Norden News

Danish shipowner Norden announced it has acquired four Capesize newbuilds expected to be delivered between 2025-2027.With the latest investments, adding to the five owned and seven chartered Capesize vessels, Norden is moving toward its ambition to operate between 20-25 Capesizes.The company said it has seen "strong demands from customers looking to unlock economies of scale by sizing up to improve efficiencies while lowering emissions"."The investments are furthermore a testament to the long-term opportunities we are seeing in the dry cargo markets," the company added.Jan Rindbo, CEO of Norde

BIMCO’s Documentary Committee has approved a revised version of the Continent Grain Charter Party, SYNACOMEX, to reflect changes in the geopolitical landscape following events including the COVID-19 pandemic and the war in Ukraine. The revised charter party now includes BIMCO’s anti-corruption clause and updated versions of the war risks and sanctions clauses.The charter party is developed by joint copyright holders SYNACOMEX and Armateurs de France, the French Union for Grains and Seeds Trade and the French Shipowners’ Association.

Danish shipping company Norden and Canadian mining company Teck Resources announced an agreement to reduce CO² emissions in Teck’s steelmaking coal supply chain.The agreement is expected to reduce annual emissions from Teck shipments handled by Norden by 25%, or up to 6,700 tonnes of CO², equivalent to removing over 1,400 passenger vehicles from the road.Norden said it will achieve emission reductions by utilizing a range of solutions, including the use of fuel-efficient ships…

Russia's lack of ships and Western grain traders' shrinking appetite for business with Moscow are adding to rising costs of moving Russian wheat, at a time when the war in Ukraine has spilled perilously close to vital Black Sea supply routes.President Vladimir Putin promised to replace Ukrainian grain with Russian shipments to Africa after Moscow in July ended an arrangement that gave Ukraine's food cargo safe passage in the Black Sea, imposing a de-facto blockade on its neighbour and attacking storage facilities…

Danish shipping company Norden on Wednesday announced it has acquired a minority stake in Mash Makes, a Danish-Indian biofuel scale-up, which researches, develops and produces renewable fuels from biomass waste.Under the deal, Norden—which operates a fleet of tankers and bulk carriers—secures access to renewable fuels, specifically biooil, at favorable pricing, the company said, noting it will also benefit from future renewable biooils once developed.“We cannot rely solely on…

Insurers are reviewing whether to freeze cover for any ships willing to sail to Ukraine after Russia on Monday quit a U.N.-backed deal that allows the export of grain through a wartime Black Sea safe corridor, industry sources said.The agreement, brokered by Turkey last July, aimed to alleviate a global food crisis by allowing Ukrainian grain blocked by Russia's February 2022 invasion of its neighbour to be exported safely."Due to the collapse of the Black Sea corridor deal, most shipowners will now refrain from calling Ukrainian ports…

Nine companies across the maritime value chain have issued a joint statement expressing their commitment to developing and implementing robust book and claim chain of custody systems to accelerate the early phases of shipping’s decarbonisation. The signatories of the joint statement – Aspen Shipping Decarbonization Initiative, DHL Global Forwarding, Hapag Lloyd, Kuehne + Nagel, Norden, Oldendorff Carriers, ONE, Torvald Klaveness, and Yara Clean Ammonia –belong to the Getting to Zero coalition…

Ship operator United European Car Carriers (UECC) has bunkered sustainable biofuel for the first time in collaboration with GoodFuels and vessel owner NYK.GoodFuels delivered the B30 blend, 470 tonnes of VLSFO and sustainable biofuel, to time-chartered Emerald Leader in the port of Vlissingen in May. NYK, joint owner of UECC, is working closely with UECC to monitor the biofuel's performance.The use of sustainable biofuel on the Emerald Leader, which operates on UECC's North South Trade connecting the Eastern Mediterranean with Northern Europe…

Danish shipowner NORDEN has recently placed a newbuilding order for six dry cargo vessels from Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS), a joint venture between COSCO Shipping and Kawasaki Heavy Industries, for delivery in the next two to three years. All six orders are for Supramax vessels with a capacity of 64,000 deadweight tonnes.NORDEN's Head of Asset Management, Henrik Lykkegaard Madsen, said, “Placing this newbuilding order is an integrated part of our asset trading strategy…

Danish shipping company NORDEN announced Friday it has entered into an agreement to acquire the Thorco Projects business, providing access to new customers within the general cargo segment such as break bulk, steels and wind energy.Denmark-based Thorco Projects, part of Thornico Group, has in recent years transformed into an asset light business operating a chartered fleet of 30-40 vessels, including mostly Handysize vessels, where NORDEN is a significant operator. The acquisition…

The pace of shipments from Ukraine under a U.N.-backed initiative has slowed as concerns grow over ships getting stuck if a deal is not renewed later this month, according to sources and data. Russia, which is one of the key parties involved, said it will keep talking, although Moscow has threatened to quit on May 18, which has created more uncertainty for traders and shipping companies trying to plan ahead. Under the accord, Ukraine has been able to export some 29.5 million tonnes of agricultural products, including 14.9 million tonnes of corn and 8.1 million tonnes of wheat.

Danish bulk shipping company Norden has partnered with 123Carbon and its partners, AllChiefs and Verifavia, to commence offering carbon inset tokens through 123Carbon’s newly developed platform.With the platform, Norden will now be able to tokenise CO2-equivalent reductions made on biofuel voyages and allocate them to industry customers who are looking to reduce their maritime Scope 3 emissions.The platform supports auditing companies like Verifavia, a global verification auditing body specialised in transport…

Shipping group NORDEN has acquired larger capesize dry bulk ships, aiming to benefit from China's economy reopening and expectations of a pick up in commodities trade, the Danish company's CEO said. Three years of rigid border controls and sweeping lockdowns during the pandemic have sapped business confidence in China, especially among foreign firms, according to sentiment surveys. China has set itself a target for gross domestic product growth of around 5% this year, after significantly missing its target for 2022.

Biofuels provider GoodFuels announced the results of a new partnership with global certification organization Control Union and France’s IDS Group to test the effectiveness of a unique isotopic tracer for biofuels.A successful pilot, conducted during a recent delivery of 500 tonnes of biofuel to the Norden-owned tanker Nord Gardenia, has proven the effectiveness of the tracer technology in real-life applications.The partnership, which commenced in early 2022, has seen the companies collaborate to create the new tracer…

Danish shipowner NORDEN said its asset management division—which handles buying, selling and leasing of dry cargo and product tanker vessels—is capitalizing on rising asset values in the dry cargo market through vessel sales.Since the start of the year asset prices for vessels in the dry cargo market have increased by around 80%, which by the end of Q2 had resulted in a rise of more than $350 million in the market value of NORDEN’s portfolio of owned and leased vessels, the company…

Through a complex operation to offload bulk salt, NORDEN is optimizing the supply chain for customer Empremar.At a chemical plant in California, 30,000 tonnes of salt is being offloaded from a bulk carrier onto a private terminal. The salt will be taken directly to the plant and used to make chlorine.This shipment is one of eight per year that NORDEN will make for Chilean salt miner Empremar. While NORDEN has been shipping salt to the US for Empremar for 20 years, this is the…

BIMCO's longtime chief shipping analyst Peter Sand is departing the trade organization to take up the chief analyst role at ocean and air freight rate benchmarking, market analytics platform and container shipping index Xeneta, the Olso-based company announced on Wednesday.Sand joins Xeneta after over a decade at BIMCO, where he was responsible for analyzing commercial markets based on the global economic situation and its influence on trade. Prior to BIMCO, he worked with Danish shipping company D/S NORDEN as a senior analyst.

Stolt Tankers and Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping signed a partnership agreement making Stolt Tankers an official partner to the center.The tanker shipping company is among a wide range of industry partners who have teamed up to develop zero carbon solutions for the maritime industry. Other active companies include Alfa Laval, American Bureau of Shipping, A.P. Moller - Maersk, Cargill, Environmental Defense Fund, Haldor Topsoe, MAN Energy Solutions, Mitsubishi Heavy Industries…

Maritime Advisors, Liengaard & Roschmann have published for the third year running its Vesselindex Performance Report, ranking the listed dry bulk companies based on their TCE performance.In a year 2020 which was characterized by a high level of volatility it is noticeable that 17 companies managed to outperform the general market as defined by the Baltic Indices. U.S. listed Pangaea Logistics claims top spot for the third year in a row, competing against 24 other listed Dry Bulk…

Danish shipping company Norden said it has sold the 2011-built product tanker Nord Andes to an unnamed Asian buyer just 10 months after the vessel was acquired.The sale comes after the vessel was purchased by Norden in December 2019, and underlines Norden’s strategy to be an asset-trading company, Norden said.“We are driven by the opportunities we see in the market to continuously optimize our fleet,” said Jan Rindbo, CEO, Norden. “Having generated excellent revenues on the vessel during a strong market, we have now sold Nord Andes at roughly the same level as the purchase price, which is an agile asset trade within just 10 months.”The tanker market experienced a significant spike in earnings in the first half of 2020 due to increased demand for floating storage…

Ship management company V.Group has appointed Ulla Eithz Nielsen as Managing Director for V.Ships Germany.Based in Hamburg, Nielsen joined V.Group in 2019 and previously held the role of Chief Operating Officer of Operational Excellence.Nielsen began her maritime career as a deck officer with A.P Møller and has experience in operational transformation as well as dry bulk and container vessel expertise gained with A.P Møller, Maersk Line, NORDEN and Norient Product Pool.Franck Kayser…

Some of the world's biggest commodities and energy players on Wednesday launched an initiative to cut and track emissions from the ships they charter as efforts intensify to reduce the maritime industry's carbon footprint.About 90% of world trade is transported by sea, and the UN shipping agency the International Maritime Organization (IMO) aims to reduce overall greenhouse gas emissions by 50% from 2008 levels by 2050.Carbon emissions from shipping rose in the six-year period to 2018 and accounted for 2.89% of the world’s CO2, the latest IMO-commissioned study showed, mounting pressure on the

Synergy Group and D.S. Norden have formed a new 50/50 joint venture to handle the technical management of Norden’s owned tanker vessels. Norden Synergy Ship Management (NSSM) will be headed by Henrik Christensen who previously managed Norden’s Technical Department.“We see great alignment when we have partnered previously and we expect that to lead to more mutual wins in the future through NSSM,” said Captain Rajesh Unni, CEO & Founder of Synergy Group.The formation of NSSM further cements the partnership between Synergy Group…