It was the 1970s. The selfmade businessman Sven Salén was gone, the old sailing, singing chums had exited. Enter the young lions, well-educated achievers with profits dancing before their eyes, hungry, business-savvy and recruited and encouraged by the dashing Sture Ödner, schooled in his predecessor’s spirit.

During these years, there was a long way to a recession – between 1967 and 1974, the sun never set on the Swedish shipping companies. In 1974, the maritime net income, which refers to the export revenue Sweden obtained through the activities of shipowners, was three billion Swedish kronor, and 30,000 individuals were employed in the maritime industry.

Freight rates were excellent, especially for tankers, and due to the substantial profits made there, Salén’s could also maintain its position as the third-largest refrigerated cargo fleet in the world. Even dry cargo began to perform reasonably well after the initial tentative years with the old ships of Rederi AB Rex.

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