NORDEN delivered a net profit of USD 54 million (DKK ~350 million) in the third quarter of 2026, supported by strong markets and solid underlying operating performance across Dry cargo and Tankers
NORDEN CEO, Jan Rindbo, comments: “We delivered a strong third quarter, with good performance across Dry cargo and Tankers. We continue to leverage the flexibility of our business model to adapt our fleet and market exposure to changing customer needs and attractive opportunities across markets. With a solid performance year-to-date and increased visibility for the ...
In the third quarter of 2026, NORDEN reported a net profit of USD 54 million (DKK ~350 million), driven by strong market conditions and solid operating performance across Dry cargo and Tankers. CEO Jan Rindbo highlighted the company's flexibility in adapting its fleet and market exposure to meet evolving customer needs and capitalize on attractive opportunities.
NORDEN raised its full-year profit guidance to USD 200-250 million, citing strong Q3 performance and optimistic expectations for Q4. The company continued to optimize its fleet in line with market opportunities and its 2030 strategy, adding vessels to its Handysize and MPP segments while securing long-term charter contracts for MR tankers and Capesize vessels.
This strategic move helped secure future revenue and reduce exposure to shipping market volatility. Group net profit reached USD 54 million, up from USD 26 million in Q3 2025, with operating cash flow of USD 150 million. NORDEN distributed USD 24 million in interim dividends and initiated a USD 15 million share buy-back program.
The company's net asset value increased to DKK 523 per share, a 38% rise since the beginning of the year. Full-year net profit guidance now stands at USD 200-250 million, including gains from vessel sales of USD 79 million. However, heightened geopolitical uncertainty remains, and voyage timing may shift earnings into 2027.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.