Norden Grows Its Capesize Fleet

Danish shipowner Norden says it is focused on expanding its fleet of Capesize bulk carriers. 

During the first two months of Q2 2024, the company added two new modern Capesize vessels (2021) to its owned fleet, while at the same time capitalizing on the current strong market conditions by divesting an old Capesize vessel (2011).

In addition, one MR tanker was chartered in.

Henrik Lykkegaard Madsen, Norden's Head of Asset Management, said, “These transactions are part of optimizing our Capesize fleet with modern vessels in line with our climate strategy, as we believe customers will increasingly favor vessels with the highest fuel efficiency and lowest emissions.”

After these transactions, Norden owns seven product tankers and 19 dry cargo vessels of which 10 dry cargo vessels are purchased with future delivery.

The company said it also has the option to acquire an additional 82 vessels during the coming years through purchase options on leased vessels.