NORDEN Expands Fleet With Modern Capesize Vessels

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Transactions & Expansion

During the first two months of Q2 2024, NORDEN has made four transactions, focusing on expanding the strategic position and enhancing the climate commitment within dry bulk by adding two new modern Capesize vessels (2021) to the owned fleet, while at the same time capitalising on the current strong market conditions by divesting an old Capesize vessel (2011).

Henrik Lykkegaard Madsen, Head of Asset Management, elaborates: “These transactions are part of optimising our Capesize fleet with modern vessels in line with our climate strategy, as we believe customers will increasingly favour vessels with the highest fuel efficiency and lowest emissions.”

Portfolio And Strategy

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

Furthermore, NORDEN has the option to acquire an additional 82 vessels during the coming years through purchase options on leased vessels.

These trading activities reflect NORDEN’s active portfolio management strategy, whereby opportunities to optimising the vessel portfolio is continuously identified.

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Source: Norden

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