Norden Selected for Long-Term Indian Contract
- Business & Finance
Danish shipping company Norden has signed a ten-year Panamax contract of affreightment (COA) with Indian utility firm Sembcorp Energy India.
From April 1, 2019, until March 31, 2029, Norden will carry out transportation of steam coal in Panamax shipments totaling 12 million tons over the decade.
“This contract not only allows us to show our commitment to growing our presence in India, but also enables us to position vessels across the load and discharge port regions, where they can be deployed to fulfill other contracts,” Jan Rindbo, CEO of Norden, commented.
The contract covers transport from various load ports in Indonesia and South Africa to the discharge port of Krishnapatnam in East Coast India.
The voyages will be carried out on both Norden-owned and -chartered vessels.
Norden operates a total of 249 dry cargo and 60 tanker vessels and has six ships on order.
Demand for energy in India is on the rise in line with the country’s economic expansion. Sembcorp Energy India is an independent power producer in India which owns and operates two coal fired supercritical power plants near the port of Krishnapatnam in East Coast India.