Denmark’s Norden, a shipping company known for its ocean-based freight services for bulk and project cargo of all sizes, is making a significant move to strengthen its presence in the project cargo sector. The company revealed yesterday the addition to its fleet portfolio of two new 17,500 dwt multi-purpose (MPP) vessel leases with purchase options.
These new additions, expected for delivery by the end of 2026, come with an option for two further vessel leases.
Specifically, the company has the option of declaring an additional two vessel leases with delivery in 2027.
After these two new leases, Norden will operate a fleet of 45 specialised vessels designed to transport windmill components, large-scale batteries, industrial plant components and break-bulk cargoes, such as steel and forestry products.
The project cargo segment is a part of Norden’s ocean-based global freight service for dry and liquid bulk cargo of all sizes, spanning almost 500 vessels in total.
Since entering the project cargo segment in 2023, the company’s focus has been on growth within this part of the business.
According to Norden, the multi-purpose segment currently benefits from favourable supply fundamentals with a rapidly ageing fleet and low orderbook, coupled with a strong projected demand outlook.
“To further enhance our service to customers, Norden is building a core fleet of multi-purpose general cargo vessels,” noted Thomas N. Mikkelsen, head of projects and parcelling at Norden.
“We are dedicated to becoming a leading project carrier and provide our customers with efficient shipping solutions and the addition of these vessels underscores our commitment to innovation and decarbonisation in the maritime industry,” Mikkelsen added.
Norden said the new vessels, which are biofuel compatible, feature an innovative design with the bridge located at the front of the ship, optimising cargo space capacity for project cargo such as windmill blades.
