CEO's editorial - NORDEN NEWS Magazine Summer 2017

Ready for change

The world is changing and NORDEN is changing with it. In a time when the volume of accessible information doubles with rapidly increasing speed, adaptability is not just a buzzword but a requirement to be successful.

NORDEN operates in a changeable world with volatile and unpredictable markets, where our customers expect us to quickly be able to come up with deep market insight and sharp prices. It makes greater demands on our organisation and structure. Demands which we will now accommodate in our Dry Cargo business with a new and more dynamic set-up, which supports our strategic objective to markedly increase our dry cargo operator business over the coming years.

The organisation into new, smaller and more specialised teams, which you can read about from page 8, means that we have become more agile – that is that we are able to act faster, more
easily and with more flexibility. This important ability is strengthened as the responsibility in the department has been spread out further thereby giving the employees a larger degree of decision-making power.

This set-up boosts the dynamics and job satisfaction internally. But how our customers experience the change is even more important. We raise the bar higher, in this respect, as it is our ambition that our customers perceive the change as a clear  improvement of our service to them. We wish to serve them quickly, sincerely and more efficiently, and the new set-up will facilitate it and guarantee that it happens.

NORDEN’s Tanker business is also busy as you can read about on page 18. Since the beginning of 2017, we have taken advantage of the market to both purchase and charter in product tankers which are all to be delivered to NORDEN up until 2020. This is also a case of agile adaption to change. When the price of vessel capacity decreases, as we have experienced lately, NORDEN is ready to act. With good access to yards as well as shipowners and backed by solid finances, we have the opportunity to expand our capacity when prices are attractive.

The vessel purchases take part in expanding our tanker fleet which counted 36 vessels at the end of March 2017 – 25 MR vessels and 11 Handysize vessels. We expand the fleet for several
reasons: Firstly, the current weak market makes it possible to purchase and charter in vessels at low costs, and we thereby strengthen our competitiveness. Secondly, the expansion of
the tanker fleet increases the flexibility that we offer our customers through Norient Product Pool, which is responsible for the commercial operation of NORDEN’s tanker fleet. Again, it is a matter of being able to respond quickly and efficiently to changeable markets and demands.

NORDEN’s overall purpose is to contribute to more efficient world trade. We do that, among other things, by offering our many customers optimised solutions which create value. The better we are at accommodating our customers’ needs, the more value we are able to create for them and the better we are able to live up to the purpose of our efforts. That is why NORDEN is ready for change.

Enjoy the reading and have a great summer.

Jan Rindbo.

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