Danish shipping company NORDEN has sold five vessels since the release of its 2024 Annual Report on 6 February 2025, in line with its strategy to realize asset values, according to the company’s release.
Among the divested assets, three vessels were purchase options that included two Kamsarmax bulk carriers and one Ultramax vessel.
In addition, NORDEN sold one MR tanker from its actively owned fleet and one Ultramax newbuilding, which is scheduled for delivery at the end of 2025.
The newbuilding will be leased back on a time-charter with extension and purchase options.
Following these transactions, NORDEN’s fleet will consist of 20 owned vessels and 79 long-term leased vessels with purchase options, of which 39 options can be exercised before the end of 2025.
In parallel with the asset sales, NORDEN continues its share buyback program, acquiring 436,000 shares at an average price of DKK 190 per share between early February and 14 March 2025.
NORDEN is a Danish shipping company specializing in dry bulk and product tankers, operating a fleet of owned and leased vessels to optimize asset utilization.