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Norden made 2012 deficit of USD 279 million

Danish shipping company Norden exited 2012 with a total deficit of USD 279 million, according to the company's annual report.

Shipping company Norden made a deficit of USD 279 million in 2012, versus a 2011 profit of USD 88 million, according to the company's annual report for 2012.

As the result of impairments performed on the recorded value of ships for USD 300 million in the 1st quarter 2012 and another USD 89 millions in general impairments, as well as USD 24 million in losses from the sale of ships, the company's primary operational result (EBIT) was USD -265 million.

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