Norden Shipping

18-August-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 has 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.

22-March-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 in 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.

31-January-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. 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.

3-December-2017

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.

25-May-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.

3-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 was 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 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.

31-March-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 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.

19-December-2016

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.

1-September-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 dry bulk market is over supplied and due to too much overcapacity NORDEN is not in rush to buy more vessels.

17-June-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 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.

27-January-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.