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Norden offloads two tankers, adds two bulkers

Danish owner and operator Norden continues to shift its exposure from tankers to dry bulk, revealing the sale of two tankers and the acquisition of two bulkers.

Norden has sold the 2009-built 50,000 dwt MR tanker Nord Pearl, which it first acquired in 2017, and the 2008-built 38,400 dwt handysize tanker Nord Butterfly.

Nord Pearl has been snapped up by Spain’s Marflet Marine, with the sale price quoted by VesselsValue as $16.3m, while Nord Butterfly is reported as sold to Greece’s Ancora Investment for $9m.

Meanwhile, Norden has added to its fleet of bulkers, picking up a supramax which is set for delivery this month and a kamsarmax scheduled for deliver in April. No further details of these acquisitions were revealed.

Jan Rindbo, CEO of Norden, commented: “For the next 12 months, we see more favourable market conditions and potential upside in the dry cargo market, as the world economy gradually recovers following Covid-19.

“Our asset trading strategy means we continually look for opportunities in the market to optimise our fleet, and it provides us the flexibility to adjust our ongoing exposure towards either dry cargo or tankers, depending on the given market developments.”

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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