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
Greek owners to play key role in nuclear development for maritime sector
(Posted on 29/09/25)“Nuclear energy is stepping forward as a credible long-term solution” stated Christopher... Read more
Columbia leader calls on the maritime industry for alternative fuels reality check
(Posted on 29/09/25)The CEO of leading integrated maritime, logistics, energy, leisure and offshore services platform Columbia... Read more
Record numbers from Indian subcontinent for Sailors’ Society conference
(Posted on 22/09/25)More than 4000 cadets, trainees and ratings from the Indian subcontinent took part in the first of Sailors... Read more
The Swedish Club expands management team
(Posted on 22/09/25)The Swedish Club have announced that it is strengthening its management team to match the pace of its... Read more
Shipowners face Port State Control crackdown on BWTS compliance
(Posted on 22/09/25)BIO-UV Group is advising shipowners to ready themselves for extensive Port State Control inspections... Read more
CORE POWER welcomes agreement to accelerate investment in maritime decarbonisation
(Posted on 16/09/25)The U.S. and the UK have announced a bilateral collaboration to accelerate reactor licensing from three... Read more
Cobelfret accelerates digital transformation with integrated maritime platform
(Posted on 14/09/25)Cobelfret, a leading global dry bulk shipowner and operator based in Singapore, has partnered with Smart... Read more
Support grows for India’s new maritime CCTV rules
(Posted on 14/09/25)Zelim is calling on international regulators and flag states to follow India’s lead on enhancing... Read more
Ionic extends Orca AI to bulker fleet to boost safety
(Posted on 09/09/25)Athens-based Ionic controls a fleet of eight crude tankers and 11 bulkers under its respective wet and... Read more
Columbia and Pan Marine launch Egyptian JV
(Posted on 09/09/25)Columbia Group, a global leader in integrated maritime services, has announced the establishment of... Read more
