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Norden adds two newbuilds at NACKSNorden adds two newbuilds at NACKS

Danish shipowner Norden has added two more bulkers to an order at Nantong Cosco Khi Ship Engineering Co (NACKS), as well as acquiring another secondhand.

Marcus Hand, Editor

August 11, 2020

1 Min Read
NordNeptuneDryCargo2
Panamax dry cargo vessel NORD NEPTUNE. 75,726 dwt, built 2006.Photo: Norden/FotoFlite

Norden said it had added two newbuildings to an existing order for four bulkers at NACKS bringing the total to six. Additionally the company said it had acquired a 2014-built supramax bulker also built at NACKS and scheduled to join the company’s fleet in September.

“These deals represent great tactical asset opportunities for Norden, which we are here acting on,” said Norden ceo Jan Rindbo. “Tonnage prices are about 10-20% lower today than 2018/2019 levels, where Norden sold 10 vessels.”

The prices of the additional newbuildings and secondhand bulker were not revealed.

Of the previous four newbuilds ordered at NACKS two have already been sold on sale and leaseback terms.

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About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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