Danske Bank increases Norden expectations

The high dry bulk rates in the 3rd quarter continued into the 4th quarter 2013, and this is one reason why Danske Bank anticipates that D/S Norden will deliver an operating result (EBITDA) of USD 48 million on Tuesday.

Ahead of Tuesday's publication of D/S Norden's annual report 2013, Danske Bank is increasing its expectations for the carrier's operating result (EBITDA) by USD 8 million, up to USD 48 million, not including one-off gains from divested assets. Reasons include the improved dry bulk markets, says the bank.

Among other factors, the high rate level in he 3rd quarter, for especially Capesize, continued into the 4th quarter.

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