Interim report - second quarter and first half-year of 2017 and video: NORDEN Update


Some highlights:

Second quarter of 2017

  • Results
  • Adjusted result for Q2 2017: USD -3 million (Q2 2016: USD -4 million)
  • Dry Cargo: USD -7 million (USD -11 million)
  • Tankers: USD 3 million (USD 7 million)
  • Group EBIT Q2 2017: USD -3 million (USD -34 million) 


Expectations for 2017

  • Expectations for the adjusted results for the year are narrowed within the guidance previously announced to USD -20 to 20 million. 


”In Dry Cargo, the gradual recovery in both market conditions and our earnings continues, although still at loss-making levels. Strategically we are building a strong platform for increased value generation in Dry Cargo through the split into 2 distinct dry cargo business units: Operator and Owner. In Tankers, NORDEN made the best of a very challenging market generating a profit and increasing the capacity at attractive cost levels. Combined with continued annual operational cost savings and highly skilled employees, NORDEN is thereby well-positioned towards improving markets in both dry cargo and tankers in the future.” CEO Jan Rindbo


Announcement no. 7