ShippingWatch

Analyst: Cool Norden strategy pays off

The conservative but strong Norden covering gives the company a big advantage on its competitors. In spite of a weaker second quarter, the shipping company still has advantages in the macroeconomic uncertainty. That is why Carnegie expects to see stability when Norden presents its half year results on Wednesday

Norden will present its results on Wednesday 15 August and share analyst Stig Frederiksen from Carnegie Bank expects to see a bright spot in a dry bulk market marked by a negative development.

“The dry bulk market is heavily affected. It has most recently been seen in the declining export figures we see at the moment and the Chinese productivity development. With this in mind, the upcoming quarterly result from Norden is not expected to surprise as it was the case with its first quarter results. In spite of the declining freight rates, Norden will do better than its competitors”, Stig Frederiksen tells ShippingWatch.

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