How Norden miscalculated by USD 15 million

Norden made a miscalculation, resulting in a USD 15 million downgrade of the shipping company's full-year guidance. The mistake was largely caused by the new accounting standards and cover a "pretty complex area," CEO Jan Rindbo tells ShippingWatch. The downgrade has made Norden's stock plummet.

BY TRINE VESTERGAARD & SØREN PICO

A calculation error has made shipping company Norden downgrade its guidance for this year by USD 15 million to now somewhere in the range of USD 10 and 45 million.

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