Interim report - first quarter of 2018 and video: NORDEN Update

02 May 2018

Some highlights:

First quarter of 2018

Adjusted result* for Q1 2018:

USD 9 million (Q1 2017: USD 1 million)
• Dry Operator: USD 3 million
• Dry Owner: USD 5 million
• Tankers: USD 0 million (USD 10 million)

EBIT Q1 2018:
USD 18 million (USD 0 million)

* ”Profit/loss for the period” adjusted for “Profit from sale of vessels etc.” 

Expectations for 2018

  • Expectations for the adjusted result for the year maintained at USD 10 to 50 million. Previous expectations

CEO Jan Rindbo in comment:

”The Dry Operator business unit continued to deliver a profitable performance in a first quarter market characterised by seasonal weakening. In addition to profit taking in regional markets, Dry Operator invested in positioning of vessels into the Atlantic, which we will benefit from in the second quarter. The Tanker business once again outperformed the market generating a break-even result, and NORDEN maintains the full-year expectations despite increased uncertainty for demand growth due to rising global trade tensions. With low fleet growth and agile business units, NORDEN is well positioned to make the most of the markets regardless of this.”

  pdf Announcement No 8




 First quarter of 2018
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 Watch video here

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