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All-time low dry bulk market hits Norden with deficit

The all-time low dry bulk market sends Norden into the red with a combined deficit of USD 5 million in the first quarter compared to a profit in the same period last yea. The carrier projects a full-year result in the range of a USD 60 million loss to a USD 30 million profit.

The miserable dry bulk market continues to wreak havoc at Danish carrier Norden.

After an all-time low 2015, the current year began with further rate slides, and this is reflected in the carrier's first quarter interim report as the Norden's core business, dry bulk, suffered a double-digit deficit. However, the carrier can be pleased to note a fairly stable performance for its tanker business, according to the interim report, published Wednesday.

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