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Nordana booked USD 27 million deficit on project cargo

Johan Wedell-Wedellsborg's last year as shipowner in the specialized market for project cargoes came at a high price, according to the latest financial report from Nordana A/S.

Liner and project carrier Nordana A/S, part of Danish baron and shipowner Johan Wedell-Wedellsborg's Weco Group, lost USD 28 million in 2015, as evident from the carrier's recently published financial report.

"The year was characterized by a tough market for both the Project and RoRo market throughout the year. The liner activities experienced difficult challenges in particular with filling up three vessels both west bound and east bound. In addition, the continued political instability in a number of North African countries also influenced the results negatively," management writes in the report.

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