Norden suffered USD 11 million operating loss in 3rd quarter

As expected, Norden suffered a 3rd quarter deficit in the weak dry bulk market, though the market could bring attractive opportunities, says interim CEO Klaus Nyborg.

Photo: Bjørn Marcus Trappaud

Norden suffered an operating deficit of USD 11 million in the 3rd quarter, compared to a USD 19 million profit in the same period last year.

"In terms of results, the third quarter ended as expected at the beginning of the quarter. The challenging market conditions in dry cargo continued, and the tanker market experienced good activity with further improvement at the beginning of the fourth quarter. Norden outperformed the market in both segments and maintains its expectations for full-year results. The weak market development may provide attractive opportunities," says interim CEO Klaus Nyborg in the carrier's interim report, published Wednesday morning.

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