Port of StocktonCimbriaGeneva DryTBA GroupTelestackTMS Awards 2023
  • Geneva Dry
  • Port of Stockton
  • Bühler GmbH
  • Van Aalst
  • TMS Awards 2023
  • Vigan

Norden shifts exposure from tankers to dry cargo

Norden shifts exposure from tankers to dry cargo

(Posted on 17/12/20)

In response to current market conditions, NORDEN is continuing to shift its exposure from the tanker segment to dry cargo.

Over the past few weeks, NORDEN has sold two tanker vessels – an MR tanker NORD PEARL and a Handysize tanker NORD BUTTERFLY.

Meanwhile, the Company has purchased two second-hand dry bulk carriers – one Supramax vessel to be delivered later this month, and a Kamsarmax to be delivered in April 2021.

The trading activities are in line with NORDEN’s asset trading strategy and active management of its market exposure.

“For the next 12 months, we see more favourable market conditions and potential upside in the dry cargo market, as the world economy gradually recovers following Covid-19”, said Jan Rindbo, CEO, NORDEN.

“Our asset trading strategy means we continually look for opportunities in the market to optimise our fleet, and it provides us the flexibility to adjust our ongoing exposure towards either dry cargo or tankers, depending on the given market developments.”

The new vessels will join the core fleet of NORDEN owned and leased tanker and dry cargo vessels under the Company’s Asset Management business unit.

Norden operates in dry cargo and tanker trades. The Dry Operator business unit serves customers with logistical optimisation of vessels and cargoes. 93.95 Million tonnes were transported in the past year with 2,526 voyages on 223 operated vessels.

Latest News

New Nuclear for Maritime takes centrestage with record attendance

(Posted on 19/06/24)

Over 350 delegates registered for CORE POWER's landmark New Nuclear for Maritime Summit held in London... Read more


AI tools key to the 'urgent action' needed to meet IMO climate targets

(Posted on 19/06/24)

Yarden Gross, CEO and Co-founder of maritime technology start-up Orca AI, is championing the rapid,... Read more


Torbjørn Gjervik appointed Western Bulk CEO

(Posted on 19/06/24)

Western Bulk Chartering AS to has announced the appointment of Torbjørn Gjervik as Chief Executive... Read more


INTERCARGO condemns deadly attacks on bulk carriers

(Posted on 14/06/24)

Following news that a seafarer has died and another has been seriously injured in the latest Houthi... Read more


Ecomar delivered to AtoB@C Shipping

(Posted on 14/06/24)

ESL Shipping's subsidiary AtoB@C Shipping has on 13th June taken delivery of Ecomar, which is the third... Read more


GAC to acquire Quadrant Pacific’s ship agency business

(Posted on 14/06/24)

GAC Group, a leading provider of shipping, logistics and marine services in the Asia-Pacific market,... Read more


Onboard carbon capture relies on industry collaboration says DNV

(Posted on 07/06/24)

Onboard carbon capture (OCC) is attracting interest within the shipping industry, providing shipowners... Read more


Franman to promote Saudi’s IMI in Greece and Cyprus

(Posted on 07/06/24)

Athens-based Franman, a leading representative and supplier of premium equipment, parts, products and... Read more


Veson: Bulker newbuilding values at 15-year high

(Posted on 01/06/24)

Values for newbuild vessels of 180,000 DWT are up by c.5.45% from USD 66.09 mil to USD 69.63 mil according... Read more


NorthStandard annual review figures verify value of scale and reach

(Posted on 31/05/24)

Global marine insurer, NorthStandard, recorded increases in premium income, investment returns, and... Read more


ViganSailors SocietyBühler GmbHVan AalstPort of South Louisiana
  • Port of South Louisiana
  • Sailors Society
  • Cimbria

Subscribe to our newsletter

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