The Danish shipping company Norden has had a strong operational year so far, in both its dry cargo and tanker businesses. The management has therefore raised its profit forecast significantly.
Instead of the previously forecast net profit of $140 to 190 million, Norden now expects an annual profit of $180 to 230 million. The shipping company announced that the sales revenue expected for the full year 2026 from transactions already signed remains unchanged at $79 million.
The strong operating performance to date in the dry bulk and tanker sectors is underpinned by a combination of sound operational execution, successful regional positioning and firmer market prices, it said. The company expects earnings for the remainder of the year to be concentrated towards the end of the year, with a large proportion of the forecast higher profits likely to be realised only later in the year.
“Given the strong performance across all business segments, we are pleased to raise our profit forecast for the year,” said CEO Jan Rindbo. “Our new forecast is based not only on higher rates – particularly in the tanker segment – but also on disciplined operational execution, which we expect will have a positive impact on earnings, particularly towards the end of the year.”
Norden had already raised its forecast for the 2026 financial year back in July; initially, the company had expected a net profit of between $70 million and $140 million. The second quarter had been particularly successful, generating more than $100 million in profit for Norden.
