Norden close to achieving strategic product tanker target

With significant investments running into billions of Danish kroner, Norden is close to achieving its target of 25 owned product tankers following the latest annual report which showed a loss of 2.3 billion Danish kroner in the balance. Read our interview with Norden CEO Carsten Mortensen.

Norden is close to achieving the targets stated in its strategic plan for 2011 – 2013, Longterm Growth in Challenging Times. In particular, Norden is very close to realizing the construction of a modern fleet of fuel efficient and owned product tankers, a fleet which has grown from 11 to 22 ships since 2009. The ultimate goal is 25 owned ships in total.

“During the last five years, we have made significant investments of billions of kroner in product tanker. Now we are moving our investment focus to dry bulk again in expectation of better market conditions during 2014, but that does not mean we are quitting product tanker. We are always on a journey toward new opportunities, but following pretty significant investments in this segment, we would like to get it right, to see the product tanker segment yield some returns,” says Norden CEO Carsten Mortensen to ShippingWatch.

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