Norden shifts exposure from tankers to dry cargo
(Posted on 17/12/20)
In response to current market conditions, NORDEN is continuing to shift its exposure from the tanker segment to dry cargo.
Over the past few weeks, NORDEN has sold two tanker vessels – an MR tanker NORD PEARL and a Handysize tanker NORD BUTTERFLY.
Meanwhile, the Company has purchased two second-hand dry bulk carriers – one Supramax vessel to be delivered later this month, and a Kamsarmax to be delivered in April 2021.
The trading activities are in line with NORDEN’s asset trading strategy and active management of its market exposure.
“For the next 12 months, we see more favourable market conditions and potential upside in the dry cargo market, as the world economy gradually recovers following Covid-19”, said Jan Rindbo, CEO, NORDEN.
“Our asset trading strategy means we continually look for opportunities in the market to optimise our fleet, and it provides us the flexibility to adjust our ongoing exposure towards either dry cargo or tankers, depending on the given market developments.”
The new vessels will join the core fleet of NORDEN owned and leased tanker and dry cargo vessels under the Company’s Asset Management business unit.
Norden operates in dry cargo and tanker trades. The Dry Operator business unit serves customers with logistical optimisation of vessels and cargoes. 93.95 Million tonnes were transported in the past year with 2,526 voyages on 223 operated vessels.
Latest News
Torvald Klaveness consolidates groupwide digital solutions
(Posted on 31/03/25)Torvald Klaveness has announced the decision to consolidate all digital services under Klaveness Digital... Read more
INTERCARGO reaffirms call for simplicity as IMO climate talks intensify
(Posted on 31/03/25)The International Association of Dry Cargo Shipowners (INTERCARGO) has renewed its call for straightforward... Read more
The Swedish Club reports strong 2024 results
(Posted on 31/03/25)The Swedish Club has delivered strong results for 2024, posting a USD 34 million profit and significantly... Read more
NORDEN adds two newbuilding Capesize leases with purchase options
(Posted on 27/03/25)In line with NORDEN’s positive long-term outlook for Capesize freight rates, the company have... Read more
Enhanced data collection for Western Bulk
(Posted on 27/03/25)OrbitMI, a global provider of maritime software and data products, has expanded its workflow capabilities... Read more
ClassNK appoints new President & CEO and Executive Vice President
(Posted on 27/03/25)Current ClassNK Senior Vice President Hayato Suga has been appointed as President & CEO as well... Read more
ASL sees continued surge in demand for Cape Size carriers
(Posted on 19/03/25)The surge in demand for Cape Size bulk carriers will continue for another six weeks, driven on by increased... Read more
Partnership to enhance compliance and emissions management
(Posted on 18/03/25)OrbitMI, a leading provider of maritime SaaS software, has announced that Istanbul-based Statu Shipping... Read more
INTERCARGO statement on loss of seafarers in Odesa bulker attack
(Posted on 18/03/25)“The International Association of Dry Cargo Shipowners (INTERCARGO) is deeply saddened by the... Read more
DNV white paper on adoption of ammonia and hydrogen fuels
(Posted on 18/03/25)As the shipping industry continues its transition to carbon-neutral fuels, ammonia and hydrogen are... Read more
