ShippingWatch

DNB expects new deficit for Norden in 2015

The world's biggest shipping bank, DNB, offers a fresh round of beatings for carrier Norden in a new analysis. The carrier's market value has been cut in half in one year and the bank expects another deficit in 2015.

Once upon a time not so long ago, dry bulk carrier Norden represented one of the most stable enterprises in the maritime sphere. Predictable, conservative and safe. The carrier's General Assemblies were perhaps not the most exciting events, as it was mostly a case of "same procedure as every year."

And this was in fact the scenario for many years, up until exactly one year ago, when the carrier's share traded at a price twice as high as today, which means that Norden was worth twice as much back then.

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