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Norden on dry bulk after yet another upgrade: "It's pretty intense"

Dry bulk rates continue to soar in a 2021 in which Norden has already upgraded its guidance four times. A historically low order book indicates that this trend will continue, the carrier's CFO tells ShippingWatch. Dry bulk shares have increased significantly across the board this year.

In the past week alone, rates have increased by USD 2,750 per day, according to Martin Badsted, CFO Norden. | Photo: PR / Norden

In the span of just a month, the dry bulk freight rates have made a big leap up once again, and this scenario on Tuesday makes dry bulk and tanker operator Norden upgrade its full-year guidance for the fourth time so far in 2021.

"We're seeing that the market continues to climb higher. The basis we use for pricing our capacity in the second half of the year has increased in value by more than USD 10,000 per day since the end of May. It's pretty intense," says Norden CFO Martin Badsted in an interview with ShippingWatch.

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