Port of South LouisianaBühler GmbHThe Wolfson Centre for Bulk Solids Handling Technology TelestackCimbriaSailors Society
  • Bühler GmbH
  • Cleveland Cascades Ltd
  • Port of Stockton
  • Telestack
  • Vigan
  • Coaltrans Asia 2021

Norden capitalises on rising dry cargo asset values

Norden capitalises on rising dry cargo asset values

(Posted on 13/10/21)

NORDEN’s Asset Management division, which handles buying, selling and leasing of dry cargo and product tanker vessels, is capitalising on rising asset values in the dry cargo market through vessel sales. NORDEN was founded in 1871, making it one of the oldest internationally operating shipping companies.
Since the start of the year asset prices for vessels in the dry cargo market have increased by around 80%, which by the end of Q2 had resulted in a rise of more than USD 350 million in the market value of NORDEN’s portfolio of owned and leased vessels.  

Having actively shifted exposure of the portfolio away from tankers to dry cargo during the past 18 months with the sale of six tanker vessels and purchase of 13 dry cargo vessels, NORDEN is now converting the added market value to profit through vessels sales. In recent months, seven dry cargo vessels have been sold, including both Panamax and Supramax vessels.

“The dry cargo market has been soaring this year due to a combination of a restart of demand after Covid-19 and major inefficiencies in ports around the world; coupled with one of the lowest order books on record,” said Henrik Lykkegaard Madsen, Head of Asset Management. “We saw an opportunity to capitalise on these market developments.”

NORDEN expects to see continued positive development in the dry cargo market. “We are still positive on the dry cargo market outlook, and we have significant upside to further asset price gains through 16 owned dry cargo vessels and 50 purchase options in our leased dry cargo fleet,” said Lykkegaard Madsen.

Latest News

Piracy at lowest level in decades, but IMB cautions against complacency

(Posted on 16/10/21)

The ICC International Maritime Bureau (IMB) has reported the lowest number of reported piracy and armed... Read more


IMO Secretary-General opens WISTA International Conference in Hamburg

(Posted on 16/10/21)

WISTA International began their two-day conference in Hamburg on Thursday day (14 October) with discussions... Read more


Dualog Drive data integrates with Microsoft SharePoint

(Posted on 13/10/21)

Leading maritime software provider Dualog is delighted to announce a further leap towards the integrated... Read more


Cadets miss out on sea time due to pandemic restrictions

(Posted on 11/10/21)

Restrictions on crew change and repatriations are impacting cadets at a time when the shipping industry... Read more


Covid drives demand for crew-change specialists

(Posted on 11/10/21)

Crew change specialists are in big demand from shipping companies struggling to get seafarers on or... Read more


World owes debt of gratitude to Ship Masters says Danica

(Posted on 04/10/21)

As the international maritime community celebrated World Maritime Day last week and considerd how seafarers... Read more


Promote diversity to attract fresh talent to shipping

(Posted on 04/10/21)

Promoting diversity in shipping will help make the industry more appealing to young adults and adolescents... Read more


ESL subsidiary orders six hybrid vessels

(Posted on 29/09/21)

ESL Shipping’s Swedish subsidiary AtoB@C Shipping AB has ordered a series of six new, highly energy... Read more


InterManager President calls for ‘one voice’ for shipping

(Posted on 29/09/21)

Shipping needs “one voice” to represent it globally and enable the maritime community to... Read more


Synergy appoints Ackermann as CCO

(Posted on 29/09/21)

Synergy Group, one of the world’s leading ship managers, has appointed Mr Martin Ackermann as... Read more


Cleveland Cascades LtdTBA GroupViganTOC EventsVan AalstTMS Awards 2021
  • Port of South Louisiana
  • TOC Events
  • The Wolfson Centre for Bulk Solids Handling Technology
  • Cimbria

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping