Norden books massive 2015 deficit after new impairment and loss

China's economy has made the price of dry bulk vessels slide big-time. As such, Norden impairs its fleet, makes provisions for USD 340 million and reduced its full-year 2015 operating profit guidance by close to USD 290 million.
Photo: Norden
Photo: Norden

The crisis in dry bulk has in no way bypassed Danish carrier Norden. This was made abundantly clear when the company late on Wednesday in a corporate statement reduced its operating profit guidance for 2015 from a projected profit of USD 43-63 million to instead a deficit of USD 277-297 million.

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