Norden's crucial buffer against bulk is now weakened

In 2015 in particular, Norden's fleet of product tankers was a crucial buffer for the Danish carrier during the meltdown in the bulk industry. This year, the tanker market has been radically altered while the development in dry bulk only got worse, according to the first interim reports for Q2.

The most important defence at Norden against the worst consequences of the collapsed dry bulk market is the carrier's fleet of product tankers, and these have been significantly weakened during 2016, where especially the second quarter this year was surprisingly bad, based on the first half-year interim reports from several tanker carriers. Meanwhile, the development in the international dry bulk industry has only worsened in the first half of this year, in spite of a short-lived recovery and marginal gains in the trend-setting Baltic Dry Index.

Norden will publish its second quarter financial report on August 17th, and the prelude, in the shape of the first interim reports from several carriers in dry bulk and product tankers, indicates a particularly gloomy scenario for the Danish carrier, which operates one of the world's largest dry bulk fleets, supplemented by a fleet of 39 product tankers owned by Norden in the Norient Product Pool.

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