Norden Offloads Bulker Quartet

nordenImage Courtesy: Norden

Danish shipping company Norden disposed of four dry cargo vessels in the past few weeks. 

As informed, the sale is part of the company’s “strategy of becoming increasingly asset light and reduce the owned fleet to a tradable size.”

The bulkers in question are the 2002-built Panamaxes Nordkap and Nordpol, the 2007-built Supramax Nord Express and the 2011-built Handysize Nord Mumbai.

“It is an integrated part of Norden’s business to buy and sell vessels when the right opportunities arise. At the same time, it is part of our strategy to become increasingly asset light by growing the part of the business based on chartered vessels,” Jan Rindbo, Norden CEO, commented.

“We need agility and flexibility to be able to swiftly adjust to changing markets, and we get that when we charter in vessels,” he added.

In 2018, less than 15% of Norden’s fleet was owned, and with continued growth in the short-term operator business in dry operator, this percentage is expected to further decrease, according to the company.

Following the sale of the vessel quartet, Norden owns 16.5 dry cargo vessels and 24 product tankers.

”Norden will continue owning vessels. But it will to a greater extent than today be a commodity, which can quickly be bought and sold when we get the right offer. Our strong relations to other owners and yards combined with Norden’s size and market knowledge constitutes a powerful tool to identify attractive buying and selling opportunities, and we will continue making use of this going forward,” Rindbo concluded.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

The Smart Ship Exchange

The Exchange will look at the issues involved with increasing autonomy in shipping with an introduction to the concept…

read more >

3rd MarSat Workshop

The MARSAT project wants to operationalise and standardise EO products and aims to develop…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >