Norden makes a profit of $33 million in the first quarter

Danish shipping company Norden has reported a net profit of $33 million (DKK 234 million) for the first quarter of 2025.

“Norden has generated a profit of $33 million in the first quarter of 2025, driven by good coverage in significantly weaker markets,” Jan Rindbo, CEO of the shipping company, commented on the result.

“To take advantage of the continued high asset values, we sold nine vessels this quarter, three of which were from declared call options. Due to the substantial gains on sales, we raised our full-year net profit guidance to $50-130 million on April 25.”

In addition to the ship sales (most recently five in March), Norden was also active in the MPP sector. In January, the shipping company took two 17,000-ton vessels on lease, with an option for two more.