Dampskibsselskabet Norden A/S
F:D69
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Dampskibsselskabet Norden A/S
F:D69
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Dampskibsselskabet Norden A/S
D/S Norden A/S is an independent shipping company, which operates in dry cargo and product tankers worldwide. Its operations are divided into two business segments: Dry Cargo and Tankers. The Dry Cargo business segment operates Handymax and Panamax dry cargo vessels, as well as has activities in the Handysize, Post-Panamax and Capesize vessel types. The Tankers business segment operates Medium Range (MR) and Handysize product tankers. The firm has offices in Denmark, Singapore, China, India, the United States and Brazil, as well as offices at shipyards in Asia. The firm's subsidiaries are Norden Shipping singapore Pte Ltd, NORDEN Tankers & Bulkers USA Inc., NORDEN Tankers & Bulkers do Brazil Ltda. and Nortide Shipping III Ltd.
D/S Norden A/S is an independent shipping company, which operates in dry cargo and product tankers worldwide. Its operations are divided into two business segments: Dry Cargo and Tankers. The Dry Cargo business segment operates Handymax and Panamax dry cargo vessels, as well as has activities in the Handysize, Post-Panamax and Capesize vessel types. The Tankers business segment operates Medium Range (MR) and Handysize product tankers. The firm has offices in Denmark, Singapore, China, India, the United States and Brazil, as well as offices at shipyards in Asia. The firm's subsidiaries are Norden Shipping singapore Pte Ltd, NORDEN Tankers & Bulkers USA Inc., NORDEN Tankers & Bulkers do Brazil Ltda. and Nortide Shipping III Ltd.
Net Profit: NORDEN reported a Q3 net profit of $26 million, mainly driven by asset management and vessel sales.
Guidance Raised: Full-year profit guidance was increased to $100 million–$140 million, reflecting better operational performance and rising markets.
Asset Transactions: The company executed 45 asset transactions so far this year, actively optimizing its fleet.
NAV Growth: Net asset value rose 7% in the quarter to DKK 362 per share, supported by higher asset values.
Freight Business Mixed: Freight Services & Trading posted a $14 million loss, but smaller dry vessels and tankers were profitable; improvements are expected to continue.
Market Outlook: Management sees strong fundamentals in both dry cargo and tanker markets, helped by geopolitical uncertainties and sanctions.
Long Market Position: NORDEN is maintaining a long position in both dry cargo and tankers into 2026–2027, expecting to benefit from current market momentum.
