Norden raises full-year guidance following strong performance in dry cargo
(Posted on 07/07/26)
Following stronger than expected operational performance in dry cargo, reduced costs associated with Persian Gulf delays and additional vessel sales, NORDEN upgrades the 2026 full-year net profit guidance to USD 120 - 190 million (previously USD 70 – 140 million).
Founded in 1871, NORDEN is one of Denmark’s oldest internationally operating shipping companies, with 18 offices across six continents.
In the first quarter, our Dry cargo business unit incurred costs to reposition the fleet to the Atlantic basin in expectation of higher rates. This investment paid off in the second quarter as Atlantic rates strengthened.
In addition, following several months of disruption around the Strait of Hormuz, all chartered vessels stuck in the Persian Gulf have now safely passed through the strait. This positive development reduces the expected cost impact compared to the provision previously included in the full-year estimate.
Alongside our improved operational results, we continue to take advantage of strong asset values and we have year-to-date sold nine vessels - three from the owned fleet and six recently declared purchase options. The vessels from the owned fleet were two MR tankers and one Capesize vessel, and the purchase options relate to four Panamax vessels and two Supramax vessels. For the full-year 2026, we now expect sales gains from already signed transactions of USD 79 million (previously USD 64 million).
NORDEN CEO, Jan Rindbo, comments: “We are pleased to see stronger operational performance, supported by the benefits of earlier fleet repositioning and a reduced cost impact from the disruption in the Persian Gulf. At the same time, we continue to realise high asset values through the declaration of purchase options and vessel sales. Combined, these developments improve our full-year outlook and we therefore raise our 2026 full-year net profit guidance to USD 120 – 190 million.”
Latest News
INTERCARGO highlights progress and priorities in bulk carrier safety
(Posted on 07/07/26)Bulk carrier safety continues to show steady long-term improvement, but the nature of risk facing seafarers... Read more
Algoma announces refinancing of long-term debt
(Posted on 03/07/26)Algoma Central Corporation, a leading provider of marine transportation services, has announced that... Read more
Global maritime under threat from Fortibleed incident, warns Cydome
(Posted on 03/07/26)Major maritime, ports and energy companies have been identified by Cydome’s threat-intelligence... Read more
Crewing specialist expands global recruitment network with Indonesian seafarers
(Posted on 30/06/26)As the global shipping industry faces mounting concerns over future crew availability, Danica Crewing... Read more
IMO pauses evacuation in Strait of Hormuz following attack
(Posted on 29/06/26)Following an attack on a vessel in the Gulf of Oman, IMO has decided to temporarily pause its evacuation... Read more
Human cost of keeping world trade moving highlighted on Day of the Seafarer
(Posted on 25/06/26)Leading health and wellness platform OneCare Group is calling on shipping leaders to recognise the immense... Read more
Partnership to put seafarer wellbeing at heart of maritime safety
(Posted on 24/06/26)NorthStandard will partner maritime welfare charity Sailors’ Society to support seafarers&rsquo... Read more
IMCA urges focus on diver safety amid rising demand as Strait of Hormuz reopens
(Posted on 24/06/26)The International Marine Contractors Association (IMCA) has reminded vessel owners and operators of... Read more
Dark side of AI exposes maritime cyber training gap, warns SmartSea
(Posted on 24/06/26)AI is promising enormous benefits for the maritime industry. However, as shipping embraces digitalisation... Read more
New DNV RP establishes measurement framework for onboard carbon capture and storage
(Posted on 24/06/26)DNV has published a recommended practice (RP) providing a standardised framework for measuring and verifying... Read more
