Danish based tanker and bulker shipowner NORDEN just announce, that the company recently has placed for delivery in the next two to three years a newbuilding order for six dry cargo vessels from Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS), which is a joint venture between COSCO Shipping and Kawasaki Heavy Industries.

All six orders are for Supramax vessels with a capacity of 64,000 deadweight tonnes, and this vessel type is among the most fuel-efficient ship designs in the market, which can use both traditional marine oil and biofuel, notes Henrik Lykkegaard Madsen, Head of Asset Management at Norden.

The company considers biofuel to be a key transition fuel on the journey to reduce emissions and offer greener shipping solutions to the customers it is mentioned.

Henrik Lykkegaard Madsen, Head of Asset Management, also says that “Placing this newbuilding order is an integrated part of our asset trading strategy, whereby we can add dry cargo capacity with future delivery, which we think will be interesting both from a freight and asset value perspective. This is also supported by the current low orderbook which will see very few deliveries between now and the delivery of these vessels”.

Having made sizeable reductions in the owned dry cargo fleet during 2022, NORDEN only owned around 6 dry cargo vessels at the end of Q1 2023. During 2023, NORDEN has gradually added more exposure towards the dry cargo market, effective from 2024 onwards.

Since 2020, the company say that the Assets & Logistics business unit has conducted more than 135 asset trades, as part of continuously adapting NORDEN’s overall exposure in dry cargo and product tankers and making use of short-term market opportunities for asset trading.