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Photo: Norden

Norden CEO believes in bulk – but tanker will be a challenge

Bulk:

While Norden anticipates that a "gradual improvement" of the dry bulk market will continue in 2017, the average rate level in tanker will be lower than in 2016. Yet various initiatives create a basis for profit, CEO Jan Rindbo tells ShippingWatch.


BY SØREN PICO
Published 01.03.17 at 12:34

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Most read Bulk

Golden Ocean hit with USD 18 million deficit in Q1

Golden ocean 1.JPG Bulk:

John Fredriksen's dry bulk carrier exits the first quarter with a deficit despite major growth in revenue.

Scorpio Bulkers speaks openly of risk of shutdown

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Oldendorff Carriers remains in the black in 2014 and 2015

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ShippingWatch interviews chairman Henning Oldendorff on how one of the world´s largest drybulk operators avoids deficits operating in an industry where even solid competitors are struggling.

Analysts: Dry bulk shares will be winners in 2017

Bulk:

After a brutal start to 2016, it now seems that 2017 will be a much better year for dry bulk carriers such as Norden and Golden Ocean, which currently boast positive recommendations from Danske Bank as well as Clarksons Platou.

J. Lauritzen loses yet another dry cargo executive

Bulk:

Vice president of Lauritzen Bulkers, Martin Sato, has resigned from the dry bulk carrier. The news comes just a few days after the carrier's head of dry cargo stepped down. Sato will instead join dry bulk carrier Baltnav.

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Bulk:

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Current front page

New tanker behemoth is a guidepost in consolidation wave

Photo For Superintdt 083.jpg Tanker:

The idea that bigger companies enjoy increased interest from major investors will now be put to the test in the wake of the merger between Navig8 and Scorpio Tankers, says Mikael Skov, CEO of Hafnia Tankers, who has IPO plans of his own.

Hapag-Lloyd seals merger with UASC: "A milestone in history"

Container:

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Offshore:

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Seadrill could get fresh capital from new investor

Offshore:

The Fredriksen-controlled rig unit exits the first quarter with a slide in revenue and an operating result virtually slashed in half compared to the same period last year. A new investor could be about to enter the company.

Costs take a chunk out of Eimskip's profit

Carriers:

A fishermen's strike and a fine from Iceland's Financial Supervisory Authority were factors in a reduction of Eimskip's profit in this year's first quarter. Growing expenses in freight rates and fuel also had a negative impact.

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Tanker:

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