Danish Norden Raises 2026 Profit Guidance to $120-190 Million

en.Wedoany.com Reported - Danish shipowner Norden, driven by a stronger dry bulk market, has raised its 2026 profit guidance to between $120 million and $190 million, compared with the previous range of $70 million to $140 million for that year.

The company stated that while redeploying its dry bulk fleet to the Atlantic Basin in the first quarter incurred higher costs, this measure has already yielded expected returns through higher freight rates in the second quarter.

"Furthermore, after months of disruptions around the Strait of Hormuz, all chartered vessels that were stranded in the Persian Gulf have now safely transited the strait. Compared with the provisions already included in the previous full-year estimate, this positive development has reduced the expected cost impact," the company said.

Norden has also taken advantage of current high market prices to sell vessels, expecting to realize $79 million in gains from these transactions in 2026. The company has sold two MR tankers and one Capesize bulk carrier from its owned fleet, and holds purchase options for four Panamax vessels and two Supramax vessels.

Norden CEO Jan Rindbo said he is pleased to see enhanced operational performance, benefiting from the gains of early fleet redeployment and the reduced cost impact from the Persian Gulf disruptions, while continuing to realize high asset values through announced purchase options and vessel sales.