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.
BY RITZAU FINANS
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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