenhagen, 1998).

⁸⁷ “Agenda 28/7 1986,” APMM; “Omstridt værftspakke” and “Dobbelte strategi,” Berlingske Tidende, 10 Oct. 1996.

⁸⁸ “Reassessment of Lindø’s competitive position,” APMM.

⁸⁹ Jephson and Morgen, , Maersk Line; UNCTAD Review of Maritime Transport (Geneva, 1990–2008)Google Scholar.

⁹⁰ Board meeting minutes, OSS, 24 Sept. 1986, APMM (translation is ours).

⁹¹ Kurt Andersen, interview by Kurt Risskov Sørensen, 23 Aug. 2011 (translation is ours), Odense City Museums archive, Odense, Denmark.

⁹² Jensen, “Udvikling mod en ny specialisering.”

⁹³ Board meeting minutes, OSS, 17 Mar. 1981, APMM.

⁹⁴ Steno, Carsten, En klynge, der virker [A successful cluster] (Copenhagen, 2016)Google Scholar.

⁹⁵ “Sammenfatning – Femårsplan, C 4800 og tiden efter 1996” [Summary – Five year plan, C 4800 and the time after 1996], box 261157, APMM.

⁹⁶ Janet Porter, “In a league of their own,” Lloyd's List, 25 Nov. 2010.

⁹⁷ Jensen, “Udvikling mod en ny specialisering,” 682.

⁹⁸ Ibid., 682–87.

⁹⁹ Janet Porter, “Emma Maersk sets 11,000 teu record,” Lloyd's List, 12 Aug. 2006. The vessels later proved to be even larger. Jephson and Morgen, Maersk Line, 422.

¹⁰⁰ Jensen, Kristoffer and Poulsen, René Taudal, “Lukningsbeslutningen efter nedslående markedsundersøgelser” [The decision to close down the shipyard] in Odense Staalskibsværft 1918–2012, ed. Toftgaard, Jens (Odense, 2016), 797–821 Google Scholar.

¹⁰¹ Maersk Broker to Jess Søderberg, 21 Jan. 2002, box 221783, APMM; Mærsk Mc-Kinney Møller to Mr. Cho, 28 May 2002, box 224788, APMM.

¹⁰² Mr. Cho comments on Shipyard Management Strategy Plan 2003–2006, box 214788, APMM.

¹⁰³ Lars Erik Brenøe (board chairman, OSS, 2007–12), interview by Kristoffer Jensen and René Taudal Poulsen, 2 Apr. 2014.

¹⁰⁴ Konkurrencestyrelsen, Konkurrenceredegørelsen [Report on competition], chap. 9 (Copenhagen, 2002).

¹⁰⁵ Poulsen, René Taudal and Hahn-Pedersen, Morten, “A.P. Møller-Mærsk i olie- og gasindustriens værdikæde” [A.P. Moller-Maersk in the oil and gas value chain] in Sjæk'len - Årbog for Fiskeri- og Søfartsmuseet, Hahn-Pedersen, Morten, ed. (Esbjerg, 2011), 66–85 Google Scholar.

¹⁰⁶ Goold and Luchs, “Why Diversify?”

¹⁰⁷ C. K. Prahalad and Gary Hamel, “The Core Competence of the Corporation,” Harvard Business Review, May–June 1990.

¹⁰⁸ UNCTAD Review of Maritime Transport 2015.

¹⁰⁹ Board meeting minutes, OSS, 27 May 2008, APMM.

¹¹⁰ Board meeting minutes, OSS, 3 Oct. 2006 and 22 Feb. 2007, APMM.

¹¹¹ Jensen and Poulsen, “Lukningsbeslutningen efter nedslående markedsundersøgelser.”

¹¹² Board meeting minutes, OSS, 10 Aug. 2009, APMM.