The product tanker market was thriving last year while the dry bulk market gradually lost momentum. However, the shipping company Norden is now shifting its focus towards the latter.
The calculation is that by the time 2025 comes around, the market will have stabilized again, and for that reason, Norden has invested in a series of new dry bulk vessels with delivery within that timeframe. In the second quarter alone, Norden has confirmed orders for six of its own newbuildings, in addition to a number of other leased newbuildings. Altogether, they make up an orderbook of 18 dry bulk vessels which are expected to join Norden's operated fleet in a couple of years.