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
DNV and RSI complete study on decarbonising short sea dry bulk fleet
(Posted on 07/08/25)Amid increasing pressure on shipping to achieve the IMO 2050 decarbonization targets, the Responsible... Read more
London P&I Club warns industry over incorrect FIBC loading
(Posted on 04/08/25)The London P&I Club has renewed calls on ship owners, operators and charterers to address potential... Read more
Columbia Group calls for overhaul of maritime training
(Posted on 04/08/25)Columbia Group is calling for urgent reforms in maritime education to address a growing shortage of... Read more
MIS launches as new global media platform
(Posted on 30/07/25)Maritime Information Services (MIS) has officially launched as a global media platform delivering daily... Read more
Russian and Ukrainian seafarers continue struggle with psychiatric fallout of war
(Posted on 30/07/25)Russian and Ukrainian seafarers continue to experience significant psychological strain following the... Read more
Noatum expands global footprint with inauguration of Shanghai office
(Posted on 30/07/25)Noatum Maritime, part of AD Ports Group’s Maritime & Shipping Cluster, announced the official... Read more
Smart Ship Hub emission reporting first through Asiatic Lloyd partnership
(Posted on 21/07/25)Leading vessel optimisation platform Smart Ship Hub has announced its partnership with AL Group &ndash... Read more
KR Representative LEE Jungkun Elected Chair of IACS Safety Panel
(Posted on 21/07/25)KR (Korean Register) has announced that LEE Jungkun, General Manager of KR’s Convention &... Read more
INTERCARGO-member fleets outperform on safety and compliance
(Posted on 17/07/25)Dry bulk carriers entered with the International Association of Dry Cargo Shipowners (INTERCARGO) continue... Read more
NEMO strengthens global role with official status from IMO and IAEA
(Posted on 15/07/25)The Nuclear Energy Maritime Organization (NEMO) is proud to announce that it has officially been granted... Read more
