Search results for: Norden

584 results

A list of search results

  • 11 August 2015
    Business & Finance

    Danish shipping company Norden A/S has decided to combine a number of management functions and reduce its executive management team from 5 to 3 members with immediate effect. As a consequence, Norden’s current CFO Michael Tønnes Jørgensen and Executive Vice President Lars Bagge Christensen will resign. They will be available for Norden during a short period […]

  • 21 June 2017
    Business & Finance

    Danish shipping company Dampskibsselskabet Norden A/S revealed it has bought a 2010-built MR product tanker.  The Japanese-built vessel has a cargo capacity of 48,000 tons and is expected to join Norden’s owned fleet in July 2017. The purchase represents Norden’s second acquisition of an MR product tanker within a month. Earlier in June, the company […]

  • 19 December 2014
    Business & Finance

    Danish shipping company Norden said that it has secured three new credit facilities, worth a total of USD 187 million. Two loans have been agreed with Scandinavian banks and the remaining one with a Japanese bank. The said financing puts USD 433 million of undrawn credit facilities at Norden’s disposal, the company added. The new credit facilities will be used for partial […]

  • 11 August 2015
    Business & Finance

    Danish shipping company Norden A/S has decided to combine a number of management functions and reduce its executive management team from 5 to 3 members with immediate effect. As a consequence, Norden’s current CFO Michael Tønnes Jørgensen and Executive Vice President Lars Bagge Christensen will resign. They will be available for Norden during a short period […]

  • 8 June 2017
    Business & Finance

    Danish shipping company Dampskibsselskabet Norden A/S (Norden) has purchased a 2009-built MR product tanker with a cargo capacity of 50,000 tonnes, taking advantage of low asset prices on the back of weakening tanker markets. The South Korean-built vessel is expected to be delivered in July 2017 and will be renamed Nord Pearl. The purchase marks Norden’s […]

  • 26 March 2019
    Business & Finance

    Norden disposed of four dry cargo vessels in the past few weeks. 

  • 11 November 2015
    Business & Finance

    Danish shipping company Norden will focus on ownership and operation of four vessel types supplemented by operation of Handysize dry cargo vessels, under its newly adopted strategy ”Focus and Simplicity”. “The newly established department Asset Management will ensure that Norden utilises all attractive opportunities to invest in the 4 vessel types in the primary business area, while no […]

  • 27 September 2017
    Business & Finance

    From 2020 to 2029, Norden’s Supramax vessels will be carrying road salt from Chile as the Danish shipping company has entered into a 10-year contract with Chilean company Empremar, a subsidiary of salt producer K+S.  The contract covers 8-10 voyages per year of 50,000 tons each. A voyage is expected to take approximately 30 days […]

  • 2 March 2016
    Business & Finance

    Danish shipping company Dampskibsselskabet NORDEN A/S (Norden) recorded a full-year loss of USD 285 million, cutting the USD 416 million loss reported in 2014 for almost a half. The company’s EBIT was in line with recently announced expectations reaching USD 282 million loss. According to Norden, the results were impacted by write-down and provision for onerous contracts […]

  • 1 June 2011

    NORDEN has ordered 4 MR product tankers from the Korean yard STX Offshore & Shipbuilding Co., Ltd. The vessels which have a cargo capacity of 49,600 dwt. are scheduled for delivery in the first and second quarters of 2013. NORDEN has options on 2 additional vessels from the yard. The vessels will be equipped with […]

  • 6 March 2018
    Business & Finance

    Norden returned to black in 2017 driven by a strong performance in the fourth quarter of the year.

  • 1 June 2011
    Business & Finance

      NORDEN has ordered 4 MR product tankers from the Korean yard STX Offshore & Shipbuilding Co., Ltd. The vessels which have a cargo capacity of 49,600 dwt. are scheduled for delivery in the first and second quarters of 2013. NORDEN has options on 2 additional vessels from the yard. The vessels will be equipped […]

  • 17 August 2010

    Danish shipper D/S Norden (DNORD.CO) posted a bigger-than-forecast rise in earnings for the second quarter, helped by higher activity and good rates in its dry bulk business, and raised its 2010 outlook. It was Norden’s second upgrade of its 2010 outlook within two months, following an increase towards the end of June.

  • 28 December 2015
    Business & Finance

    Danish shipping company Dampskibsselskabet NORDEN A/S (Norden) has decided to sell the Capesize dry cargo vessel Nord Power built in 2005. Norden said that the sale would entail an accounting loss of USD 12 million, which will be included in the annual results for 2015. The 176,000 tdw vessel will be delivered to the new owners […]

  • 5 December 2019
    Business & Finance, Rules & Regulation

    The project will see the duo explore the characteristics of biofuel and prove its suitability for future use.

  • 19 February 2015
    Business & Finance

    Danish shipping company Dampskibsselskabet Norden A/S has entered into agreement on reduction of future time charter payments with unnamed Japanese shipowners, relating to nine vessels on long-term charter. The company did not disclose any details regarding the type of vessels in question. As part of the agreement, Norden has made a one-off payment of USD 51.5 million […]

  • 25 October 2012
    Business & Finance

    NORDEN’s score has improved significantly in the independent British non-profit organisation Carbon Disclosure Project’s yearly and latest assessment of climate change disclosure practises. Scoring 90 points versus 82 in 2011, NORDEN is now ranked 7 (in 2011: 17) in the 2012 Carbon Disclosure Leadership Index and is, also this year, the only shipping company in […]

  • 4 May 2016
    Business & Finance

    Miserable conditions in the dry bulk market have pushed Danish shipping company Dampskibsselskabet NORDEN A/S (Norden) to a loss of USD 5 million in the first quarter of 2016, compared to a profit of USD 27 million in the same period last year.  The company’s operating earnings also reached a loss of USD 1 million. In […]

  • 17 June 2015
    Business & Finance

    Copenhagen-based tramp ship operator Dampskibsselskabet NORDEN A/S has contracted Lloyd’s Register to class 57 ships, including the full NORDEN fleet and other externally managed NORDEN owned ships. Some 32 of the ships in the agreement will be transfer of class (ToC) ships and include nine new ships which will transfer to LR upon delivery. In addition, 16 […]

  • 20 May 2013
    Business & Finance

    Norden A/S, an independent shipping company headquartered in Copenhagen, Denmark, has extended its agreement with Harris CapRock Communications to provide broadband communications to Norden’s global fleet of 39 bulk carrier and tanker vessels. The agreement expands an initial contract awarded in March 2012 to support 39 vessels. Harris CapRock will provide each Norden vessel with […]

  • 4 March 2015
    Business & Finance

    Danish shipping company Dampskibsselskabet Norden A/S reported a USD 416 million loss in its annual results for 2014 amid severely worsened dry cargo market. The results were also affected by value adjustments on hedging instruments winding down in USD 61 million loss, Norden said. The group’s EBITDA constituted a loss of USD 261 million due to […]

  • 5 April 2017
    Business & Finance

    Danish shipping company Dampskibsselskabet Norden A/S has entered into an agreement on long-term chartering of two new Medium Range (MR) tankers scheduled for delivery in 2018. The new additions will be a supplement to four other MR vessels, which the company ordered, and which are slated for delivery during the coming 18 months, the company’s Chairman Klaus […]