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Major shareholder hit by Norden's downturn

Norwegian Rasmussengruppen, a major shareholder in D/S Norden, suffered a massive loss on its stake in 2014. The company's profits dropped a total of 90 percent, according to Rasmussengruppen's annual report.

Dag Rasmussen, CEO i Rasmussengruppen | Photo: Rasmussengruppen

Carrier Norden's downturn in 2014, following the collapsed dry bulk market, had a big negative impact on one of the largest shareholders, Norwegian Rasmussengruppen, which owns 11.5 percent of the shares in the carrier.

The Norden investment accounts for a majority of the USD 212.2 million reduction of Rasmussengruppen's earnings, which came to USD 29.4 million - corresponding to a 90 percent drop in the company's profits.

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