Four new ultramax bulkers for Norden
(Posted on 01/07/20)
Following the sale of 10 ships since 2018, Dampskibsselskabet Norden has entered into a newbuilding contract with Nantong Cosco Khi Ship Engineering Co. (“NACKS”) for 4 x 61,000 dwt dry cargo Ultramax ships, expected to deliver during 2022.
In an interview with IBJ earlier this year, Norden Chief Executive Officer Jan Rindbo revealed the company’s business philosophy of being nimble and flexible. He noted that the newbuilding contract is in line with the company’s strategy of agile asset trading and active management of NORDEN’s cyclical market exposure.
“Having sold 10 dry cargo vessels since 2018, we believe asset prices have now declined sufficiently to present a good trading opportunity to buy,” said Jan Rindbo.
The newbuildings will join the core fleet of Norden owned and long-term leased tanker and dry cargo vessels managed by the Asset Management business unit.
“With a demand outlook gradually returning to normal and a low orderbook, we believe it’s a good time to buy assets and secure competitively priced tonnage” says Henrik Lykkegaard Madsen, Head of Asset Management. “Furthermore, the contracted vessels have been secured with the aim of trading the portfolio of bulk carriers within the prevailing market volatility to optimise our returns".
Norden, which operates in dry cargo and product tankers worldwide, celebrates its 150th anniversary next year.
Latest News
Veson: Decarbonisation regulations reducing average speed of bulker fleet
(Posted on 14/10/24)Estimated carbon emissions from bulk carrier vessels have fallen by 5 million tonnes, or 2.5%, since... Read more
Danica and IMEQ collaborate for safety and wellbeing
(Posted on 14/10/24)Danica Crewing Specialists has partnered with the Innovative Maritime Emotional Intelligence Centre (... Read more
Unprecedented insight into connectivity and wellness at sea
(Posted on 08/10/24)Unique data is being used to create a series of ‘snapshots’ into the state of the maritime... Read more
Fleet Management Limited appoints Chief Executive Officer
(Posted on 07/10/24)Fleet Management Limited, a part of The Caravel Group Limited, has announced the appointment of Captain... Read more
Caribbean states join together to call for fuel levy
(Posted on 01/10/24)Caribbean states have joined forces to ensure the views of Small Island Developing States (SIDS) are... Read more
Columbia eyes Turkish Shipping for growth
(Posted on 01/10/24)The Turkish shipping market is one of the world’s most forward thinking when it comes to digitalisation... Read more
Metis joins RightShip’s Zero Harm Innovation Partners Programme
(Posted on 01/10/24)Metis has joined the RightShip Zero Harm Innovation Partners Programme. This partnership, which includes... Read more
INTERCARGO calls for simplicity in shipping decarbonisation measures
(Posted on 25/09/24)INTERCARGO, the International Association of Dry Cargo Shipowners, has reaffirmed its commitment to... Read more
WISTA International counts down to milestone anniversary event
(Posted on 25/09/24)The Women’s International Shipping & Trading Association (WISTA International) AGM and Conference... Read more
INTERCARGO proposals call on IMO to review Carbon Intensity Indicator
(Posted on 19/09/24)The International Association of Dry Cargo Shipowners (INTERCARGO) has submitted proposals to the International... Read more
