NORDEN Orders Six Supramax Bulkers
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, âPlacing this newbuilding order is an integrated part of our asset trading strategyâŚ
NORDEN Cashes in on Rising Dry Cargo Asset Values
Danish shipowner NORDEN said its asset management divisionâwhich handles buying, selling and leasing of dry cargo and product tanker vesselsâis 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 NORDENâs portfolio of owned and leased vessels, the companyâŚ
Norden Sells Product Tanker Nord Andes
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 Nordenâs strategy to be an asset-trading company, Norden said.âWe are driven by the opportunities we see in the market to continuously optimize our fleet,â said Jan Rindbo, CEO, Norden. âHaving 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.âThe tanker market experienced a significant spike in earnings in the first half of 2020 due to increased demand for floating storageâŚ
Norden Orders Four Ultramax Bulkers
Danish shipping company Norden announced Monday it has ordered four 61,000 dwt Ultramax bulk carriers from Nantong Cosco Khi Ship Engineering Co. (NACKS), for scheduled delivery in 2022.Norden CEO Jan Rindbo noted that the newbuilding contract is in line with the companyâs strategy of agile asset trading and active management of Nordenâs cyclical market exposure.âHaving sold 10 dry cargo vessels since 2018, we believe asset prices have now declined sufficiently to present a good trading opportunity to buyâŚ
The Path to Zero: Creating a Pathway to Carbon-Negative Shipping
Greenhouse gas emissions capture and storage may be a more practical alternative to emissions reduction for meeting the IMOâs 2050 CO2 target. Tom Mulligan reports.Shipping emits close to 1 billion tons of CO2 each year and the shipping industry needs carbon-free solutions to achieve the IMOâs 2050 target of a 50 percent reduction, compared to the 2008 level, in these massive emissions. However, according to Denmarkâs Maritime Development Center, while better technical and operational solutions must continue to be pursuedâŚ
DecarbonICE Project for Green Shipping
A group of world leading shipping companies including NYK, Sovcomflot, Knutsen OAS and Ardmore, ship builders, including DSME and the mining company Vale, have therefore teamed up with Denmark based Maritime Development Center to develop such an on-board carbon capture and storage solution in a project named decarbonICE.DecarbonICE is based on two new main ideas for the capture and storage part, respectively. The CO2 and other GHG's in the ship exhaust are captured on board in a cryogenic process and turned into dry ice.Proven offshore technology is then applied during normal ship operations to transport the dry ice into the seafloor sediments.
Certifying Spaceship Earth
Former DNV GL President and CEO, Henrik O. Madsen has presented UN Secretary-General António Guterres with a testimonial attesting to DNV GL's assessment of the UN Sustainable Development Goals (SDGs) at the UN Headquarters in New York this week. The presentation took place during a Board meeting of UN Global Compact, the world's largest corporate sustainability initiative, with over 9000 member companies. The Future of Spaceship Earth report is DNV GL's long term forecast of the state of our planet in 2050. Last September, DNV GL used the forecast to assess the likelihood of humanity achieving the 17 SDGs by 2030. The report identified and prioritized areas for actionâŚ
Carbon War Room Launches Shipping Efficiency Advisory Board
Six leaders and influencers from across the shipping industry will join global NGO Carbon War Roomâs (CWRâs) Shipping Operation Advisory Board. Their backgrounds span the shipowning, chartering, technical analysis, finance, and academic worlds. The board will lend extensive industry insight and support CWRâs mission to profitably decarbonise the international shipping industry. Galen Hon, Manager, Shipping Operation, Carbon War Room, commented: "Following UNFCCC in Paris, the industry has an obligation to find new and innovative ways to reduce carbon while remaining competitive. With expertise spanning finance, ship operation, classification, data analysis, technology, and software, these individuals are perfectly positioned to identify and evaluate opportunities for innovation and growth.
CWR Launches Shipping Efficiency Advisory Board
Six leaders and influencers from across the shipping industry will join global NGO Carbon War Roomâs (CWRâs) Shipping Operation Advisory Board. Their backgrounds span the shipowning, chartering, technical analysis, finance, and academic worlds. The board will lend extensive industry insight and support CWRâs mission to profitably decarbonise the international shipping industry. Galen Hon, Manager, Shipping Operation, Carbon War Room, commented: "We are thrilled to have gathered a group with so much knowledge and experience in shipping. Following UNFCCC in Paris, the industry has an obligation to find new and innovative ways to reduce carbon while remaining competitive.
Norden Shuffles Executive Management Team
Danish dry cargo and tanker shipping company Dampskibsselskabet Norden A/S informs it has combined a number of management functions in order to reduce its executive management team from five to three members. âWith the changes we are consolidating a number of functions creating a more streamlined organization,â Norden CEO Jan Rindbo stated in a press release. Effective immediately, Nordenâs new plan sees the executive management team trimmed down to CEO Jan Rindbo, CFO Martin Badsted and executive vice president Ejner Kiel Bonderup.
DNV GL: âBig Dataâ Evolving Fast; LNG Slower than Expected
In connection with the Nor-Shipping Conference and Exhibition held last month in Oslo, Remi Eriksen, the newly appointed Group President & CEO of DNV GL, took the opportunity to present himself to the international maritime media. Eriksen will take over on August 1, 2015, from retiring Henrik O. Madsen. Eriksen has a solid 22 years track-record in leading positions within the group, gaining extensive international experience in the oil & gas, maritime, and renewable energy industries, and has led the operations in Asia, Europe and the Americas, based in Oslo, Houston and Singapore.
UN Transforms Business' Commitment to Sustainability
Sustainability is now firmly on the global business agenda, but there is an urgent need to turn words into action. This is a key conclusion in the independent report; âImpact â Transforming Business, Changing the Worldâ prepared by DNV GL on behalf of the United Nations Global Compact. The report concludes that the UN Global Compact, as the worldâs largest corporate sustainability initiative, and the business community have had an impact on the development of sustainability over the past 15 years. Recommendations that must be implemented to accelerate progress towards a more sustainable future are also highlighted in the report. âOur assessment shows there has been a clear shift in sustainability developmentâŚ
DNV GL Rejigs Top Deck
DNV GL Group has appointed Tor Svensen as Group Executive Vice President. Knut Ørbeck-Nilssen will succeed Tor Svensen as Chief Executive Officer of its Maritime business area. Both will report to the incoming Group President & CEO Remi Eriksen, starting August 1, 2015. Ørbeck-Nilssen has served as COO and Senior Vice President of DNV GLâs Maritime business area since 2013. He will now take on the new role as CEO and continue to operate out of the maritime headquarter in Hamburg, Germany. Tor E. Svensen has been the CEO and President of DNV GL - Maritime since 2003. In his new role as Group EVP he will support the Group President & CEO Remi Eriksen with particular focus on developing customer relationships and strategic projects for the DNV GL Group.
DNV GL Names Remi Eriksen Group CEO
Remi Eriksen has been appointed as the DNV GL Groupâs new president and CEO, succeeding Henrik O. Madsen, who will retire August 1. The DNV GL board of directors began an executive search and selection process in October 2014 to find and appoint Madsenâs successor due to his planned retirement after more than 30 years of service with DNV GL, the last nine years of which was spent as group president and CEO. DNV GL said candidates from many countries, both inside and outside of the organization, and both men and women, were considered.
DNV GL Revenue Up 10% Post Merger
2014 was the first full financial year of the DNV GL Group AS (DNV GL) following the merger between DNV and GL. âWhile both managing the ambitious merger and maintaining a full focus on providing premium service to our customers, we also increased our revenues by 10%, achieving an operating revenue of NOK 21,623 million,â says Henrik O. Madsen, DNV GL Group President & CEO. The ambitious integration of two global companies, DNV and GL, was a complex achievement, successfully carried out by the 16,000 employees. DNV GL has during this merger manifested its leading positions in the global Maritime, Oil & Gas, Energy, Business Assurance and Software Industries.
Naming of UASC's 'Barzan' at HSHI, S. Korea
Barzan, the first in a series of six 18,800 TEU container vessels ordered by UASC, was recently named at Hyundai Samho Heavy Industries (HSHI) in Mokpo, South Korea. The vessel is the first to receive classification society DNV GLâs new GAS READY notation. Her five sister ships, as well as eleven 15,000 TEU vessels of UASCâs newest eco-ship generation, will be given the GAS READY notation as well. âWe are proud to help realise the worldâs greenest ultra-large container vessel in close cooperation with UASC,â said Henrik O. Madsen, Group President and CEO of DNV GL. âDue to the trust placed in our expertise on alternative fuels, we implemented the âLNG readyâ concept with UASC as an industry firstâŚ
DNV GL's CEO Madsen Appointed UN Global Compact Board Member
United Nations Secretary-General Ban Ki-moon has appointed Dr Henrik O. Madsen, Group President & Chief Executive Officer of DNV GL, as a new board member to the UN Global Compact board, the worldâs largest voluntary corporate sustainability initiative. As a Board member, Dr Madsen will join other leaders from business, labour and civil society, and serve as a champion of the UN Global Compact and its mission. He will act in a personal and honorary capacity for a period of three years, starting from 1 June 2015. More than 8,500 companies in over 160 countries participate in the UN Global Compact, along with additional stakeholders. Participating firms align their operations with universally agreed principles of human rightsâŚ
Madsen to Chair Norwayâs Research Council Executive Board
Henrik O. DNV GL president and CEO Henrik O. Madsen was appointed as chairman of the executive board of the Research Council of Norway. The executive board is the Research Councilâs highest authority, and the newly appointed board will commence Jan 1. 2015. The main functions of the Research Council of Norway is to provide strategic policy input, administer research funding and serve as a meeting place for the development of research policy and dissemination of knowledge in Norway.
DNV GL Celebrates Twin Milestones
Some 650 dignitaries, customers and industry stakeholders joined DNV GL, ship classification society and risk and sustainability service provider, for a night in Hamburg. Held at the Fischauktionshalle Halle, the event celebrated the 150th anniversary of the foundation of Det Norske Veritas and the first year of operation of the newly formed DNV GL Group. The evening looked to both the past and the future of the company, celebrating both DNV GLâs long history and its continued drive to make a positive impact on the world through innovation. DNV GL Group CEO Henrik O.
DNV GL Celebrate Twin Anniversaries in Hamburg, Germany
Held at the historic Fischauktionshalle Halle, in Hamburg, Germany, DNV GL says that the event celebrated the 150th anniversary of the foundation of Det Norske Veritas (DNV) and the first year of operation of the newly formed DNV GL Group. The evening looked to both the past and the future of the company, celebrating both DNV GLâs long history and its continued drive to make a positive impact on the world through innovation. DNV GL Group CEO Henrik O. Madsen, reflected on this when focussing on the organisationâs ambitious new report, âA Safe and Sustainable Futureâ. âOur ambition has been to explore where we can leverage our history and expertise to translate our vision into impact. Through these projects we take a Broader View on society.
New Study Maps Top 100 Sustainable Solutions - DNV GL
DNV GL hosts Sustania100 launch event which reveals latest study on 100 leading sustainability innovations deployed in global markets. As a founding partner behind Sustainia100, DNV GL sees the study guide as an important tool for investors, decision makers and consumers as it provides insights to the most promising solutions at the forefront of sustainable transformation. Speaking at the Sustainia100 event at DNV GLâs headquarters in Høvik, Norway, Bjørn K. Haugland, DNV GL Group Sustainability Officer said, âCongratulations to the 100 selected solutions. They all demonstrate that sustainable alternatives are not only available, but also attractive, competitive and successful.
Norway's PM at DNV GL 'Double Milestone' Dinner
To mark the 150th anniversary of the Foundation Det Norske Veritas (DNV) and the one year anniversary of its merger with Germanischer Lloyd (GL), DNV GL says events attended by dignitaries, government officials and customers have been held in Oslo. Over 1000 guests gathered in Oslo to celebrate DNVâs 150th anniversary and DNV GLâs first year as a merged company. The event started at the Oslo Opera House, followed by an evening dinner at DNV GLâs headquarters in Høvik. The event was opened by Henrik O. Madsen, President & CEO of the DNV GL Group. âToday we celebrate, but it is also a moment to reflect and thank our partners and friends all over the world, who have been on the long journey together with us.
DNV GL Celebrating A Double Milestone
DNV GL, the worldâs leading ship classification society and one of the worldâs leading risk and sustainability service providers, is celebrating a double milestone: The Foundation DNVâs 150th anniversary and DNV GLâs first year as a merged company. To mark the 150th anniversary of Det Norske Veritas (DNV) and the one year anniversary of its merger with Germanischer Lloyd (GL), DNV GL is hosting a prestigious event in Oslo today. Over 1000 guests, made up of dignitaries, government officials and top industry figures and customers, will be present. âCreated from two highly respected companies with parallel histories spanning 150 years (GL was itself formed only three years later) we want to celebrate our legacy but at the same time we are using the occasion to look forward,â says Henrik O.