Norden Says More Scrapping Needed to Restore Balance

COPENHAGEN, March 2 (Reuters) - Danish shipping company D/S Norden said the dry cargo market reached its lowest point last year and will not recover this year under the weight of overcapacity and the Chinese economy's transition away from an industrial economy. China's insatiable appetite for coal and iron ore that profitable freight rates for dry cargo vessels has now gone, … [Read more...]

Norden Sells Capesize Bulker at $12 Million Loss

Danish shipping company Norden says it has sold a 10 year old capesize bulk carrier for a loss, allowing the company to focus more on smaller vessel types that are at the core of its business.  Norden announced the sale Monday, saying it has agreed to sell the the 176,000 dwt Nord Power, which will entail an accounting loss of $12 million to be included in its annual … [Read more...]

Norden Trims Focus: Danish Owner Plans Exit from Capesize and Post-Panamax Vessel Segments

  By Ole Mikkelsen COPENHAGEN, Sept 21 (Reuters) - Danish shipping company D/S Norden plans to cut the number of vessel types it operates to help it through a long-depressed shipping market that could be about to get worse due to a slowdown in China, the company's chief executive told Reuters. With around 250 vessels, Norden is a major global player in areas such … [Read more...]

Lloyd’s Register Bags Entire Norden Fleet

A total of 32 ships will be transferred to Lloyd's Register class as part of new agreement that covers a total of 57 ships including the entire fleet of Danish shipping company Norden AS. Leading tramp ship operator Dampskibsselskabet NORDEN A/S, based in Copenhagen, contracted LR to class 57 ships, including the full Norden fleet and other externally managed Norden owned … [Read more...]

Grounded Norden Bulker Blocks Busy South American Waterway

By Pablo Gonzalez (Bloomberg) -- Pigs in China and bakers in Brazil will have to wait as Argentine exports from soybeans to wheat are delayed by the closing of the Parana River’s main channel. The route to Rosario port -- from where 80 percent of Argentina’s grains and oilseeds are shipped -- is blocked after the Nord Hydra, laden with coal, ran aground on Tuesday, 290 … [Read more...]