Ds Norden News

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…

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…

For the second year straight, US-based Pangaea Logistics ranks highest among dry bulk owners based on Time Charter Earnings (TCE), according to a recent market benchmarking report.Notably, the Rhode Island-headquartered shipowner's 53.7% TCE performance is well above Hong Kong's Pacific Basin Shipping Ltd. (24.3%) and Thailand's Thoresen Thai Agencies (23.5%) in second and third place respectively.The Vesselindex Performance Report by Danish maritime advisors Liengaard & Roschmann measures the TCE performance of 25 individual companies in relation to the earning potential of their respective fleets, making sure that no company is neither penalized nor getting an advantage from inferior/superior fleet compositions.

Denmark based NORDEN said it has purchased a seven-year-old Japanese-built MR product tanker, its second vessel acquisition within a month. The purchase follows the acquisition of a 2009-built MR product tanker to be named Nord Pearl. “With the purchase of the MR product tanker, NORDEN once again takes advantage of the current reduced tonnage prices to increase the capacity and position the tanker business towards possible market improvements after 2017,” said NORDEN CEO, Jan Rindbo.

ChartCo, a global supplier of maritime digital data and compliance services, has announced its acquisition of the Swedish environmental shipping technology expert business Marine Position. The transaction extends ChartCo's core product strategy of providing a centralized digital platform on board vessels which is linked to key shoreside activities. Marine Position AB is a global specialist provider of maritime environmental regulations and compliance covering international, national and local requirements.

Odfjell SE’s Extraordinary General Meeting, held December 9, 2015, supported the Nomination Committee's proposal and elected Klaus Nyborg as new director of the Board. Nyborg, a Danish citizen, owns no shares in Odfjell SE and has no formal ties to major shareholders of the company, according to Odfjell. Nyborg was recently Interim CEO of DS Norden AS from 2014-2015, where he has also been on the board since 2012, and chairman since 2015. He also serves board director of several other companies, including being chairman of A/S United Shipping & Trading Company and BAWAT A/S.

Dampskibsselskabet Norden, one of the world's oldest and largest ship owners, has joined OceanConnect as a new equity partner. Norden Senior Vice President Carsten Mortensen said that, "We established this partnership because OceanConnect has provided Norden with benefits far beyond traditional fuel brokering. The savings to date have been tremendous. In light of these results, we wanted to partner with the company that is changing the way bunkers are purchased." "We have been using OceanConnect for over a year, and we are saving money on fuel, our largest variable cost. We're acquiring equity because we know the value of OceanConnect's service," Norden Vice President Jacob Meldgaard said.

OceanConnect announced that it has attracted MarineProvider ASA as another new equity partner. The news comes shortly after announcements that Chemoil Corporation and DS Norden AS have acquired equity in OceanConnect, and OceanConnect's acquisition of the Clarksons Bunker Group. "Proven savings combined with personal service is OceanConnect's formula for success. Having seen what OceanConnect can do for ship owners, our board of directors felt that owning equity would strengthen MarineProvider's investment portfolio," MarineProvider CEO Collin Lewis said.

OceanConnect's board of directors and shareholders reflected on two years of strong growth at the company's annual meeting, held yesterday in Oslo. brokerage with live, online competition. The results speak for themselves: with growth of more than 40 percent per annum, the outlook is good for continued growth," OceanConnect President Thomas Reilly said. Reilly and OceanConnect shareholders discussed the company's progress over the past year. In 2002, Chemoil, DS Norden, MarineProvider, Lazard, and Booz Allen & Hamilton joined OceanConnect's diverse equity base. OceanConnect expanded into Korea with the recent addition of S.I. Shim, Asia's most respected broker. Bob Fitzgerald, the founder of Bunkerfuels, joined OceanConnect earlier in the year.