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Tanker sends Norden into the black in Q1

Carrier DS Norden finished the first quarter 2015 with a result after taxes of USD 38.6 million. Strong product tanker market compensates for struggling dry bulk.

The strong product tanker market is reflected in carrier DS Norden's first quarter interim report, which - especially boosted by the tanker fleet - posts a first quarter profit of USD 38.6 million - a result that significantly surpasses expectations as well as the result for the same period last year, where the carrier booked a deficit of USD 26.5 million.

"A strong tanker market and a high level of coverage in a very poor dry cargo market have provided Norden with a solid start to 2015. The upswing in tankers has been broadly based, and with a large and modern fleet of product tankers, Norden is well positioned to benefit from this," says CEO Jan Rindbo, who joined the carrier on April 30th, replacing Carsten Mortensen who stepped down last year.

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