NORDEN orders newbuildings

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NORDEN has entered into a newbuilding contract with Nantong Cosco Khi Ship Engineering Co. (“NACKS”) for 4 x 61,000 dwt dry cargo “Ultramax” ships, expected to deliver during 2022.

NORDEN CEO Jan Rindbo notes that the newbuilding contract is in line with the company’s strategy of agile asset trading and active management of NORDEN’s cyclical market exposure.

“Having sold 10 dry cargo vessels since 2018, we believe asset prices have now declined sufficiently to present a good trading opportunity to buy,” notes Jan Rindbo.

Source: Norden