Norden stands to benefit from capesize rates

Norden has a series of large dry bulk carriers available in the 4th quarter 2013, at a time when the major mining companies are pumping significant volumes of iron ore into the market, and capesize rates in particular are booming.

The prospects of an additional 200 million tons of iron ore in the market within the next 6-9 months as announced by the major mining companies are good news to D/S Norden, which has a series of large dry bulk carriers opening up for new contracts in the 4th quarter 2013, according to Nicolai Bro Jöhncke, Head of Corporate Communications at Norden, in a comment relating to the positive trend that has recently characterized the major capesize ships of 170,000 - 180,000 dwt.

Norden has four owned capesize ships, and the carrier has an additional eight Post-Panamax ships, also known as babycapes, at 110,000 - 120,000 dwt, all of which are available in the 4th quarter.

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