Norden said it made a number of asset trades during the fourth quarter of last year, capitalising on the strong dry cargo market while optimising its product tanker portfolio.<\/p>\n
The Danish owner and operator sold four bulkers during Q4 2021, making use of ten-year high asset prices to secure significant sales profits. \u201cSales profits and higher paying time charter cover on dry cargo vessels will benefit results in 2022,\u201d the company said.\u00a0<\/p>\n
Meanwhile, in the product tanker segment, Norden has replaced a couple of older tanker vessels with modern, fuel-efficient vessels, adding 2 secondhand MR tankers built in 2020 as well as 2 leased newbuildings, which are scheduled for delivery in 2023. \u201cThis is part of optimising our tanker portfolio fleet with modern eco-vessels as part of our climate strategy, as we believe customers will increasingly favour vessels with the lowest emissions,\u201d said Henrik Lykkegaard Madsen, head of asset management.<\/p>\n
Following these transactions, Norden owns a fleet of 12 dry cargo vessels and 18 product tankers with the option to acquire an additional 72 vessels through purchase options on leased vessels. In December last year<\/a><\/span>, the company announced it had consolidated three business segments into two, one focused on investments and the other on asset-light freight services.<\/p>\n