Dry bulk asset values plunged in late 2015
Norden's USD 180 million impairment comes in the wake of what looks like a collapse of no less than 25 percent in dry bulk asset values in the fourth quarter 2015 alone. Values could slide even further, market sources tell ShippingWatch.
BY KATRINE GRØNVALD RAUN
Asset values in the dry bulk market are under enormous pressure and, according to sources in the market, plummeted no less than 25 percent in the fourth quarter 2015. On Wednesday this development forced carrier Norden to become one of the first major dry bulk players to announce a USD 180 million impairment on the company's fleet of bulk vessels.
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