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Norden offloads post-panamax quartet

Norden offloads post-panamax quartet
Denmark’s Norden continues its strategy to offload its larger bulker carriers by selling its last four owned post-panamax vessels.

The sale leaves the company with just four post-panamaxes, all chartered in, as it looks to focus solely on handies and panamaxes in the dry bulk sector.

The four vessels sold, Nord Delphinus, Nord Dorado, Nord Pisces and Nord Pyxis, will see Norden suffer an accounting loss of $16m. This is despite a January move by the company to write down the value of its dry bulk fleet by $180m.

Norden said that proceeds from the sale will be reinvested in Supramax and Panamax vessels.

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