3 December 2024
To optimise our vessel portfolio, NORDEN has also entered into two new dry cargo leases with purchase options - one Capesize newbuilding and one Handysize newbuilding - both will be built in Japan with expected deliveries in 2028. We are committed to replace older vessels with high-quality newbuildings featuring state-of-the-art designs and the best available fuel performance, which will further enhance our freight service to customers. Henrik Lykkegaard Madsen, Head of Asset Management comments: "By leasing newbuildings, we position ourselves advantageously against the backdrop of an ageing global fleet and the lowest orderbook in decades. With tight shipyard availability anticipated in the coming years, newbuilding prices and forward charter rates in the dry cargo sector are expected to remain robust." Furthermore, as a strong testament to the value upside and agility of our business model, NORDEN has also exercised five purchase options below current market asset prices. The five purchase options are related to one Handysize dry cargo vessel and four MR tankers, and they will be added to our portfolio of owned vessels during H1 2025. After these transactions, NORDEN's asset portfolio will consist of 17 owned vessels and 79 long-term leases with purchase options - of which 43 can be declared before the end of 2025. ![]() Image by NORDEN About NORDEN NORDEN is a global provider of ocean-based freight services for bulk and project cargo of all sizes. We integrate freight solutions with port logistics, helping our customers to optimise and decarbonise supply chains. We provide tailored solutions based on flexibility, reliability and intelligence. Our agile business model ensures stability by continuously adapting our fleet to market developments and customer needs. Founded in 1871, NORDEN is one of Denmark's oldest internationally operating shipping companies. Incorporated in Denmark, we are listed on Nasdaq Copenhagen as a part of the OMX Nordic Large Cap index. With 18 offices across 6 continents, NORDEN is a truly integrated part of global trade. NORDEN press release ![]() |