Norden Announces Sale of Five Vessels

Danish shipping company Norden has recently made significant changes to its fleet, with the sale of five vessels. This move is part of Norden’s strategy to optimize its fleet composition and focus on its core business operations.

Out of the five vessels that were sold, three were declared purchase options. These included two Kamsarmaxes and one Ultramax vessel. This strategic decision highlights Norden’s commitment to adapting to market dynamics and ensuring the efficiency of its fleet.

In addition to the declared purchase options, Norden also sold one MR tanker vessel from its active owned fleet. Furthermore, an Ultramax newbuilding, set to deliver at the end of 2025, was also included in the sale. However, Norden has structured a lease-back agreement for the Ultramax newbuilding, ensuring continued utilization of the vessel.

With these recent transactions, Norden’s asset portfolio now consists of 20 owned vessels and 79 long-term leases with purchase options. Notably, 39 of these purchase options can be declared before the end of 2025, indicating potential flexibility in Norden’s fleet management approach.

Overall, Norden’s strategic sale of vessels reflects its commitment to staying agile in a dynamic shipping market. By optimizing its fleet composition and leveraging lease-back agreements, Norden aims to enhance operational efficiency and maintain a competitive edge in the industry.