Dry CargoEurope

Norden plans dry bulk growth

Norden has outlined plans to grow more as an operator rather than an owner in the dry bulk market. In an interview carried in the latest in-house magazine Norden’s ceo Jan Rindbo said: “Activity as an operator is not something new to Norden, but it is our ambition to increase this business segment significantly in the coming years. The rates in the dry cargo market are historically low, but operator activities have the advantage of being less dependent on market trends, and we can therefore make earnings within these activities also during hard times. There are plenty of cargoes in the market and there are plenty of available vessels which can be chartered at reasonable prices – for a couple of trips or just one. Our task is to ensure the best combination of cargoes and vessels, so we can make money on it.”

At the end of the third quarter, there were 180 vessels in Norden’s dry cargo fleet – 80 in the core fleet (20 owned and 60 on long-term charter) and 100 vessels on short-term charter.

“Norden is not idly standing by waiting for rates in the dry cargo market to improve. We act and we have big ambitions for our operator activities,” Rindbo stressed.

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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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