Norden Enters Capesize Segment with “High exposure and Relatively Few Transactions”

Denmark’s Norden lines up more capesize buys to portfolio of five owned and seven chartered capesize vessels.

Norden buys four capesize newbuildings in an investment that brings its owned fleet of the larger bulkers up to nine vessels.

With this latest acquisition, adding to the five owned and seven chartered capesize vessels, Norden gradually moves closer to its ambition to operate between 20-25 capesizes.

The vessels were not identified but were described by the company as “state of the art”. The four capesizes are expected to be delivered between 2025-2027.

The owner said that with this move, which is a “testament to the long-term opportunities the company sees in the dry cargo markets”, will be able to create a customer offering across all dry cargo sizes.

Jan Rindbo, chief executive of Norden, said: “With our latest investments in not only Capesizes but also in Projects & Parcelling and logistics, we are now able to provide our customers with a truly unique full-service approach across all dry cargo segments, with a strong focus on decarbonisation.”

Last year, as reported by Shipping Telegraph, the firm entered the capesize segment with the acquisition of four capesize vessels.

The company acquired the four vessels in two separate transactions in order to improve its portfolio of freight service solutions towards its dry-segment customers.