Copenhagen: Following dialogue with a number of large Japanese owners Denmark’s Norden has managed to work out savings in relation to nine vessels on long-term charter
As part of the agreement the company has made a one-off payment of $ 51.1m, in return for a reduction on time-charter payments over the next four years. The payments will be reduced by $ 62m.
“Overall, the change in the time charter agreements does not affect operations in the period from 2015-2018. After the one-off payment of $ 51.5m, Norden’s cash and securities amount to $220m while undrawn credit facilities amount to $ 419m,” the line said in a statement.