Norden (One-pager): International dry cargo and product tanker company
Read our latest One-pager investment case on NORDEN, giving an updated insight into the shipping company’s YTD performance, market conditions and expectations looking into the end of the year and into 2024. The One-pager also updates the investment case, key investment reasons, key investment risks, and relative valuation against a peer group.
You can also catch up on the latest Q3 2023 earnings presentation hosted by NORDEN CFO Martin Badsted (in Danish), providing deeper insight into the company’s market positioning and outlook.
Link to presentation of Q3 2023 results: https://www.inderes.dk/videos/norden-praesentation-af-q3-2023
Disclaimer: HC Andersen Capital receives payment from NORDEN for a digitalIR/corporate visibility subscription agreement./Philip Coombes 15:50 07.12.2023.
D/S Norden
NORDEN is an internationally operating shipping company with 12 global offices, headquartered in Copenhagen, Denmark, and listed on Nasdaq OMX Copenhagen. The company is present in the dry cargo and product tanker markets with a combination of operator and asset trading activities. NORDEN’s trading-oriented business model is based on the two business units ‘Assets & Logistics’ and ‘Freight Services & Trading’ – dividing the business into asset trading and operator activities. The company’s business activities are based on an asset-light trading strategy, only owning a small percentage (~5%) of its total operated vessel fleet consisting of close to 500 vessels. The agility of the business model enables NORDEN to continuously adjust short-term market exposure towards dry cargo and product tanker market developments while capitalizing on asset trading opportunities. In-house data and advanced analytics, risk management, and market research provide a data-driven approach to shipping, making proactive use of volatile markets.
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