Norden gets four more Capesize newbuildings

Caption: © North

Following the takeover of MPP carrier Thorco Projects, bulk and breakbulk shipping company Norden is also driving forward its involvement in the Capesize segment with newbuildings.

Last spring, Norden announced its entry into the large bulker business. The demand is apparently high enough to expand its activities further [ds_preview].

Norden has now confirmed that four Capesize newbuildings will be purchased “to meet the strong demand from customers and to use the economies of scale to improve efficiency and reduce emissions”, according to a statement.

The shipping company currently operates five of its own and seven chartered capers. With the four newbuildings – which are reportedly not to be a resale – the company is “gradually” approaching its self-imposed goal of operating 20 to 25 Capesize ships. The newbuildings are to be delivered between 2025 and 2027.

Norden sees long-term opportunities in the bulker market

Ultimately, Norden wants to pursue a full-service approach and create solutions for “all dry cargo sizes”. “The investments are also proof of the long-term opportunities we see in the dry freight markets,” it continues.

According to the shipping company, capsizes not only offer cargo customers the opportunity to make their supply chains more efficient but also allow Norden to expand the scope of current and future logistics projects.

“With our recent investments not only in Capesizes but also in Projects & Parcelling and Logistics, we are now able to offer our customers a truly unique full-service approach for all dry cargo segments, with a strong focus on decarbonization,” said Jan Rindbo, CEO of Norden. This is also regarding the acquisition of MPP carrier Thorco Projects, which aims to benefit from the demand in the breakbulk and parcelling business.

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