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Norden orders four NACKS ultramaxes

Norden has put pen to paper for four ultramaxes to be built at Nantong Cosco KHI Ship Engineering Co (NACKS). The 61,000 dwt ships will deliver in 2022.

Norden CEO Jan Rindbo said today the newbuilding decision is in line with the company’s strategy of agile asset trading and active management of Norden’s cyclical market exposure.

“Having sold 10 dry cargo vessels since 2018, we believe asset prices have now declined sufficiently to present a good trading opportunity to buy,” Rindbo said.

Henrik Lykkegaard Madsen, Norden’s head of asset management, commented: “With a demand outlook gradually returning to normal and a low orderbook, we believe it’s a good time to buy assets and secure competitively priced tonnage.” 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.


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