ShippingWatch

Norden chairman: We made one big mistake

Departing chairman of the board at Norden, Mogens Hugo, balanced between creating a fortune and continuously ensuring good dividends for share holders. There was only one big mistake which is now impacting shareholders.

Photo: Polfoto

Considering that Norden's chairman of the board, Mogens Hugo (photo left), has secured shareholders dividends of almost USD 720.8 million over 20 years while at the same time making sure that the carrier's reserves were well-padded, there is probably no doubt that he will receive nice rounds of applause when he formally steps down on Thursday, May 23rd.

If anybody, he has personified Norden's strategy, which over two decades has on the one hand transformed a small regional carrier into a global player and increased the size of the fleet tenfold to about 250 ships, while on the other hand ensuring that there was money on the books.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs