ShippingWatch

Carsten Mortensen maintains eco-ship investments

Norden's results for the first quarter 2013 were less than satisfactory, says the shipping company's CEO, Carsten Mortensen, though he maintains the strategy of investing in new ships ahead of expectations for an improved dry bulk market in 2014-2015.

"Not satisfactory," says Norden CEO Carsten Mortensen about the shipping company's results for the first quarter, which showed a USD 11 million deficit after taxes.

But in spite of the results, which came in somewhat below what analysts expected, Carsten Mortensen maintains both his expectations for 2013 as a whole as well the ambitions to invest in new fuel efficient ships, because now is the right time. The shipping company has already acquired ships for USD 445 million since October last year, and expects to acquire more in 2013.

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