ShippingWatch

Norden pays the price of a "catastrophically bad tanker market" in 2021

The current tanker market is catastrophically poor with unprecedented low rates in the otherwise attractive winter months, Norden CEO Jan Rindbo tells ShippingWatch. That is why he projects that Norden's earnings will almost halve in 2021, compared to 2020's record result.

Photo: Lars Krabbe/ERH

The tough tanker market is currently cause for many a frown on Norden CEO Jan Rindbo's forehead and not least a more negative outlook on 2021, when comparing with the just-finished 2020, says Rindbo in an interview with ShippingWatch on the day Norden publishes its best result in a decade.

"It's not just a weak market, it's a catastrophically bad tanker market we're seeing right now," says Rindbo.

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