As part of the strategy Focus & Simplicity, which means that the company is focusing its ownership in the dry cargo segment on the medium-sized vessel types Supramax and Panamax, NORDEN has sold four Handysize dry cargo vessels.

The sale involves the vessels:

  • Nord Hong Kong (32,282dwt built in 2011)
  • Nord Houston (32,389dwt built in 2011) v Nord London (32,312dwt built in 2011)
  • Nord Vancouver (32,353dwt built in 2011)


Following the sale, NORDEN owns eight Handysize vessels. It is part of the strategy that NORDEN continues to operate a significant fleet within this vessel type, which in the long-term will only consist of chartered vessels.

The proceeds from the sale of the four Handysize vessels will be reinvested in Supramax and Panamax vessels.

The sale will entail an accounting loss of US$18 million.

In its announced expectations, NORDEN focuses on the underlying operations, which are unaffected by the sale, and

NORDEN therefore maintains its expectations for the adjusted results for the year 2016 at US$60 to US$30+ million.