For the third quarter of 2022, NORDEN reports a profit of USD 243 million (Q3 2021: USD 65 million).
NORDEN CEO, Jan Rindbo, comments:
“NORDEN’s third quarter net profit of USD 243 million and 64% return on equity is a testimony to our unique trading model. During the quarter, NORDEN generated high dry cargo earnings in a weakening market. In addition, our large exposure to tankers enabled NORDEN to capitalise on surging tanker rates. As we head towards 2023, we expect to continue to benefit from our large exposure to tankers while profiting from a fully covered dry cargo portfolio. This positions NORDEN to continue to deliver strong returns to our shareholders”.
Interim report - third quarter 2022
