Norden Shipping

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