Norden Shipping

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has deepened its collaboration with American wood pellet producer Enviva by entering into a new two-year contract of affreightment (COA), set to commence in Q1 2026. The renewed deal underscores Dampskibsselskabet DS Norden A/S’s long-term commitment to sustainable cargo transportation between the United States and Europe. Under the fresh COA, Dampskibsselskabet DS Norden A/S will transport several handysize cargoes of wood pellets from loading ports along the US East Coast (USEC) and the US Gulf (USG) to Enviva’s clientele located across the United Kingdom and continental Europe. The agreement expands an established partnership that began in 2012, focusing on transatlantic shipments supporting the renewable energy trade. “Enviva is a strategic and valued customer for Dampskibsselskabet DS Norden A/S,” stated Jan Rindbo, CEO of Dampskibsselskabet DS Norden A/S. “This renewed commitment enables us to continue transporting environmentally responsible energy commodities across the Atlantic, reinforcing both companies’ shared goal of accelerating the transition away from fossil fuels.” Founded in 1871 and headquartered in Copenhagen, Dampskibsselskabet DS Norden A/S is one of Denmark’s oldest and most prominent shipowning and operating enterprises. The company operates a diversified fleet of dry cargo and product tanker ships, including handysize, supramax, panamax, and MR tanker segments. Dampskibsselskabet DS Norden A/S manages both owned and chartered ships, providing flexible transport solutions and maintaining a global presence through offices in Singapore, the United States, and Australia. Its modern fleet strategy and focus on digital voyage optimization have positioned Dampskibsselskabet DS Norden A/S as a leading advocate for decarbonization within maritime logistics. Enviva, headquartered in Maryland, remains the world’s largest producer of industrial wood pellets, supplying bioenergy markets throughout Europe and Asia. 5-November-2025

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has announced the appointment of Christian Antonsen as the new head of dry cargo within its freight services and trading division, marking another step in the company’s ongoing organizational evolution and global commercial expansion. Danish shipowner and operator Dampskibsselskabet DS Norden A/S, which is listed on the Nasdaq Copenhagen, operates one of the world’s largest and most diverse fleets of bulk carriers and product tankers. The appointment of Christian Antonsen reflects Dampskibsselskabet DS Norden A/S’s strategy of reinforcing leadership across its core business segments while maintaining its strong position in both freight services and asset trading. Christian Antonsen brings to Dampskibsselskabet DS Norden A/S extensive experience from his tenure at agricultural conglomerate Archer Daniels Midland (ADM), where he served as global ocean freight director, chartering. Prior to that, he held key commercial and chartering roles at Swiss-based agribusiness Bunge and Denmark-based dry bulk operator Ultrabulk, gaining a deep understanding of commodity logistics, risk management, and freight optimization. Effective January 1, 2026, Christian Antonsen will oversee Dampskibsselskabet DS Norden A/S’s dry cargo division, which employs around 100 professionals across multiple offices and manages a fleet of roughly 300 bulk carriers spanning handysize, supramax, ultramax, panamax, and capesize segments. His responsibilities will include overseeing project and parcel trades, optimizing cargo flows, and strengthening Dampskibsselskabet DS Norden A/S’s relationships with global charterers and cargo owners.“Christian Antonsen joins Dampskibsselskabet DS Norden A/S from one of our most important customers, bringing valuable insights, leadership qualities, and a strategic mindset to our commercial organization,” stated Dampskibsselskabet DS Norden A/S COO (chief operating officer) Anne Jensen. She added, “He is a highly experienced leader who understands both sides of the chartering table, with a deep focus on data, innovation, and collaboration with customers. These are essential elements in advancing our dry cargo performance and maintaining our reputation for reliability and excellence in global shipping.”Founded in 1871, Dampskibsselskabet DS Norden A/S is among the oldest and most respected names in global maritime transport. Over the past 150 years, the Copenhagen-based shipowner and operator has evolved from operating a small fleet of steamships to becoming a leading integrated shipping services provider, active in both dry bulk and product tanker markets. The company’s strategy focuses on combining asset trading and freight services, allowing Dampskibsselskabet DS Norden A/S to balance long-term investments in ships with short-term market opportunities. This model has enabled Dampskibsselskabet DS Norden A/S to consistently generate strong financial performance, even during volatile market cycles, while maintaining a flexible and diversified fleet structure. Dampskibsselskabet DS Norden A/S currently operates more than 500 ships across dry cargo and product tanker segments, serving customers worldwide through offices in Copenhagen, Singapore, Shanghai, Annapolis, and Melbourne. The company has been a pioneer in digital transformation within shipping, utilizing data analytics, real-time market intelligence, and AI-driven voyage optimization tools to enhance operational efficiency and reduce carbon emissions. Dampskibsselskabet DS Norden A/S is also deeply committed to decarbonization and sustainability, aligning its long-term targets with the International Maritime Organization’s net-zero ambitions. It has invested in biofuel trials, energy efficiency technologies, and emissions-trading compliance measures to position itself at the forefront of the maritime energy transition.The appointment of Christian Antonsen comes at a pivotal moment for Dampskibsselskabet DS Norden A/S, as the company continues to deepen the integration between its dry cargo, tanker, and logistics segments. His leadership will be crucial in driving the company’s global freight strategy, optimizing customer engagement, and ensuring that Dampskibsselskabet DS Norden A/S remains a trusted partner for global trade flows in an increasingly complex market environment. 3-November-2025

 

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S Chief Executive Officer Jan Rindbo stated, “We are already receiving freight enquiries for US soybeans going to China,” reflecting renewed optimism in the dry bulk market following the easing of trade tensions between the United States and China. The Danish shipowner and operator, listed on the Copenhagen Stock Exchange, operates one of the most diversified and commercially agile fleets in the global maritime industry, spanning both bulk carriers and product tankers. With extensive experience in long-haul commodity trades, Dampskibsselskabet DS Norden A/S is well positioned to capitalize on the revival of US–China agricultural shipments that are expected to strengthen freight demand in the coming months. Chief Executive Officer Jan Rindbo, who has led the company since 2015, also described the recent International Maritime Organization (IMO) decision as a “missed opportunity” for shipping to become the first sector to implement binding, globally coordinated carbon-reduction targets. His remarks underline Dampskibsselskabet DS Norden A/S’s proactive approach to environmental responsibility and its commitment to leading the transition toward more sustainable shipping practices. Thursday brought a double dose of positive news for Dampskibsselskabet DS Norden A/S. In addition to reporting another profitable quarterly performance, the United States and China agreed to suspend their reciprocal port fee regimes for 12 months, a development viewed by Chief Executive Officer Jan Rindbo as a strong signal of improved trade cooperation and a supportive factor for freight markets. Founded in 1871, Dampskibsselskabet DS Norden A/S is one of Denmark’s oldest and most respected maritime enterprises, with a legacy spanning more than 150 years. Headquartered in Copenhagen, the shipowner and operator manages a large fleet through both ownership and chartered tonnage, focusing on handysize, supramax, panamax, and kamsarmax bulk carriers, as well as medium-range (MR) and long-range (LR1) product tankers. The company’s flexible asset-light model allows it to dynamically adjust exposure between the dry bulk and tanker markets based on evolving freight conditions. Dampskibsselskabet DS Norden A/S operates globally with a strong commercial presence in Singapore, Shanghai, Annapolis, Melbourne, and Santiago, providing it with direct access to major cargo flows and regional trading partners. Under Chief Executive Officer Jan Rindbo’s leadership, the company has embraced digital transformation, deploying advanced voyage optimization tools, fuel-efficiency monitoring systems, and predictive analytics to improve operational performance and reduce emissions. Dampskibsselskabet DS Norden A/S has also committed to fleet modernization through the acquisition of eco-design bulk carriers and tankers capable of running on alternative fuels, aligning with the International Maritime Organization’s decarbonization roadmap. The Danish shipowner and operator’s environmental and commercial strategies are guided by its broader “Stronger, Smarter, Greener” initiative, which integrates sustainability into every aspect of its business model. Dampskibsselskabet DS Norden A/S has become one of the leading proponents of carbon-neutral shipping solutions, participating in industry-wide collaborations focused on developing ammonia- and methanol-ready ships. The company’s strong financial position, global trading network, and risk-managed commercial operations enable it to remain resilient in volatile market conditions while pursuing growth across both dry bulk and product tanker sectors. As Chief Executive Officer Jan Rindbo continues to steer Dampskibsselskabet DS Norden A/S toward a balanced, sustainable, and digitally advanced future, the firm stands as a model of how traditional shipowners can evolve into modern, data-driven, and environmentally conscious maritime enterprises — blending over a century of seafaring heritage with innovation and long-term strategic foresight. 2-November-2025

 

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has carried out another significant S&P (Sale and Purchase) transaction, this time centered on a leased panamax bulk carrier. The Copenhagen-listed shipowner and operator Dampskibsselskabet DS Norden A/S disclosed that it exercised its contractual purchase option on the leased panamax bulk carrier before swiftly reselling the unit to an undisclosed buyer, continuing a pattern of opportunistic deals in 2025. While the identity of the buyer and the specific name of the ship were not revealed, the maneuver highlights the Danish shipowner and operator Dampskibsselskabet DS Norden A/S’s long-standing strategy of converting leased tonnage into owned tonnage and then selling those assets in favorable market conditions to realize profit. This approach has become a cornerstone of the company’s asset management strategy and demonstrates its capacity to balance risk and reward in a volatile dry bulk market. The deal also comes at a time of heightened trading activity for the Jan Rindbo-led shipowner and operator Dampskibsselskabet DS Norden A/S. Over the course of 2025, the group has offloaded more than 20 bulk carriers, with at least 10 of these transactions executed through exercised purchase options, illustrating how central leasing and resale transactions are to its overall fleet management. Parallel to these disposals, Dampskibsselskabet DS Norden A/S has been active in expanding and refreshing its portfolio by bringing in about 20 additional bulk carriers on lease, most with embedded purchase options, thus preserving flexibility for future acquisitions or profitable exits. This dual approach of divestments and new lease agreements demonstrates the company’s ability to adjust its exposure to market cycles and freight trends. Dampskibsselskabet DS Norden A/S is one of Denmark’s most historic and influential shipping entities, tracing its origins back to 1871. Headquartered in Copenhagen, Dampskibsselskabet DS Norden A/S has grown into a diversified shipowner and operator, managing one of the world’s largest fleets of dry bulk carriers and product tankers. The company’s dry bulk division operates across all major asset classes, including handysize, supramax, panamax, and capesize bulk carriers, serving global commodity flows such as coal, grain, iron ore, and bauxite. Its tanker division is a major transporter of refined oil products, playing an integral role in global energy logistics. Dampskibsselskabet DS Norden A/S is also widely recognized for its emphasis on asset play, frequently buying, selling, leasing, and chartering ships to maximize returns across different market conditions. Under the leadership of CEO Jan Rindbo, who has helmed the company since 2015, Dampskibsselskabet DS Norden A/S has strengthened its reputation as a flexible, data-driven, and commercially astute shipowner and operator. Jan Rindbo has overseen strategic fleet expansion, digitalization initiatives, and decarbonization measures aligned with International Maritime Organization targets. The company has also been at the forefront of testing and adopting green shipping solutions, including biofuels, voyage optimization tools, and energy-efficiency retrofits, while supporting global regulatory frameworks that aim to reduce the carbon footprint of international shipping. Beyond its trading activity in the S&P (Sale and Purchase) market, Dampskibsselskabet DS Norden A/S has built an extensive global network with offices and operational hubs in major shipping centers, ensuring its presence in Asia, Europe, and the Americas. Its broad customer base includes leading charterers in the energy, mining, agriculture, and industrial sectors, all relying on Dampskibsselskabet DS Norden A/S’s reliability and scale. The company’s business model, combining asset play, commercial operations, and chartering, has made it a resilient and profitable name in global shipping for more than 150 years. The latest transaction involving the leased panamax bulk carrier is another example of how Dampskibsselskabet DS Norden A/S leverages its market insight, financial strength, and operational expertise to enhance value for stakeholders, all while continuing its legacy as one of Denmark’s most iconic maritime enterprises. 30-September-2025

 

‘Exactly what we need’: Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S CEO Jan Rindbo applauded the IMO (International Maritime Organization) initiative to reduce risk in green freight, describing it as a vital milestone for the maritime sector’s transition toward decarbonization. A critical decision on the carbon objective is scheduled for October 2025, a ruling that could reshape the distribution of obligations and prospects between shipowners offering eco-friendly transport and charterers willing to pay additional costs. Danish shipowner and operator Dampskibsselskabet DS Norden A/S CEO Jan Rindbo stated: ‘If there’s no demand for it and only extra cost, this will not happen,’ stressing that joint effort from all parties will be crucial for success. A consensus on a worldwide carbon regulation for shipping in October 2025 would help dismantle the present gridlock between operators positioned to deliver lower-emission transportation and charterers prepared to finance such services. As emphasized by Dampskibsselskabet DS Norden A/S, a historic organization established in 1871 and headquartered in Copenhagen, such a framework could merge environmental responsibility with financial feasibility. Dampskibsselskabet DS Norden A/S ranks among Denmark’s most established and respected maritime enterprises, managing an extensive portfolio of bulk carriers and product tankers that operate across diverse international routes. Its fleet composition allows adaptability in serving both commodity traders and industrial customers. Dampskibsselskabet DS Norden A/S has evolved into a central figure in global seaborne trade, maintaining a listing on Nasdaq Copenhagen and building a strong reputation for resilience, operational strength, and prudent management. In the past several years, Dampskibsselskabet DS Norden A/S has prioritized sustainability investments, from upgrading ships to boost fuel efficiency to advancing research into zero-carbon alternatives. The Copenhagen-listed shipowner and operator has also intensified its efforts to provide environmentally conscious freight options to charterers, including a strategic investment in renewable fuel developer MASH Makes, ensuring access to alternative energy sources. Furthermore, Dampskibsselskabet DS Norden A/S has embraced digital solutions, leveraging advanced voyage optimization and fuel monitoring systems to cut emissions while maintaining cost-effective freight services. Blending its longstanding heritage with progressive strategies, Dampskibsselskabet DS Norden A/S secures its standing not merely as a leading shipowner but as a transformative force guiding international shipping toward a sustainable future. 22-September-2025

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has reinforced its active presence in the bulk carriers sale-and-purchase (S&P) market by confirming the disposal of a supramax bulk carrier while at the same time acquiring a panamax bulk carrier, with the Copenhagen-listed shipowner and operator Dampskibsselskabet DS Norden A/S executing its well-established strategy of declaring purchase options on leased ships, converting them into owned assets, and then reselling them for profit, as Jan Rindbo-led shipowner and operator Dampskibsselskabet DS Norden A/S exercised a purchase option on a leased supramax bulk carrier and subsequently sold the ship without disclosing further details of the transaction, while the acquisition of a 2017-built kamsarmax bulk carrier, which will join the fleet in September 2025, strengthens its operational capacity with high grain-loading efficiency and a shallow draft tailored for trades involving depth-restricted ports, and according to Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S this move aligns with its current cargo requirements and long-term strategy to optimise fleet deployment in response to specific market demands, coming on the back of a particularly strong run of transactional activity in which Dampskibsselskabet DS Norden A/S confirmed the sale of 20 ships in 2025, including 13 via declared purchase options, with 15 being active fleet ships and five pre-delivery newbuilds sold but leased back on time charter, while also entering into 18 new lease agreements with purchase options year-to-date, 10 of which involve multipurpose (MPP) ships, reinforcing its expansion into the project cargo segment, and this wave of activity highlights the strength of Dampskibsselskabet DS Norden A/S, one of the oldest and most respected names in Danish shipping with a history dating back to 1871, which has grown into a global leader in dry bulk and product tanker shipping, operating a large and diverse fleet across supramax, panamax, kamsarmax, and tanker segments, with a reputation for dynamic asset trading, strong risk management, and a pioneering approach to carbon reduction strategies, making Dampskibsselskabet DS Norden A/S not only a key player in the Copenhagen maritime cluster but also a highly influential presence in the wider international shipping industry. 19-August-2025

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S is evaluating new ship acquisitions, though CEO Jan Rindbo has underlined that Dampskibsselskabet DS Norden A/S can strengthen its position by optimising performance within its operated fleet, with the Danish shipowner and operator having expanded its fleet through new leases and generated liquidity by divesting purchase-option ships, actively engaging in ship sales and lease transactions since Q1 2025, while also keeping acquisition opportunities under consideration, and CEO Jan Rindbo confirmed that Dampskibsselskabet DS Norden A/S will closely assess ways to improve the performance of its asset-light division, which has been under pressure, with Dampskibsselskabet DS Norden A/S, founded in 1871 and listed on Nasdaq Copenhagen, recognized as one of Denmark’s oldest and largest internationally active shipowners with a diversified fleet of more than 500 ships operated in both dry cargo and tanker segments, maintaining a global presence with offices across Asia, Europe, and the Americas, and known for its focus on asset trading, risk management, and long-term chartering strategies that have established it as a significant player in the global shipping industry. 17-August-2025

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S continues to grow its multipurpose fleet with the signing of 18 new lease agreements in 2025, including six multipurpose ships with purchase options and an additional lease for a handysize bulk carrier, as the CEO Jan Rindbo-led shipowner and operator Dampskibsselskabet DS Norden A/S further reinforces its presence in the project cargo segment by securing four newbuilding multipurpose ships for delivery in 2027 and 2028, along with two secondhand ships already operating within its fleet; founded in 1871 and listed on the Nasdaq Copenhagen Stock Exchange, Dampskibsselskabet DS Norden A/S is one of Denmark’s oldest and most prominent shipowners, with a diversified portfolio across dry bulk, tankers, and project cargo, and a global network supporting its asset-light strategy and commercial agility; Dampskibsselskabet DS Norden A/S entered the project cargo market in 2023 and has since committed to specialized ships capable of transporting wind turbine components, large industrial equipment, and other breakbulk cargoes, while consistently leveraging digital solutions and a strong decarbonization roadmap to modernize its fleet and enhance operational performance, with its recent lease agreements reflecting its commitment to flexibility, efficiency, and long-term market positioning. 6-August-2025

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has secured seven ships through new lease-to-own agreements as part of its ongoing strategy to enhance asset flexibility and modernise its diversified fleet across the project cargo and dry bulk segments, with the latest deals including six multipurpose ships—four newbuilds scheduled for delivery in 2027 and 2028, and two secondhand ships already operating within Dampskibsselskabet DS Norden A/S’s fleet—as well as one handysize bulker newbuilding set for delivery in 2026; under the leadership of CEO Jan Rindbo, Dampskibsselskabet DS Norden A/S has continued to expand its footprint in specialised shipping markets, having entered the project cargo sector in 2023 with a fleet tailored to transporting windmill components, industrial plant parts, large-scale batteries, and breakbulk cargoes, complementing its already extensive operations in the dry cargo and tanker markets; founded in 1871 and listed on the Nasdaq Copenhagen Stock Exchange, Dampskibsselskabet DS Norden A/S is one of Denmark’s oldest and most prominent shipowners, operating a global network with a strong emphasis on asset-light trading, digitalisation, and decarbonisation, and its twofold strategy focuses on unlocking asset value and maintaining flexibility through purchase options while upgrading to younger, more efficient ships; so far in 2025, Dampskibsselskabet DS Norden A/S has entered into 18 lease agreements with purchase options, while simultaneously executing a wave of strategic disposals in line with its renewal model, having sold over 15 ships this year, most of which were linked to the execution of purchase-option conversions, reinforcing Dampskibsselskabet DS Norden A/S’s reputation for agile fleet management and its commitment to delivering long-term value through disciplined capital allocation and operational excellence. 5-August-2025

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has been linked to a new transaction involving the ultramax bulk carrier MV Nord Kitan, representing what appears to be a renewed attempt to divest the ship after a previously reported deal in April 2025 failed to close. CEO Jan Rindbo-led Dampskibsselskabet DS Norden A/S has returned to the S&P (Sale and Purchase) market as a seller, offering the 2017-built 60K DWT ultramax bulk carrier MV Nord Kitan, which had been under long-term charter. The ship is reportedly being marketed at around $24m with forward delivery terms. Dampskibsselskabet DS Norden A/S, established in 1871, is one of Denmark’s oldest and most distinguished shipowners and operators, with a global footprint in both the dry cargo and product tanker markets. Dampskibsselskabet DS Norden A/S operates a fleet comprising both owned and chartered ships under an asset-light strategy focused on risk management, market optimization, and active trading. With a presence in key maritime hubs worldwide, Dampskibsselskabet DS Norden A/S continues to pursue strategic fleet adjustments through selective acquisitions and disposals. 28-July-2025

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has reported fresh activity in the sale-and-purchase (S&P) market, completing two transactions across the dry and wet sectors as part of its ongoing divestment strategy linked to exercised purchase options. Under the leadership of Jan Rindbo, shipowner and operator Dampskibsselskabet DS Norden A/S has sold one supramax bulk carrier and one MR tanker for an undisclosed amount. Dampskibsselskabet DS Norden A/S has not released further information regarding the specific ships it previously added to its owned fleet through the execution of purchase options. The decision aligns with Dampskibsselskabet DS Norden A/S’s continuing strategy to realise asset value amid favourable market dynamics, the company stated. This strategic pattern has been visible throughout 2025, during which Dampskibsselskabet DS Norden A/S has completed the sale of 16 ships, 10 of which were directly tied to purchase-option exercises. In May 2025, Dampskibsselskabet DS Norden A/S achieved gains by selling 2 MR tankers shortly after converting leased assets into owned ones via exercised purchase options. Following the latest transactions, Dampskibsselskabet DS Norden A/S’s fleet now stands at 15 owned ships and 80 leased ships with existing purchase options. 1-July-2025

 

A member of the influential Greek Vardinoyannis business family has been identified as the buyer of two kamsarmax bulk carriers sold by Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S in February 2025, resolving months of speculation within Greek shipping circles over which Greek shipping player spent approximately $64 million to acquire the 2020 built kamsarmax bulk carrier 81K DWT MV Sentosa Challenger and the 2020 built kamsarmax bulk carrier 81K DWT MV Sentosa Spirit from Danish shipowner and operator Dampskibsselskabet DS Norden A/S, a company with a legacy dating back to 1871 that operates a large fleet of dry cargo and tanker ships globally and is known for its active involvement in both the spot and period charter markets as well as for being one of the world’s leading operators of supramax, panamax, and kamsarmax ships, with a strategic focus on asset trading, risk management, and carbon-efficient shipping solutions. 19-June-2025

 

Microsoft has joined forces with Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S to reduce its maritime Scope 3 carbon emissions by utilizing the company’s biofuel-powered ships through a book and claim system already adopted by Mark Zuckerberg’s Meta. The pilot project, conducted with the Jan Rindbo-led shipowner and operator Dampskibsselskabet DS Norden A/S, aims to cut nearly 10,000 tonnes of CO2 emissions over a three-year period, with Microsoft receiving credited emissions reductions from biofuel-powered voyages without requiring physical cargo transportation on those specific ships. Dampskibsselskabet DS Norden A/S, founded in 1871 and headquartered in Copenhagen, is one of Denmark’s oldest and most respected shipping companies, operating a large fleet of dry cargo and product tanker ships worldwide. Dampskibsselskabet DS Norden A/S is publicly listed on the Nasdaq Copenhagen and is recognized for its commitment to digital innovation and environmental sustainability in maritime transport. With a strong focus on decarbonisation, Dampskibsselskabet DS Norden A/S has integrated biofuel usage and carbon accounting systems such as book and claim into its commercial strategy to provide climate-conscious transport solutions for major global clients like Microsoft and Meta. 22-May-2025

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has signed its inaugural port logistics agreement in Australia with Kimberley Metals Group, a developer and operator of iron ore mining projects. As part of the project, Dampskibsselskabet DS Norden A/S will contribute additional assets to support the transhipment operation that involves loading iron ore from the port of Wyndham in Western Australia onto barges and ocean-going ships. The agreement includes a fixed-term charter with the possibility of extension, and the launch of the first barge is scheduled for July 2025. This development enables Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S to further strengthen its position in the Australian market by expanding its integrated logistics and freight service offerings to both existing and prospective clients. The new contract enhances the partnership between Dampskibsselskabet DS Norden A/S and Kimberley Metals Group by merging the shipping company’s freight expertise with its logistics capabilities to optimize the entire port-to-port supply chain for Kimberley Metals Group. Established in 1871, Dampskibsselskabet DS Norden A/S is one of Denmark’s oldest and most prominent shipping companies, with a global presence and a diversified fleet that includes both dry cargo and tanker ships. Dampskibsselskabet DS Norden A/S operates more than 500 ships annually and offers a combination of asset trading, freight services, and integrated logistics solutions across major trade routes worldwide. The shipowner and operator Dampskibsselskabet DS Norden A/S is headquartered in Copenhagen, with offices in key maritime hubs including Singapore, Shanghai, Annapolis, Mumbai, and Santiago, and is recognized for its strong focus on digitalization, decarbonization, and long-term value creation for customers in the shipping industry. 20-May-2025

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has completed another sale of a bulk carrier after exercising a purchase option on a vessel that had been chartered in. The shipowner and operator Dampskibsselskabet DS Norden A/S, led by Jan Rindbo, has divested a previously leased handysize bulk carrier for an undisclosed amount, marking the latest in a series of recent asset transactions. In April 2025, Danish shipowner and operator Dampskibsselskabet DS Norden A/S announced the sale of an ultramax bulk carrier and a handysize bulk carrier, both of which were acquired through exercised purchase options. This most recent transaction brings the total number of ship disposals by Dampskibsselskabet DS Norden A/S in 2025 to 12, with six of those carried out via purchase options, in line with Dampskibsselskabet DS Norden A/S’s strategy to unlock asset value. Prior to this sale, the Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S had a fleet of 20 owned bulk carriers and 79 under long-term lease agreements, with close to 40 purchase options available throughout 2025. 3-May-2025

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has completed two additional asset play transactions with new sales in the dry bulk sector. The Danish shipowner and operator Dampskibsselskabet DS Norden A/S, led by Chief Executive Officer Jan Rindbo, has divested one unnamed ultramax bulk carrier and one handysize bulk carrier, having exercised purchase options on both ships. Dampskibsselskabet DS Norden A/S did not disclose further specifics regarding these latest transactions, which follow five previously announced ship sales.​ In March 2025, Dampskibsselskabet DS Norden A/S revealed the sale of two kamsarmax bulk carriers and one ultramax bulk carrier, all of which were part of exercised purchase options, along with the divestment of one MR tanker from its owned fleet. Additionally, the company finalized a sale and leaseback arrangement for one of its ultramax bulk carrier newbuildings scheduled for delivery in Q4 2025. Year-to-date, Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has sold a total of seven ships and completed three newbuilding sale and leaseback agreements that include purchase options. Following these strategic moves, Danish shipowner and operator Dampskibsselskabet DS Norden A/S currently owns 20 ships and maintains 79 vessels on long-term charters, 37 of which come with purchase options that may be exercised in 2025.​ Founded in 1871, Dampskibsselskabet DS Norden A/S is one of Denmark’s oldest internationally operating shipping companies. Headquartered in Hellerup, north of Copenhagen, Denmark, Dampskibsselskabet DS Norden A/S operates a global network with 18 offices across six continents, including locations in Singapore, Shanghai, Annapolis, Rio de Janeiro, Mumbai, Santiago, and Melbourne. Dampskibsselskabet DS Norden A/S is listed on Nasdaq Copenhagen as part of the OMX Nordic Large Cap index. Dampskibsselskabet DS Norden A/S operates a diverse fleet comprising both dry cargo and tanker vessels. Dampskibsselskabet DS Norden A/S’s dry cargo segment includes Handymax, Panamax, and Capesize vessels, while the tanker segment operates Medium Range (MR) and Handysize product tankers. As of the latest available data, Dampskibsselskabet DS Norden A/S operates approximately 542 vessels, including 369 dry cargo vessels and 94 product tanker vessels.​ Dampskibsselskabet DS Norden A/S’s operations are divided into three business segments: Asset Management, Dry Operator, and Tanker Operator. The Asset Management segment focuses on owning and chartering ships on a long-term basis, while the Dry Operator and Tanker Operator segments handle the transportation of bulk commodities and refined oil products, respectively. Under the leadership of Chief Executive Officer Jan Rindbo, Dampskibsselskabet DS Norden A/S has been actively pursuing a strategy of fleet optimization and asset trading. Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has engaged in numerous sale and purchase activities to maintain an agile and trading-oriented approach, allowing it to adapt to market opportunities and challenges effectively.​ In addition to its core shipping operations, Dampskibsselskabet DS Norden A/S is committed to environmental sustainability and decarbonization. Dampskibsselskabet DS Norden A/S has implemented various initiatives to reduce carbon emissions, including the use of biofuels and energy-efficient technologies. Dampskibsselskabet DS Norden A/S has also partnered with organizations like Teck Resources to lower CO2 emissions in the transportation of steelmaking coal, aiming to decrease yearly emissions by 25% through the use of fuel-efficient bulk carriers and advanced data analytics.​ With a strong emphasis on innovation, sustainability, and strategic growth, Dampskibsselskabet DS Norden A/S continues to solidify its position as a leading player in the global shipping industry. 14-April-2025

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has strengthened its presence in the capesize bulk carrier segment by securing contracts for two capesize bulk carrier newbuildings. Under the leadership of CEO Jan Rindbo, Dampskibsselskabet DS Norden A/S will oversee the charter of these two capesize bulk carriers, which come with purchase options. Scheduled to be built in Japan, the delivery of these ships is slated for 2026 and 2027. Details beyond this remain undisclosed. This development is a strategic move that corresponds with Dampskibsselskabet DS Norden A/S’s positive long-term forecast for the capesize bulk carrier market. The acquisition is expected to enhance Dampskibsselskabet DS Norden A/S’s capacity to provide reliable service to charterers and secure its position as a leader in environmentally sustainable and cost-effective shipping. This is particularly significant against the current challenges of an ageing fleet and a historically low order book. Founded in 1871, Dampskibsselskabet DS Norden A/S has a longstanding history in the maritime industry, characterized by a continuous adaptation to market changes while maintaining a commitment to sustainability and operational excellence. The company’s entry into the capesize bulk carrier market in 2023 marked a significant expansion of its operational scope, reflecting its adaptability and strategic planning capabilities. With the latest transaction, Dampskibsselskabet DS Norden A/S now manages a fleet comprising 13 owned and leased capesize bulk carriers, including seven newbuildings. Additionally, it operates ten capesize bulk carriers on short-term charters, reflecting its robust operational framework and dedication to meeting the diverse needs of its global clientele. Dampskibsselskabet DS Norden A/S is not just focused on expanding its fleet; it is also deeply invested in environmental stewardship. The company actively pursues opportunities to enhance the eco-efficiency of its operations through various initiatives, including investing in newer, more environmentally friendly vessels and adopting technologies that reduce emissions and increase fuel efficiency. Overall, Dampskibsselskabet DS Norden A/S’s latest moves in the capesize bulk carrier sector showcase its proactive approach to business growth, market responsiveness, and sustainability, ensuring it remains competitive in a rapidly evolving global shipping industry. 28-March-2025

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has recently completed five transactions in the dry and wet market segments, consistent with its strategy to realize asset values. The company has disposed of two kamsarmax bulk carriers and one ultramax bulk carrier, where purchase options were exercised, and has sold one MR tanker from its owned fleet. Dampskibsselskabet DS Norden A/S’s 2015-built MR2 tanker, MT Nord Swift, along with chartered-in 2020-built kamsarmax bulk carriers MV Sentosa Challenger and MV Sentosa Spirit, were sold to Greek shipowners in transactions totaling approximately $97 million. Additionally, Dampskibsselskabet DS Norden A/S has arranged to sell an ultramax bulk carrier newbuild, set for delivery at the end of 2025, which will be leased back under a time charter agreement with extension and purchase options. In 2024, Dampskibsselskabet DS Norden A/S expanded its owned fleet by exercising purchase options on one handysize bulk carrier and four MR tankers, securing them at prices below market value. Furthermore, the company has agreed to lease two new bulker newbuilds and signed a deal for up to four 17K DWT multipurpose newbuilds slated for delivery in 2026 and 2027. After these recent transactions, Dampskibsselskabet DS Norden A/S’s fleet will include 20 owned ships and 79 on long-term charters, with purchase options on 39 of these available in 2025. 21-March-2025

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S saw significant reductions in executive bonuses, with some staff receiving no bonuses at all. Staff pay is linked to company performance, yet 2024 proved to be a challenging year for Dampskibsselskabet DS Norden A/S’s asset-light model. The losses sustained by the Danish shipowner and operator Dampskibsselskabet DS Norden A/S’s vessel operating division in 2024 led to the decision that not all commercial staff would be awarded an annual bonus, as confirmed by CEO Jan Rindbo. Additionally, due to the financial setbacks experienced by its Freight Services & Trading business unit, Dampskibsselskabet DS Norden A/S’s employees did not receive bonuses for 2024. CEO Jan Rindbo clarified that the lack of bonuses was not uniform across all departments. Dampskibsselskabet DS Norden A/S, founded in 1871, has long been a significant player in the international shipping industry, specializing in both dry cargo and tankers. Over the decades, the company has focused on flexibility and reliability in its operations, managing a fleet that includes owned and chartered vessels. Dampskibsselskabet DS Norden A/S is known for its strategic approach to global trade, optimizing its assets in response to market conditions to ensure profitability and sustainability. Despite the economic challenges of 2024, the company continues to invest in innovative solutions and technologies to improve operational efficiency and reduce environmental impact, reinforcing its commitment to being a leader in the maritime sector. 7-February-2025

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S saw its profit impacted by four consecutive quarterly losses from its ‘asset-light’ business. The Dampskibsselskabet DS Norden A/S’s asset-light Freight Services & Trading division still reported no profit in Q4 2024. CEO Jan Rindbo-led shipowner and operator Dampskibsselskabet DS Norden A/S recorded another loss in its asset-light business during Q4 2024, marking a full year of financial setbacks and leading the ship owner-operator to adopt a more conservative approach in 2025. The bulk carrier and tanker markets in Q4 2024 were weaker than Dampskibsselskabet DS Norden A/S anticipated, causing the ship owner-operator to report a diminished result for the period. Dampskibsselskabet DS Norden A/S announced a net profit of $30m for Q4 2024. 6-February-2025

 

The recent departure of the entire team from the Santiago office of Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S to join rival Enesel Bulk Logistics (EBL) underscores a significant shift in the competitive landscape of the shipping industry. Dampskibsselskabet DS Norden A/S, a storied entity in the maritime sector, has long been recognized for its extensive operations and strategic global presence. This Danish shipping giant, which operates a diverse fleet tailored to the dynamic demands of global trade, is now facing a critical juncture as it seeks to manage and rebound from the loss of key personnel. Dampskibsselskabet DS Norden A/S’s Chartering Department is pivotal to its operations, specializing in the complex logistics of matching cargo with the appropriate vessel capacity across its broad network. This department plays a critical role in optimizing fleet utilization and maximizing profitability by negotiating freight contracts and strategically positioning vessels around the globe. The Chartering Department’s effectiveness is a cornerstone of Norden’s reputation for reliability and efficiency in the transportation of bulk and liquid commodities. The recent upheaval within the Santiago office presents both challenges and opportunities for Dampskibsselskabet DS Norden A/S. Historically, the office has been instrumental in spearheading the company’s expansion and operational strategies across the West Coast South America (WCSA) trade routes. The office’s growth from two employees in 2020 to a larger, more influential operation demonstrates its importance in Norden’s strategic global network. With the sudden exit of seven key staff members, the Chartering Department at Norden must now navigate a period of transition and restructuring. Ensuring continuity of service and maintaining client relationships in the WCSA region will be paramount. Additionally, the department will likely need to accelerate training and integration of new personnel to fill the gaps left by the departing team. Meanwhile, the move by the former Norden team to Enesel Bulk Logistics (EBL) signifies a bold step for the rival firm, which is actively looking to cement its presence on the global stage and diversify its operational bases. Enesel Bulk Logistics, through its bulker operating platform Itrade, is positioning itself as a formidable competitor, leveraging the expertise of its new team members to enhance its service offerings and expand its reach in critical markets. For Dampskibsselskabet DS Norden A/S, this development might catalyze a strategic reflection and potential recalibration of its business strategies. The company may look to strengthen its Chartering Department by potentially hiring experienced professionals and investing in advanced training programs to ensure its team is equipped to handle the complexities of modern maritime logistics and chartering. In summary, while the exit of a significant part of its Chilean office presents immediate challenges for Dampskibsselskabet DS Norden A/S, it also provides an impetus for renewal and strategic fortification. The company’s ability to navigate this change effectively will be crucial in maintaining its status as a leader in the global shipping industry and in continuing to deliver exceptional value to its stakeholders. 17-December-2024

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has strategically enhanced its fleet by acquiring five bulk carriers and entering into lease agreements for two additional bulker newbuilds as it prepares to transfer ownership of two older capesize bulk carriers. Led by Jan Rindbo, Dampskibsselskabet DS Norden A/S has opted to purchase one handysize bulk carrier and four MR tankers, acquiring them at prices reportedly below current market rates. The transition of ownership for these unnamed vessels is slated for the second quarter of 2025. Further expanding its capabilities, Dampskibsselskabet DS Norden A/S is set to incorporate one capesize and one handysize bulk carrier newbuild into its fleet in 2028. These vessels, to be constructed in Japan, come with lease-to-own options, although specific details of the transactions remain undisclosed. By securing newbuildings through leases, Dampskibsselskabet DS Norden A/S effectively positions itself in an advantageous spot amidst a global fleet that is aging and facing the smallest order book in decades, compounded by anticipated limited shipyard availability in the upcoming years. This strategy is expected to keep newbuilding prices and forward charter rates in the dry bulk sector strong. Dampskibsselskabet DS Norden A/S has also confirmed the sale of two capesize bulk carriers, the 2012-built MV Nord Energy and MV Nord Power, with deliveries scheduled for the first quarter of 2025. “This is a strategic divestiture of older, existing dry bulk carriers aimed at realizing net asset value and maximizing returns during a period when secondhand capesize bulk carrier asset prices are particularly high,” stated Dampskibsselskabet DS Norden A/S. Following these strategic moves, Dampskibsselskabet DS Norden A/S will manage a fleet comprising 17 owned vessels and 79 on long-term charters, equipped with purchase options, more than half of which are exercisable by the end of the fourth quarter of 2025. 3-December-2024

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has finalized an agreement with Mark Zuckerberg’s Meta for the adoption of sustainable fuels within its maritime supply chains. Meta, the company behind Facebook, aims to achieve net-zero emissions throughout its value chain by 2030. To this end, it has adopted the Book & Claim model which involves ships operated by Dampskibsselskabet DS Norden A/S using biofuel, with the emissions reductions credited to a third-party customer. Dampskibsselskabet DS Norden A/S adheres to the Smart Freight Centre’s framework for voluntary market-based measures in logistics emissions accounting and reporting. The shipowner and operator notes that the biofuels it utilizes can reduce life cycle emissions by 80–90%, with these savings certified by independent verifier Normec Verifavia and recorded on the external registry 123Carbon. “Our Book & Claim solution enables global marine transportation customers to benefit from emissions reductions through biofuels, even where biofuels are not physically available for specific routes or voyages,” stated Anne Jensen, chief of operations at Dampskibsselskabet DS Norden A/S. This solution allows Dampskibsselskabet DS Norden A/S’s direct customers and clients in various industries reliant on marine transportation to credibly support maritime decarbonisation efforts. Such innovative approaches are vital for companies like Meta to meet the demanding targets required to reduce their value chain emissions effectively. 27-November-2024

 

Dampskibsselskabet DS Norden A/S, based in Copenhagen, Denmark, is one of the oldest and most respected names in the international shipping industry. Founded in 1871, the company has a storied history that spans over a century and a half, during which it has established itself as a leader in the transportation of bulk and tanker cargoes. Today, Dampskibsselskabet DS Norden A/S operates a modern, versatile fleet, which includes dry cargo ships (bulk carriers) and tankers. The company specializes in the Panamax, Supramax, Handysize, and Capesize segments for dry cargo, while its tanker operations focus on small to intermediate size vessels. This diverse fleet allows DS Norden to serve a broad range of maritime transport needs worldwide, from the shipment of minor bulks such as coal and grains to liquid cargoes like oil products. DS Norden is known for its commitment to sustainability and responsible business practices. The company actively works towards reducing its environmental footprint through initiatives aimed at enhancing fuel efficiency and reducing emissions across its fleet. This focus on sustainability is aligned with global efforts to combat climate change and promotes eco-friendly maritime operations. In addition to its operational achievements, Dampskibsselskabet DS Norden A/S has a strong track record in financial performance. The company has consistently demonstrated resilience and adaptability in the face of fluctuating global markets. Its strategic approach to asset management, including timely acquisitions and disposals of vessels, has helped stabilize earnings and fuel long-term growth. In recent years, DS Norden has expanded its market presence through strategic sales and acquisitions of vessels. The sales of the MV Nord Energy and MV Nord Power in 2024 are part of this strategic fleet management. These transactions not only capitalize on market conditions but also align the fleet with the company’s long-term operational goals. Moreover, DS Norden’s leadership under CEO Jan Rindbo has been marked by a proactive approach to industry challenges and opportunities. Under his guidance, the company has not only expanded its fleet but has also ventured into new markets and embraced innovative technologies that enhance operational efficiency and competitiveness. Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S also prides itself on its corporate governance and transparency, adhering to high standards that reinforce trust with stakeholders. Its robust compliance framework ensures that operations across the globe meet not only international regulations but also local laws and guidelines, safeguarding the company’s reputation and operational integrity. Furthermore, DS Norden actively engages in community and industry initiatives that promote maritime safety, education, and environmental conservation. This commitment to corporate social responsibility is integral to its corporate ethos and is reflected in its various charitable activities and sponsorships. With a strategy firmly rooted in adaptive management and sustainable growth, Dampskibsselskabet DS Norden A/S is well-positioned to continue its legacy as a leading player in the global shipping industry. As it moves forward, the company remains dedicated to upholding the principles of innovation, efficiency, and responsibility that have guided its successful journey through the maritime sector. 26-November-2024

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has once again revised its annual earnings forecast downward due to persistently weak product tanker rates impacting its financial performance. The Danish shipowner-operator Dampskibsselskabet DS Norden A/S is preparing to sell an additional five vessels in transactions valued at approximately $25 million. The soft product tanker rates in the third quarter have continued to erode margins for the fleet operated under CEO Jan Rindbo, prompting Dampskibsselskabet DS Norden A/S to lower its profit projections once more. In a strategic move to leverage high market values and enhance liquidity, Dampskibsselskabet DS Norden A/S has finalized agreements to sell five more ships, with the anticipated sales profits expected to materialize in the fourth quarter of 2024. Founded in 1871, Dampskibsselskabet DS Norden A/S has a long-standing history in the maritime industry, operating both dry cargo and tanker fleets. The company’s fleet management is geared towards optimizing performance and sustainability, aligning with the latest environmental regulations. Dampskibsselskabet DS Norden A/S not only focuses on profitability but also emphasizes environmental stewardship and innovation in its operations. The decision to sell these vessels is part of a broader strategy to modernize the fleet and improve its environmental footprint, reflecting the company’s commitment to transitioning towards more efficient and eco-friendly shipping solutions. This strategic fleet optimization aligns with Dampskibsselskabet DS Norden A/S’s goal to remain competitive and responsive to the fluctuations in the global shipping market. 31-October-2024

 

Singapore-based shipowner and operator Pacific Rim Shipmanagemet Pte Ltd has acquired a capesize bulk carrier that was previously owned by Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S. This transaction, finalized in May 2024, involved Dampskibsselskabet DS Norden A/S’s first capesize bulk carrier since it entered the segment in March 2023. Pacific Rim Shipmanagemet Pte Ltd has expanded its fleet by adding the 2011 scrubber-fitted capesize bulk carrier 180K DWT MV Nord Ferrum for approximately $34 million. Initially reported in May 2024, the details of the buyer were not disclosed at the time. Presently, Pacific Rim Shipmanagemet Pte Ltd operates a fleet comprising 3 capesize bulk carriers and 2 Wood Chips Carriers. 5-August-2024

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has completed an agreement to purchase Norwegian dry bulk operator Norlat Shipping Ltd AS. Established in 1986 and headquartered in Sarpsborg, Norlat Shipping Ltd. AS is a specialist in transporting forest products and various bulk commodities, primarily trading from the Baltic/Continent to North Africa and North America. Norlat Shipping Ltd. AS operates from offices in Norway and Sweden, employing eight people who manage an asset-light operation involving chartered bulk carriers that handle four to five shipments monthly, predominantly using handysize bulk carriers. Known for its expertise in parceling business, Norlat Shipping Ltd. AS will enhance Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S’s capabilities in the Northern European forestry trade and provide new opportunities with charterers and cargoes. This acquisition, which aligns with Dampskibsselskabet DS Norden A/S’s previous purchase of Thorco Projects in 2023, is expected to create considerable growth and commercial synergies. Norlat Shipping Ltd. AS will be integrated into Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S’s projects and parceling team. Danish shipowner and operator Dampskibsselskabet DS Norden A/S has indicated that this acquisition will not impact its financial guidance for the current year. 22-July-2024

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S confirms newcastlemax bulk carrier purchases and charters in another MR tanker. Danish shipowner and operator Dampskibsselskabet DS Norden A/S states that these deals enhance its strategic position. Dampskibsselskabet DS Norden A/S has boosted its bulk carrier and tanker fleets through four Sale and Purchase (S&P) and charter deals so far in Q2 2024. The transactions focus on expanding its strategic position and enhancing its climate commitment, according to Dampskibsselskabet DS Norden A/S. The company has acquired two modern capesize bulk carriers while capitalizing on strong market conditions to offload an older capesize bulk carrier. 7-June-2024

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has fortified its position in the newcastlemax segment with the acquisition of two 2021-built scrubber-fitted newcastlemax bulk carriers, MV Trust Qingdao and MV Trust Shanghai, purchased from Singapore-headquartered Eastern Pacific Shipping (EPS) for approximately $146 million. This strategic acquisition marks Dampskibsselskabet DS Norden A/S’s second major expansion into large bulk carriers in 2024, following their earlier purchase of two newcastlemax vessels from Korean shipowner and operator Sinokor Merchant Marine Co. Ltd. in March 2024. The demand for newcastlemax bulk carriers has surged in 2024, with a total of 22 transactions recorded to date, nearly doubling the sales from the same timeframe in 2023. Dampskibsselskabet DS Norden A/S has been proactively expanding its large bulker portfolio since entering the capesize bulk carrier market in March 2023. The company has since acquired five capesize bulk carriers, including four 180K DWT capesize bulk carrier newbuilds from Namura Shipyard. One of these vessels was recently sold for a profit, underscoring the company’s adept asset management. Beyond these acquisitions, Dampskibsselskabet DS Norden A/S has a long-standing history and reputation within the shipping industry. Founded in 1871, the company has evolved into one of the leading global operators of bulk carriers, specializing in both dry cargo and tankers. It is known for its operational excellence, commitment to sustainability, and innovative approach to shipping solutions. Dampskibsselskabet DS Norden A/S actively pursues environmental initiatives, evidenced by its investment in fuel-efficient vessels and commitment to reducing its carbon footprint in line with international maritime regulations. The company’s strategic investments and fleet modernization reflect its ongoing efforts to adapt to changing market dynamics and enhance its service offerings across global trade routes. Dampskibsselskabet DS Norden A/S’s robust portfolio and its recent forays into the newcastlemax and capesize segments align with its broader goals of growth and sustainability, positioning it well for future market opportunities and challenges. 21-May-2024

 

Clarkson Securities, a subsidiary of the world’s largest shipbroker based in London, Clarkson PLC, suggests that other dry bulk stocks may currently be more appealing than the Copenhagen-based Dampskibsselskabet DS Norden A/S. Nonetheless, Clarkson Securities remains positive about Dampskibsselskabet DS Norden A/S’s prospects in the bulker market. The company, under the leadership of CEO Jan Rindbo, recorded a net profit of $62 million for Q1 2024 but faced significant losses in its trading division, which lost $27 million due to a short position in the dry bulk sector. When discounting the results from the trading division, Clarkson Securities has valued Dampskibsselskabet DS Norden A/S’s net asset value at $44.5 million. This valuation underscores the resilience of the Danish shipowner and operator’s fundamental business operations amidst the trading division’s challenges. 3-May-2024

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has experienced a significant profit decline due to substantial trading losses as bulker operating margins deteriorated. The Freight Services & Trading division of Dampskibsselskabet DS Norden A/S suffered notable losses due to adverse market conditions. Dampskibsselskabet DS Norden A/S, led by Jan Rindbo, has seen its financial performance impacted in the first quarter by poor operating margins on bulk carriers. While facing short-term challenges from increased dry cargo charter costs, Dampskibsselskabet DS Norden A/S noted that its tanker operations performed well. The Danish shipowner and operator, which manages bulkers and product tankers, reported a loss of $630 per vessel day across its 467-vessel fleet during the period. Dampskibsselskabet DS Norden A/S recorded a net profit of $62 million for the first quarter of 2024. 25-April-2024 

 

The wave of resignations at Dampskibsselskabet DS Norden A/S has continued, following a significant walkout in March 2024. Several staff members, particularly those involved in operations and emissions monitoring, are departing from the Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S. This trend marks another round of exits at the Dampskibsselskabet DS Norden A/S, which is listed on the Copenhagen Stock Exchange. In the midst of these departures, Dampskibsselskabet DS Norden A/S is actively recruiting new personnel to fill the gaps. Notably, Adam Nielsen, who has devoted his entire career to Dampskibsselskabet DS Norden A/S, is set to leave his role as head of logistics and climate solutions. This transition period for the Dampskibsselskabet DS Norden A/S highlights ongoing changes within its workforce and operational structure. 19-April-2024

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S sold 2015-constructed kamsarmax, 81K DWT MV Beluga (ex MV Nord Beluga) for an approximate $27 million to Athens-based shipowner and operator DryDel Shipping. MV Beluga (ex MV Nord Beluga) out for its ice-class certification and the incorporation of scrubber technology. Built in 2015 by Oshima Shipbuilding, MV Beluga (ex MV Nord Beluga) signifies a crucial step in the expansion of DryDel Shipping’s fleet. Following the acquisition of MV Beluga (ex MV Nord Beluga), DryDel Shipping’s inventory now comprises 11 bulk carriers, in addition to 19 chartered-in bulk carriers and 10 newbuilds slated for delivery between 2024 and 2026. 12-April-2024

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S CEO Jan Rindbo is addressing a series of notable staff departures. Jan Rindbo suggests that the recent wave of exits from the ship owning and operating company likely appears more significant from an external viewpoint. The most recent departure is that of Christian Vinther Christensen, who resigned from his role as COO (Chief Operating Officer) of Dampskibsselskabet DS Norden A/S’s asset-light Freight Services & Trading division, after dedicating over seven years to the firm. Jan Rindbo explained that the reason behind Christian Vinther Christensen’s exit was his wish to pursue a different lifestyle. 10-April-2024

 

Christian Vinther Christensen, the COO (Chief Operating Officer) of Norden, is part of a recent wave of departures at the Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S. In his latest role, Christian Vinther Christensen served as the commercial lead, a position that will now be divided between two executives overseeing the wet and dry sectors. After dedicating over seven years to Dampskibsselskabet DS Norden A/S, and previously having a substantial tenure at Western Bulk, Christian Vinther Christensen is leaving his position as the COO (Chief Operating Officer) of the Dampskibsselskabet DS Norden A/S’s Freight Services & Trading (FST) division. This move by Christian Vinther Christensen adds to the departure of four other team members from the bulker and product tanker operator. 9-April-2024

 

The head of supramax in the Atlantic at Copenhagen’s Dampskibsselskabet DS Norden A/S, Line Lund Clausen, has announced her departure to take up a new position with the bulker operator BaltNav. This move comes on the heels of four chartering shipbrokers exiting Dampskibsselskabet DS Norden A/S’s panamax department in March 2024, who subsequently joined the firm led by Greek shipping magnate George Economou, Classic Maritime. Line Lund Clausen, who previously spearheaded the supramax division for Dampskibsselskabet DS Norden A/S, will soon be transitioning to her new role at BaltNav, a company with operations in both Denmark and Singapore. This development was shared within the shipping community through updates from Dampskibsselskabet DS Norden A/S’s staff. 23-March-2024

 

After a record-setting performance, Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S’s profits have decreased, presenting a challenging year for the Danish shipowner to replicate its previous success. In 2023, Jan Rindbo-led shipowner and operator Dampskibsselskabet DS Norden A/S, which specializes in owning and operating bulk carriers and product tankers, continued to be profitable but didn’t reach the high earnings of the preceding year. Dampskibsselskabet DS Norden A/S attributed the decline in freight rates for both types of vessels to slower economic expansion, the resolution of supply chain issues, and escalating geopolitical tensions. Consequently, Dampskibsselskabet DS Norden A/S reported an annual profit of $400 million for 2023, a significant reduction from the $743.5 million recorded in 2022. 10-February-2024

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S is setting its sights on building a robust fleet of 25 capesize bulk carriers as it embarks on a fresh business venture. Jan Rindbo-led shipowner and operator Dampskibsselskabet DS Norden A/S, traditionally involved in shipowning and operating, is now pivoting towards an asset-light approach in the capesize bulk carrier market, with a burgeoning fleet already in operation. Intent on expanding its operations, Dampskibsselskabet DS Norden A/S is actively seeking to grow its fleet by engaging in new charter agreements and pursuing additional purchases, as indicated by company officials. The capesize division at Dampskibsselskabet DS Norden A/S has been bolstered by the arrival of Jesper Andersen in August, who took the helm of the capesize desk after his tenure as director of the South Pacific supramax and handysize desk at Oldendorff Carriers. 2-February-2024

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S acquired capesize bulk carrier. The Athens-based Transmed Maritime Ltd has successfully finalized the sale of a significant asset in its fleet, the 2023 built 182K DWT MV Capt Tasos, to the Copenhagen-based Dampskibsselskabet DS Norden A/S. This transaction is a notable expansion for DS Norden’s dry bulk portfolio, illustrating the company’s strategic growth in this sector. Under the leadership of Jan Rindbo, DS Norden invested over $70 million to acquire the MV Capt Tasos from Transmed Shipping Ltd. Constructed at Japan’s Namura shipyard and delivered in October, this vessel represents DS Norden’s increasing commitment to the capesize segment. The addition of MV Capt Tasos brings the company’s capesize fleet to five, since it first ventured into this segment in March 2023 with the purchase of four ships built between 2011 and 2012. Despite a significant reduction in its owned dry cargo fleet in 2022, DS Norden managed to maintain a fleet of seven bulkers by the end of the year. The company is preparing for the departure of the 2015-built kamsarmax MV Nord Beluga from its fleet. Nonetheless, DS Norden is actively reinforcing its position in the dry bulk market. In a strategic move in June 2023, the company placed an order for six ultramax bulk carriers with Dalian COSCO KHI Ship Engineering (DACKS), scheduled for delivery within the next two to three years. These decisions by DS Norden demonstrate a focused and proactive approach to enhancing and diversifying its dry bulk shipping operations, strategically positioning the company to capitalize on emerging opportunities in the global shipping market. 10-January-2024

 

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has initiated a new share buyback program worth $30 million. CEO Jan Rindbo-led shipowner and operator Dampskibsselskabet DS Norden A/S announced its intention to repurchase up to 1.2 million of its shares until February 2024 as part of this program, which commenced immediately. Dampskibsselskabet DS Norden A/S’s decision to embark on this share buyback initiative comes after reporting Q3 2023 results that, while profitable, reflected the impact of weaker freight markets for both bulk carriers and product tankers. Dampskibsselskabet DS Norden A/S’s goal with the share buyback program is to adjust its capital structure and hedge its obligations under employee incentive schemes. This move demonstrates Dampskibsselskabet DS Norden A/S’s proactive approach to managing its financial position and capital allocation in response to market conditions. 2-November-2023

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has welcomed Anne Jensen as the new Chief Operating Officer (COO) for its assets and logistics business unit. This division manages Dampskibsselskabet DS Norden A/S’s owned fleet and various other activities. Anne Jensen, with a background at companies like TotalEnergies, Maersk Oil, and Shell, will play a key role in expanding the Dampskibsselskabet DS Norden A/S’s assets and logistics business unit’s service offerings to customers. Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S’s focus on developing “integrated freight solutions” includes services related to port logistics and lower emission options. The assets and logistics unit encompasses CEO Jan Rindbo-led Dampskibsselskabet DS Norden A/S’s asset management, which oversees the company’s owned ships, as well as logistics and climate solutions, through which the company handles its lower-carbon freight services. Anne Jensen’s appointment reflects Dampskibsselskabet DS Norden A/S’s commitment to enhancing and diversifying the company’s services within the maritime industry. 31-October-2023

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S’s clarion call to maritime enterprises: Overlook not the present possibilities for decarbonisation. Dampskibsselskabet DS Norden A/S CEO Jan Rindbo posits that judicious vessel operation could garner carbon savings equivalent to 23 emission-free vessels. Should the maritime industry aspire to decarbonise, it must seize the moment; numerous measures exist today to curtail vessel emissions without the necessity of procuring new vessels. Such is the counsel of Danish shipowner and operator Dampskibsselskabet DS Norden A/S’s preeminent executive, Jan Rindbo, who desires to dispel the superfluous discourse on decarbonisation. 16-September-2023

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has teamed up with Canadian mining firm Teck Resources to cut down CO2 emissions in Teck’s steelmaking coal distribution chain. Dampskibsselskabet DS Norden A/S and Teck Resources collaboration is set to decrease yearly emissions from Teck Resources consignments overseen by Dampskibsselskabet DS Norden A/S by 25%, which amounts to a potential reduction of 6,700 tonnes of CO2. To achieve this, CEO Jan Rindbo-led shipowner and operator Dampskibsselskabet DS Norden A/S plans to utilize bulk carriers that are fuel-efficient and to integrate alternative fuels like biofuel. Dampskibsselskabet DS Norden A/S will also leverage advanced data analytics to refine bulk carriers’ speed and routes. Jonathan Price, Teck’s CEO, mentioned that Teck Resources collaboration with Dampskibsselskabet DS Norden A/S aims to lower the Scope 3 emissions related to transporting our steelmaking coal, thus diminishing our environmental impact and propelling our efforts to establish eco-friendly transport routes. Jan Rindbo, CEO of Dampskibsselskabet DS Norden A/S, added that Dampskibsselskabet DS Norden A/S’s approach involves assisting charterers in making their supply chains greener. Apart from Dampskibsselskabet DS Norden A/S’s long-term pledge to achieve carbon neutrality by 2050, Dampskibsselskabet DS Norden A/S has set interim targets to reduce carbon emissions by 2030. 16-August-2023

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S’s financial foundation is bolstered by the company’s resources and logistics, maintaining its trajectory towards the 2023 objective. CEO Jan Rindbo-led shipowner and operator Dampskibsselskabet DS Norden A/S has initiated a stock repurchase initiative, anticipating an unparalleled year for one of the company’s business sectors. Despite facing diminished bulk carrier rates and escalating product tanker expenses, Dampskibsselskabet DS Norden A/S remains steadfast in achieving its financial objectives. Dampskibsselskabet DS Norden A/S has refined its annual profit estimate to fall between $360 million and $420 million, attributed to the robust performance of Dampskibsselskabet DS Norden A/S’s assets and logistics division. 10-August-2023

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has made a significant move towards decarbonization by acquiring a share in a biofuel production firm. CEO Jan Rindbo-led shipowner and operator Dampskibsselskabet DS Norden A/S aims to embrace biofuel usage more extensively in the future but acknowledges that traditional offtake agreements alone cannot achieve the company’s decarbonization goals. Dampskibsselskabet DS Norden A/S reaffirms its commitment to incorporating bio-oil bunkers into the company’s operations. This is exemplified by Dampskibsselskabet DS Norden A/S’s recent acquisition of a minority stake in MASH Makes, a Danish-Indian company specializing in the advancement of biofuels. MASH Makes focuses on extensive research, development, and production of renewable fuels derived from biomass waste. 2-August-2023

 

Bunker supplier Peninsula has persisted in providing biofuel through a ship-to-ship transfer using one of its recently acquired 2021 built tanker 9K DWT MTHercules Sky to Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S controlled ultramax bulk carrier in Gibraltar. CEO Jan Rindbo-led shipowner and operator Dampskibsselskabet DS Norden A/S controlled ultramax bulk carrier accepted a biofuel blend, B24, derived from utilized cooking oil. The increasing demand for biofuels in the Mediterranean reinforces the bunker supplier Peninsula’s decision to include biofuel within its range of marine energy solutions. Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has been at the forefront of biofuel utilization for several years. Henrik Rojel, the head of decarbonization and climate solutions at Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S, emphasized the importance of cultivating a growing network of suppliers. Peninsula will concentrate its biofuel supply in pivotal ports where a sufficient critical mass exists. Gibraltar Strait provides an exceptional strategic advantage to capture the inevitable and imminent surge in biofuel demand. Peninsula has been progressively entails transitioning to offer greener marine bunkers. 10-July-2023

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has reserved six (6) ultramax bulk carrier new buildings 64K DWT for construction at Dalian COSCO KHI Ship Engineering (DACKS) to be delivered within 2025 and 2026. The monetary value for the ultramax bulk carrier new buildings, which will operate on both conventional marine oil and biofuel, remains undisclosed. These six (6) ultramax bulk carrier new buildings will be added to Dampskibsselskabet DS Norden A/S’s collection of owned and leased bulkers and product tankers, overseen by the company’s Assets & Logistics division. Since 2020, the division has executed over 135 asset plays. In 2023, Copenhagen-based CEO Jan Rindbo-led shipowner and operator Dampskibsselskabet DS Norden A/S held approximately six bulkers, having considerably downscaled its dry cargo fleet in 2022. Nonetheless, Dampskibsselskabet DS Norden A/S has gradually augmented its involvement in this sector. In March 2023, Dampskibsselskabet DS Norden A/S indicated its venture into the capesize bulk carrier segment through the acquisition of four (4) capesize bulk carriers in two separate transactions. Placing six (6) ultramax bulk carrier order is an integral component of Dampskibsselskabet DS Norden A/S’s asset trading strategy, enabling the company to enhance dry cargo capacity with forthcoming delivery. Dampskibsselskabet DS Norden A/S believe this will be compelling both in terms of freight and asset value. 23-June-2023

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S initiates the capesize department with a new addition from Oldendorff, aiming to establish a capesize business with fewer assets. According to Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S CEO Jan Rindbo, the objective is to elevate Norden’s status as a prominent operator within the largest category of bulk carriers. Jesper Andersen, who previously served as the director of the supramax and handysize desk for the South Pacific at Oldendorff Carriers, will assume the role of leading Dampskibsselskabet DS Norden A/S’s capesize desk. Jesper Andersen’s tenure with Oldendorff dates back to 2009, demonstrating his extensive experience in the industry. 15-June-2023

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S acquired two (2) more capesize bulk carriers. Jan Rindbo-led Dampskibsselskabet DS Norden A/S now owns a fleet of four (4) capesize bulk carriers, having bought two more in the secondhand market. In March 2023, Dampskibsselskabet DS Norden A/S acquired two (2) capesize bulk carriers from Monaco-based Michael Radziwill-led shipowner and operator GoodBulk Ltd (GBLK). Dampskibsselskabet DS Norden A/S did not give additional details about the latest capesize bulk carrier deal. With the move into capesize market, Danish shipowner and operator Dampskibsselskabet DS Norden A/S expands the company’s offering to cover all dry cargo sizes, providing added value to the charterers. Currently, Dampskibsselskabet DS Norden A/S operates around 543 bulk carriers and tankers. 3-April-2023

 

Danish shipowner and operator Dampskibsselskabet DS Norden A/S confirms dividend coming after market rumors at $3.33 per share for Q3 2022. Jan Rindbo-led Dampskibsselskabet DS Norden A/S has yet to report the company’s latest earnings reports. Copenhagen-listed shipowner and operator Dampskibsselskabet DS Norden A/S published a message stating the company had been made aware that there is news spreading in the shipping market regarding a potential dividend pay-out of $3.33 per share for Q3 2022. However, Dampskibsselskabet DS Norden A/S yet to settle on amount of dividend to disturb to investors. Danish shipowner and operator Dampskibsselskabet DS Norden A/S was established in 1871. Currently, Dampskibsselskabet DS Norden A/S operates around 541 bulk carriers and tankers. 31-October-2022

 

Danish shipowner and operator Dampskibsselskabet DS Norden A/S announces surprise dividends and new buybacks. Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has a fleet of product tankers and bulk carriers. Dampskibsselskabet DS Norden A/S has already made more net profit during H1 2022 than the company did during 2021 as a whole. Copenhagen-listed Dampskibsselskabet DS Norden A/S is transferring the wealth to the company’s shareholders after a wonderful Q2 2022 with a surprise interim dividend and a new share buyback programme. Record margins developed by Danish shipowner and operator Dampskibsselskabet DS Norden’s A/S freight business had a big pay-off for the company in Q2 2022. 18-August-2022

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has secured a stockpile of waste cooking oil. Dampskibsselskabet DS Norden A/S has held discussions with charterers about the first carbon-neutral freight contract. Dampskibsselskabet DS Norden A/S intends to start the service in 2022 as part of the company’s decarbonization plan. Jan Rindbo-led Dampskibsselskabet DS Norden A/S expressed that waste cooking oil is a 100% carbon-neutral biofuel that can be utilized in current vessels without any engine conversions. Dampskibsselskabet DS Norden A/S acknowledges there is a tremendous demand for carbon-neutral carriage from the company’s charterers. Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S anticipates securing extra sources of biofuels as international production boosts. Dampskibsselskabet DS Norden A/S considers biofuel as an extremely critical transition fuel on the company’s voyage to zero-carbon shipping. In 2019, Danish shipowner and operator Dampskibsselskabet DS Norden A/S signed a partnership with Kvasir Technologies on creating patented technology to make bunkers from plant material. Furthermore, Dampskibsselskabet DS Norden A/S has committed to introducing zero-carbon vessels by 2030. 6-April-2022

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S anticipates the risk of an international economic slowdown in 2022. Jan Rindbo-led Dampskibsselskabet DS Norden A/S has recently reported the company’s most profitable annual result since 2010. Danish shipowner and operator Dampskibsselskabet DS Norden A/S anticipates risks in the dry bulk market due to the war. Dampskibsselskabet DS Norden A/S generated good results in highly volatile dry bulk markets. According to Dampskibsselskabet DS Norden A/S, climbing inflation and increasing energy prices would eventually provoke a recession in the global economy which might disrupt demand for shipping. Dampskibsselskabet DS Norden A/S anticipates a negative dry bulk market due to the war in the Black Sea. Danish shipowner and operator Dampskibsselskabet DS Norden A/S predicts a loss of 4 million tonnes export volumes of grain from Ukraine in 2022. Ukraine’s invasion will potentially put more stress on the port infrastructure of other grain-exporting countries. Norden has had two bulk carriers on a charter that have been affected by the war. Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S loaded around 7% of our total volume of bulk cargoes in Russia. The Russian invasion of Ukraine simply affects Dampskibsselskabet DS Norden A/S. Dampskibsselskabet DS Norden A/S has determined not to take on new cargoes from Russia. 15-March-2022

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S appointed former Frontline CEO Robert Hvide Macleod to its board in the position of Tom Intrator. Jan Rindbo-led Dampskibsselskabet DS Norden A/S owns and operates bulk carriers and product tankers. Dampskibsselskabet DS Norden A/S BOD (Board of Directors) proposed and appointed former Frontline CEO Robert Hvide Macleod for the vacant seat on the board. Robert Hvide Macleod worked at Frontline from 2014 to 2020. Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S reported annual profit of $205 million for 2021. Dampskibsselskabet DS Norden A/S reported the best year since 2010. Dampskibsselskabet DS Norden A/S has been considering a buyback of up to $50 million of bond issue maturing in June 2024. Furthermore, Dampskibsselskabet DS Norden A/S has been considering a share buyback worth up to $30 million. Danish shipowner and operator Dampskibsselskabet DS Norden A/S anticipates a $280m profit for 2022. 10-March-2022

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S reported a net profit of $65 million for Q3 2021. Dampskibsselskabet DS Norden A/S reported a net profit of $26 million for Q3 2020. Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S reported the company’s best quarter since 2010 on the back of robust dry bulk markets. Jan Rindbo-led Dampskibsselskabet DS Norden A/S owns and operates bulk carriers and product tankers. Dampskibsselskabet DS Norden A/S benefited from an advantageous position in quite robust dry bulk markets. The market value of Dampskibsselskabet DS Norden A/S’s dry bulk carrier portfolio proceeds to increase. Furthermore, Dampskibsselskabet DS Norden A/S has been achieving this condition by covering contracts and ship sales. Dampskibsselskabet DS Norden A/S will realize $13 million in earnings from ship sales during the Q3 2021. Dampskibsselskabet DS Norden A/S anticipates a strong Q4 2021 for the company’s dry bulk division. Dampskibsselskabet DS Norden A/S anticipates the dry bulk market to continue at strong levels in 2022. Dampskibsselskabet DS Norden A/S’s product tankers came up against competition from crude carriers in the spot market. Dampskibsselskabet DS Norden A/S announced that the company is waiving short-term operating profits by taking on more time-charter coverage for its tankers. Dampskibsselskabet DS Norden A/S has sold seven (7) bulk carriers to profit from the soaring ship values. 3-November-2021

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S reported owned and leased fleet value increased by $258 million. Dampskibsselskabet DS Norden A/S reported the strongest quarterly result since 2015. According to Dampskibsselskabet DS Norden A/S, high steel prices and raised newbuilding costs are also increasing the ship values. Danish shipowner and operator Dampskibsselskabet DS Norden A/S believes tankers are at the bottom of the market right now and the company expects a significant improvement in the tanker market. Dampskibsselskabet DS Norden A/S anticipates the Q3 2021 will be better than ever for the dry cargo market. Dampskibsselskabet DS Norden A/S anticipates the port congestions will resume and take capacity out of the dry bulk market, while cargo supply will remain strong. Dampskibsselskabet DS Norden A/S expects to report full-year adjusted earnings between $140 million and $220 million. Danish shipowner and operator Dampskibsselskabet DS Norden A/S operates around 450 ships in its fleet at any one time. 22-August-2021

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S reported a net profit of $31.8 million in Q2 2021. Dampskibsselskabet DS Norden A/S has reported the best quarterly result since 2015. Danish shipowner and operator Dampskibsselskabet DS Norden A/S reported a net loss of $14.9 million in Q1 2021 due to slumping product tanker markets. Dampskibsselskabet DS Norden A/S offset the results in Q2 2021 by revenue from the dry bulk sector. Jan Rindbo-led Dampskibsselskabet DS Norden A/S is increasing the company’s forecasts for its annual result by an extra $20 million. Dampskibsselskabet DS Norden A/S built a pretty robust dry cargo position at the beginning of 2021, which the company will profit from during the rest of 2021. Danish shipowner and operator Dampskibsselskabet DS Norden A/S has also seen the market value of the fleet increase by $258 million in Q2 2021 due to the strong dry bulk markets. 17-August-2021

 

Danish shipowner and operator Dampskibsselskabet DS Norden A/S will try to raise $100 million through a bond issue. Dampskibsselskabet DS Norden A/S announced it has brought in investment banks Pareto Securities and SEB as joint lead managers and book-runners. Dampskibsselskabet DS Norden A/S anticipates selling $100 million initially, but the maximum bond issue amount has been set at $150 million. In the prevailing investment environment, asset-light Dampskibsselskabet DS Norden A/S views bonds as an engaging option. $100 million will be used to support Dampskibsselskabet DS Norden A/S’s business growth. In Q1 2021, Dampskibsselskabet DS Norden A/S reported a net loss of $6 million due to the weak product tanker market. In Q1 2021, Dampskibsselskabet DS Norden A/S reported a revenue of $603 million. Dampskibsselskabet DS Norden A/S started 2021 with short positions and a modest number of open ships relative to possible cargoes. 15-June-2021

 

Danish shipowner and operator Dampskibsselskabet DS Norden A/S sold 2007 built MR1 product tanker 37k DWT MT Nord Bell and 2007 built MR1 product tanker Nord Hummock for around $9 million each. Dampskibsselskabet DS Norden A/S has been shifting from tanker shipowner and operator to dry bulk asset-light operator. Recently, Dampskibsselskabet DS Norden A/S has published the acquisition of seven (7) more unnamed dry bulk carriers on long-term charter terms. According to Dampskibsselskabet DS Norden A/S, the has acquired 33 dry bulk carriers since Q1 2020, and shifting from tankers to dry bulk carriers has been well-timed. Recently, Dampskibsselskabet DS Norden A/S has accomplished an asset play with MV Nord Stellar. Dampskibsselskabet DS Norden A/S keeps looking for such dry bulk market opportunities. 17-April-2021

 

Danish shipowner and operator Dampskibsselskabet DS Norden A/S sold 2016 built kamsarmax bulk carrier 82K DWT MV Nord Stellar (ex MV SBI Zumba) for around $25 million. In December 2020, Dampskibsselskabet DS Norden A/S acquired MV Nord Stellar (ex MV SBI Zumba) from Scorpio Bulkers for around $20 million. Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S has performed a successful asset play. In March 2021, Dampskibsselskabet DS Norden A/S acquired 2020 built kamsarmax bulk carrier 82K DWT MV UWS 2 and 2020 built kamsarmax bulk carrier 82K DWT MV UWS 3 from Japanese shipowner Mitsui & Co. Dampskibsselskabet DS Norden A/S became an asset-light ship operator. 12-April-2021

 

Danish shipowner and operator Dampskibsselskabet DS Norden A/S ordered another two (2) ultramax bulk carrier new-buildings 61K DWT at Nantong Cosco KHI Ship Engineering (NACKS). Nantong Cosco KHI Ship Engineering (NACKS) is a joint venture between Cosco Shipping Corp and Kawasaki Heavy Industries. In June 2020, Dampskibsselskabet DS Norden A/S ordered four (4) ultramax bulk carrier new-buildings at the same shipyard. Dampskibsselskabet DS Norden A/S attempts to seize dry cargo asset opportunities. Dry bulk carrier prices are about 20% lower today than 2018 levels. Dampskibsselskabet DS Norden A/S sold and leased back two (2) ultramax bulk carriers that were previously ordered. Furthermore, Dampskibsselskabet DS Norden A/S acquired 2014 built bulk carrier 61K DWT MV MI Harmony for around $16 million from Itochu Corporation. 10-August-2020

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S reported the company’s third consecutive year in profit in 2019. Furthermore, Dampskibsselskabet DS Norden A/S reported the company’s best quarter since Q4 2015. Danish shipowner and operator Dampskibsselskabet DS Norden A/S opted for a plan to become a more trading-oriented shipping operator. Dampskibsselskabet DS Norden A/S strives to return more capital to shareholders. Dampskibsselskabet DS Norden A/S owns and operates both bulk carriers and tankers. Dampskibsselskabet DS Norden A/S BOD (Board of Directors) has submitted a dividend of $0.37 per share for the full year. Danish shipowner and operator Dampskibsselskabet DS Norden A/S had not distributed a dividend since 2015. Dampskibsselskabet DS Norden A/S strives to increase dividends to shareholders and will execute a unique dividend approach for 2021. Dampskibsselskabet DS Norden A/S seeks to distribute dividends based on a minimum 50% ratio of the annual adjusted result. Despite weak bulker markets during Q4 2019, Dampskibsselskabet DS Norden’s A/S dry bulk team had reported the company’s best quarter of the year with an adjusted result of $14 million. Dampskibsselskabet DS Norden’s A/S tanker team had reported an adjusted result of $15 million. In Q4 2019, Dampskibsselskabet DS Norden’s A/S dry bulk team had reported a net profit of $8 million. Dampskibsselskabet DS Norden’s A/S dry bulk team had reported a revenue of $2.6 billion for 2019. Danish shipowner and operator Dampskibsselskabet DS Norden A/S has reorganized the company’s business divisions into asset management, dry operator, and tanker operator segments. Dampskibsselskabet DS Norden’s A/S asset management segment represents the conventional market value of the owned and leased fleet. Furthermore, Dampskibsselskabet DS Norden’s A/S technical, commercial and research teams have been merged. This system permits Dampskibsselskabet DS Norden A/S to cope with the volatility of the shipping marketplace. This system permits Dampskibsselskabet DS Norden A/S to take advantage of the This system permits Dampskibsselskabet DS Norden A/S by picking the most suitable ships, at the suitable cost, to serve the charterers. Jan Rindbo-led Dampskibsselskabet DS Norden A/S anticipates to report even better results in 2021. In 2020, Dampskibsselskabet DS Norden A/S will resume performing towards developing a more resilient, and ambitious company. 7-March-2020

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S cooperates with Kvasir Technologies to produce bunkers from plant material. Danish shipowner and operator Dampskibsselskabet DS Norden A/S seeks to produce feasible bunkers from effortlessly available and encountered in enormous amounts lignin, a plant material seen as a waste by-product. Copenhagen-based Kvasir Technologies has patented technology to produce bunkers from biomass substances. Dampskibsselskabet DS Norden A/S desire to move the shipping industry towards a cleaner future. Dampskibsselskabet DS Norden A/S believes that testing carbon fuel alternatives is a good starting point. Previously, Copenhagen-listed shipowner and operator Dampskibsselskabet DS Norden A/S tested biofuels in a trial with GoodFuels. Kvasir Technologies’ lignin-based bunkers will be tested on one of Dampskibsselskabet DS Norden’s A/S ships at a later phase. 4-December-2019

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S reported an adjusted net loss of $4 million for Q3 2019. Scrubber installations onboard Danish shipowner and operator Dampskibsselskabet DS Norden’s A/S tankers have affected the company’s Q3 2019 results. Dampskibsselskabet DS Norden A/S has determined to start a share buy-back programme of up to $10 million in total. Dampskibsselskabet DS Norden A/S expressed that the tanker unit’s loss was due to seasonally soft spot rates and tankers were taken out of charter for planned scrubber installations. Dampskibsselskabet DS Norden’s A/S BOD (Board of Directors) approved for the buyback programme on 11 April. The Q1 2019 was challenging for Dampskibsselskabet DS Norden A/S with an occasional trading possibility. The Q3 2019 has provided more opportunities for Dampskibsselskabet DS Norden A/S. In late October 2019, Danish shipowner and operator Dampskibsselskabet DS Norden A/S reduced the company’s profit expectations for 2019 after uncovering an error in the bookkeeping. Dampskibsselskabet DS Norden A/S repeated this recommendation and added that the company anticipates a robust Q4 2019. 5-November-2019

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S strives to more dividends to shareholders. Dampskibsselskabet DS Norden A/S is tweaking the company’s finances setup ahead of what Dampskibsselskabet DS Norden A/S anticipates to be a strong Q4. In 2019, Dampskibsselskabet DS Norden A/S sold nine ships. Dampskibsselskabet DS Norden A/S lowered the company’s capital cost and declared a share buyback plan. Copenhagen-listed shipowner and operator Dampskibsselskabet DS Norden A/S notices the new share buyback programme as a method of producing cash to shareholders and boosting the value of the company’s shares. Dampskibsselskabet DS Norden A/S has been concentrating on asset-light evolution in the shipping business. Danish shipowner and operator Dampskibsselskabet DS Norden A/S intends to spend up to $10 million on purchasing a maximum of 4.22 million of the company’s shares during the programme. Dampskibsselskabet DS Norden A/S will run share buy programme until 28 February 2020. According to Dampskibsselskabet DS Norden A/S, there have been exceptionally few profitable years since the international financial crisis in 2008 and numerous investors have lost interest in shipping. Dampskibsselskabet DS Norden A/S expressed that the returns in the shipping industry have not been very profitable in that period. Dampskibsselskabet DS Norden A/S won’t be selling any additional ships for the time being. Dampskibsselskabet DS Norden A/S focus on asset-light business model. Dampskibsselskabet DS Norden A/S anticipates a more robust Q4. Quite weak demand and quite low rates for Dampskibsselskabet DS Norden’s A/S fleet in Q3 2019. Furthermore, Dampskibsselskabet DS Norden A/S will be affected by IMO (International Maritime Organization) regulations for emissions which the fleet has to switch to a new bunker type. Dampskibsselskabet DS Norden’s A/S operated bulk carrier fleet placed itself successfully during Q3 2019. In Q3 2019, Dampskibsselskabet DS Norden A/S operated around 285 bulk carriers. Danish shipowner and operator Dampskibsselskabet DS Norden A/S has been decreasing the owned fleet. Currently, Dampskibsselskabet DS Norden A/S has a fleet of owned 14 bulk carriers. 4-November-2019

 

Danish shipowner and operator Dampskibsselskabet DS Norden A/S has secured a contract of affreightment (CoA) to ship wood pellets across the Atlantic for charterers Enviva. Copenhagen based shipowner and operator Norden has been in an expansion of its relationship with charterers Enviva. Currently, Enviva is the world’s largest wood pellet producer and started wood pellet exports from Pascagoula. 2021 to 2026 contract of affreightment (CoA), shipowner Norden will transport between around 1.5 million tons of wood pellets from the United States to Europe. Shipowner and operator Dampskibsselskabet DS Norden A/S and Enviva have been dealing since 2012 and the latest CoA cemented their good relationship. Shipowner Norden is led by CEO Jan Rindbo. Dampskibsselskabet DS Norden A/S will carry wood pallets with supramax bulk carriers. CEO Jan Rindbo stated that collaboration with Enviva has enabled Norden to play a leading role in the fast-growing market for sustainable wood bioenergy, as an increasing number of electric power generating plants convert from coal to wood pellets in order to reduce their lifetime carbon emissions. Previously, Norden signed a separate three-year contract of affreightment (CoA) with Enviva. Dampskibsselskabet DS Norden A/S will transport coal from Indonesia to Hong Kong for Enviva. Coal contract of affreightment (CoA) will cover the period from 1 January 2020 to 31 December 2022. Dampskibsselskabet DS Norden A/S will transport around 1.3 million tons of coal per year on panamax bulk carriers from Indonesia to Hong Kong for Enviva. 18-August-2019

 

Copenhagen-listed shipowner and operator Dampskibsselskabet DS Norden A/S signed a three-year COA (Contract of Affreightment) with Qatar Vinyl Company. Dampskibsselskabet DS Norden’s A/S three-year COA (Contract of Affreightment) with Qatar Vinyl Company will commence in Q3 2019. Dampskibsselskabet DS Norden A/S will carry salt cargoes from West Coast India to Qatar every month with a supramax bulk carrier. Dampskibsselskabet DS Norden A/S signed a three-year COA (Contract of Affreightment) with Qatar Vinyl Company for approximately 500Ktons of salt annually. Danish shipowner and operator Dampskibsselskabet DS Norden A/S increased the number of fleet in the Arabian Gulf, which permits Dampskibsselskabet DS Norden A/S to further expand the activities in the region. Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S expressed the three-year COA (Contract of Affreightment) with Qatar Vinyl Company would make utilizing the fleet in the Arabian Gulf more efficient. Dampskibsselskabet DS Norden A/S has been expanding the company’s presence in the Middle Eastern area. 23-May-2019

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S is embracing a more asset-light strategy. Recently, Dampskibsselskabet DS Norden A/S reported the sale of four (4) bulk carriers. Dampskibsselskabet DS Norden A/S controlled bulk carrier fleet decreased to 16. Furthermore, Dampskibsselskabet DS Norden A/S aims spilling into its product tanker business. Danish shipowner and operator Dampskibsselskabet DS Norden A/S took the company into a more tradeable position. Now, Dampskibsselskabet DS Norden A/S can adjust to shifts in the market. Copenhagen-listed shipowner and operator Dampskibsselskabet DS Norden A/S owned bulk carrier fleet must be of a size where the company can change the positions. Dampskibsselskabet DS Norden A/S does not want to be stuck with a long-only position. Dampskibsselskabet DS Norden A/S believes that it will be a challenge to make adequate returns by simply keeping a long-only position. To yield better margins, Dampskibsselskabet DS Norden A/S must change the fleet positions much faster, in line with the dry bulk shipping market. Since Q1 2017, Dampskibsselskabet DS Norden A/S sold 12 bulk carriers. Dampskibsselskabet DS Norden A/S has not acquired new bulk carriers since Q1 2017. However, Dampskibsselskabet DS Norden A/S acquired afew tankers during that period. Copenhagen-listed shipowner and operator Dampskibsselskabet DS Norden A/S has been gradually reducing the size of the owned fleet. Dampskibsselskabet DS Norden A/S has split the dry cargo business into two divisions. Dampskibsselskabet DS Norden A/S is now only active in the handy, supramax, and panamax segments. Dampskibsselskabet DS Norden A/S has also been growing asset-light in tanker segment. Dampskibsselskabet DS Norden A/S thinks that the asset-light strategy is well-suited to today’s business world because shipping markets and world trade have been becoming increasingly unpredictable. There has been more volatility in world trade. Thus, owning a fleet of bulk carriers is not acceptable for a corporation like Dampskibsselskabet DS Norden A/S. Danish shipowner and operator Dampskibsselskabet DS Norden A/S aims to be a knowledge-based company rather than asset-based. 23-April-2019

 

Copenhagen based shipowner and operator giant Norden has opened its first African office in Abidjan, Ivory Coast. Dampskibsselskabet DS Norden A/S has been active in Africa for many years. Norden carries 2 million tonnes of cargo from Africa to Europe annually. Copenhagen listed Norden mainly carry cement, bauxite, and manganese ore from Africa. Norden’s CEO Jan Rindbo explains the reason for opening a new office in Africa is part of Norden’s continued global expansion in order to be closer to clients and charterers. Excluding Antarctica, Dampskibsselskabet DS Norden A/S has offices on all continents. Henning Fotland will be managing Norden office in Abidjan, Ivory Coast. Previously,  Henning Fotland and Christian Christensen were working for Western Bulk. In 2016, Henning Fotland and Christian Christense joined Norden A/S. Henning Fotland and his new colleagues in Abidjan, Ivory Coast will be in charge of generating new business development in Africa. Dampskibsselskabet DS Norden A/S local presence will help increase imports from the Mediterranean and the Far East. Local presence will provide direct access to attractive bulk cargoes besides current business. Africa has a bright future. Africa’s population will double by 2050 that gives a fantastic business opportunity and a responsibility, particularly for those involved in world trade, to ensure Africa is brought up to a level where this population growth is sustainable, people have jobs, and a future that is bright. Norden A/S Abidjan office aims to double Norden’s market share from the present 2% to 3% level in other words from $40 million to $60 million in profit unit from 2021 onward. Dampskibsselskabet DS Norden A/S supports the United Nations sustainable development goal in infrastructure in Africa and invests accordingly. 22-March-2019

 

Krishnapatnam based Indian electric supplier Sembcorp Energy has granted a 10-year steam coal contract of affreightment (COA) to Danish shipowner and operator Dampskibsselskabet DS Norden A/S. Dampskibsselskabet DS Norden A/S will employ panamax fleet to carry steam coal COA for Indian power plants. Dampskibsselskabet DS Norden A/S owns 5 panamax dry bulk carriers and has a further 6 on time-charter. Dampskibsselskabet DS Norden A/S will support the soaring demand for energy in India Sembcorp Energy. A 10-year contract of affreightment (COA) comprises a total of 12 million tonnes of steam coal. Dampskibsselskabet DS Norden A/S will load steam coal from ports in Indonesia and South Africa and discharged at the port of Krishnapatnam. Indian electric and utility company Sembcorp Energy operates two coal-fired power plants near Krishnapatnam. 31-January-2019

 

Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S set to book the company’s first adjusted annual profit since 2011. Dampskibsselskabet DS Norden A/S increased full-year projection backed by the company’s dry bulk division. Dampskibsselskabet DS Norden A/S anticipates 2017 to report an adjusted result of approximately $30 million. The expected advancement in profits is a result of a stronger than envisioned performance in Q4 2017 in both the dry bulk and tanker industry. Danish shipowner and operator Dampskibsselskabet DS Norden A/S reported an adjusted profit in the balance sheet in 2011. Jan Rindbo-led Dampskibsselskabet DS Norden A/S had smallish dry cargo coverage for 2018 than the company normally would, with a 1% dry bulk fleet growth for 2018. 1% dry bulk fleet growth is the lowest level, the shipping market has had since 1999. 17-January-2018

 

Oslo based financial investor Rasmussengruppen sold its entire stake which is 4.8 million shares of dry bulk bulker owner Norden. Rasmussengruppen shares worth $89.7 million. Copenhagen based dry bulk carrier owner and operator Norden’s stock is currently trading at DKK 114.90. Oslo based financial investor Rasmussengruppen was the second biggest investor in Norden, after the Danish company Motortramp on 28.08%. Oslo based financial investor Rasmussengruppen originally bought dry bulk shipowner and operator Norden’s stocks 13 years ago. 3-December-2017

 

Danish shipowner and operator Dampskibsselskabet NORDEN A/S’s handy bulk carrier M/V Nord Quebec had a deadly incident. Canada’s Transportation Safety Board has deployed a team of inspectors after a deadly incident in 2013 built handy bulk carrier 36K DWT M/V Nord Quebec during berthing at Trois-Rivieres Port in Quebec, Canada. Canada’s Transportation Safety Board will collect data and evaluate the circumstance of a deadly incident. Onboard of MV Nord Quebec, a 38-year-old Filipino crewman was struck by a mooring line in Quebec, Canada. 25-May-2017

 

Norden CEO Jan Rindbo commented that dry boom to cool down during 2017 and reflect on ship values. In Q1 2017, dry bulk rates skyrocketed by Chinese iron ore and coal imports which were faster than expected. Norden CEO Jan Rindbo believes that China would not be able to sustain growth rates until Q4 2017 and slow demand prevail in the dry bulk market. Baltic Dry Index and FFA markets triggered secondhand panamax dry bulk carriers now worth 28% more than January 2017. Norden CEO Jan Rindbo believes that the dry bulk market is getting towards the end of a delivery boom in 2018. Denmark based DS Norden reported a profit of $1 million in Q1 2017 with the help of tanker division. 3-May-2017

 

Norden is projecting a $16.5 million per year saving from a fuel efficiency both owned and chartered tonnage. Denmark based shipowner and operator Norden started the Fuel Efficiency project in 2012. Bunkers account for 45% of the Danish shipowner’s voyage expenses. Norden owned ships fuel efficiency increased by vessel paint, propeller polishing, and hull cleaning. Copenhagen based Norden has a fleet of 236 dry bulk carriers which is 40% owned and 60% chartered in tonnage. 31-March-2017

 

Danish shipowner and operator Norden is strengthening the dry cargo operating platform in 2017. Danish shipowner and operator Norden’s new divisional boss Christian Christensen from Western Bulk Chartering. Danish shipowner and operator Norden CEO Jan Rindbo said that Norden refuses to sit idle and wait for the market to improve from the historical lows and wants to increase business significantly in the coming years. Norden wants to ensure the best combination of cargoes and ships on the market. Danish shipowner and operator Norden has a dry cargo fleet of 80 vessels mostly chartered in ships. 19-December-2016

 

Dampskibsselskabet NORDEN A/S not right now looking at selling further dry bulk carriers.
Danish shipowner and operator Dampskibsselskabet NORDEN A/S has sold out of the capesize and postpanamax dry bulk carriers in 2016 and offloaded 4 handysize dry bulk carriers in order to focus on the panamax and supramax sectors. Dampskibsselskabet NORDEN A/S says the dry bulk market is oversupplied and due to too much overcapacity NORDEN is not in rush to buy more vessels. 1-September-2016

 

Danish Shipowner Dampskibsselskabet NORDEN A/S sold the 32K DWT M/V Nord Hong Kong, M/V Nord Houston, M/V Nord London and M/V Nord Vancouver for $6.3 million each to Clipper Bulk. Last week NORDEN A/S also sold four (4) post-panamax bulk carriers to Oldendorff, SwissMarine and Laskaridis Shipping. Dampskibsselskabet NORDEN A/S remained with 8 owned handysize ships and will charter in tonnage to operate. 17-June-2016

 

Navios Maritime chartered out a pair of panamax bulkers to Dampskibsselskabet NORDEN A/S for 12 months. 2005 built panamax bulk carrier 76K DWT MV Navios Taurus and 2005 built panamax bulk carrier 77K DWT MV Navios Helios will both earn rates linked to spot indices. According to Baltic Exchange data, Navios Maritime will receive 6% above the Baltic Panamax Index time-charter equivalent average for the MV Navios Helios and MV Navios Helios will earn a 4% premium over the same index. 27-January-2016