Image: Norden
Saying that it sees “attractive dry cargo asset opportunities after a long period with declining values,” Danish driver Norden A/S has actually included 2 even more Ultramax vessels to its existing newbuilding collection on order at China’s Nantong Cosco KHIShip Engineering Co (NACKS). This takes Norden’s complete orders at the shipbuilder to 6 vessels. Subject to last conclusion of terms, Norden has actually currently offered 2 of these under a sale and also leaseback setup, liberating liquidity.
In enhancement, Norden has actually acquired a pre-owned 2014-built Supramax mass provider, likewise constructed at NACKS, that is set up to sign up with the Norden fleet in September.
Chief Executive Officer Jan Rindbo keeps in mind that the trading tasks remain in line with the Norden’s approach of property trading and also energetic monitoring of the firm’s intermittent market direct exposure.
“These deals represent great tactical asset opportunities for Norden, which we are here acting on,” claimsJan Rindbo “Tonnage prices are about 10-20% lower today than 2018/2019 levels, when Norden sold 10 vessels.”
The vessels will certainly sign up with the core fleet of Norden possessed and also lasting legal vessel and also completely dry freight vessels under the firm’s Asset Management service device.
