Norden Dry Bulk expectations

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 was faster than expected. Norden CEO Jan Rindbo believes that China would not be able to sustain growth rates till Q4 2017 and slow demand prevail 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 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 by the help of tanker division.