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.

Photo: PR/Norden

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.

So far, the miscalculation has had a big impact on the company's share price, which has currently dropped by 9.2 percent since the announcement.

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