During Q4 2021, NORDEN’s Asset Management team has made 10 transactions, capitalising on the strong dry cargo market, while optimising the tanker portfolio in line with NORDEN’s climate commitments.
In the dry cargo segment, NORDEN is making use of 10-year high asset prices to secure significant sales profits on its owned fleet, having sold 4 vessels during Q4 2021.
Sales profits and higher paying time charter cover on dry cargo vessels will benefit results in 2022.
In the product tanker segment, NORDEN has replaced a couple of older tanker vessels with modern, fuel-efficient vessels, adding 2 secondhand MR tankers built in 2020 as well as 2 leased newbuildings, which are scheduled for delivery in 2023. Henrik Lykkegaard Madsen, Head of Asset Management, elaborates: “This is part of optimising our tanker portfolio fleet with modern ECO-vessels as part of our climate strategy, as we believe customers will increasingly favour vessels with the lowest emissions.”
After these transactions, NORDEN owns 12 dry cargo vessels and 18 product tankers with the option to acquire an additional 72 vessels through purchase options on leased vessels.
These trading activities reflect NORDEN’s asset trading strategy and active portfolio management, whereby the Company continuously identifies trading opportunities and ways to optimise its vessel portfolio.
For more information, please contact
Anne-Louise Dam-Rasmussen, Head of Communications
ald@norden.com / +45 2156 1564
Thomas France, Investor Communications Partner
tfr@norden.com / +45 3315 0451
