Policy Statements

Clear policies on safety and environment, risk management and investor relations issues are, along with a strong corporate culture, based on our vision and mission statements, an important part of NORDEN’s offers to customers, partners, shareholders as well as new and existing employees.

Below please find short introductions to some of NORDEN’s key policies:

• Safety and environment
• Investor relations communications
• Risk management
• Shareholders return

Safety and environment

Safety

It is the policy of NORDEN  that all employees in every function execute their work under safe and healthy conditions and with proper concern for protecting the environment.The top management expects every employee to comply with the strict standards and instructions issued by the Company.

The Company aims to eliminate possible dangers which may result in personal injury, professional illness, accidents, damage to property and damage to the environment. The recognition of possible dangers must become "a way of life". Our safety efforts are aimed at preventing errors, hazardous situations and incidents. Should these occur, every employee is required to participate in determining and eliminating possible causes, in order to prevent recurrence in the future.

To achieve our goals NORDEN gives priority to Quality, Environmental and Safety Management. It stresses that standards can only be met with the total commitment of every individual within the organisation. On a yearly basis, goals and objectives will be defined during the Management Review. The method for achieving these goals and objectives, as well as the system by which achievement will be monitored, is specified in an action plan. Continuous improvement is our aim. More

Environment

NORDEN operates one of the world’s most modern fleets of dry cargo vessels and tanker vessels. With this fleet, NORDEN is already off to a great start with respect to energy efficiency and low emissions, but NORDEN has also decided to invest in a number of activities with the purpose of lowering emissions from the Company’s owned fleet even more.

The programme consists of a series of initiatives to save energy and improve combustion efficiency in combination with new maintenance and monitoring procedures and funding of external research and development activities in both areas. Even though ocean-going transport is the most efficient means of transportation in environmental terms – with significantly lower CO₂ impact and lower scores in other emission areas per transported ton of cargo than transportation by train or lorry – NORDEN see it as its obligation to adopt initiatives to reduce CO₂ emissions and other eissions to the lowest possible level and thus contribute to a better environment. More

Investor relations communications

It is the aim of NORDEN that the price of shares reflects our actual and expected ability to generate shareholder value. This aim is strengthened through our continued delivery of timely, reliable, and relevant, easy accessible information and dialogue with our stakeholders about our strategy, results, and expectations. More

Risk management

Active risk management is a key element in the Company’s business model. The Company actively manages the primary commercial risks relating to the shipping market: fluctuations in freight rates and prices of vessels. In response to spot market rate fluctuations, the Company fixes a large part of the fleet on long-term charters. NORDEN keeps a close watch of the markets and continually adapts coverage to market conditions and expectations. Other risks not related to the shipping market – bunker prices, exchange rates, etc. – are hedged and minimised in so far as possible.More

Shareholders return

NORDEN’s business model aims to equalise the effect of the cyclical movements inherent in the shipping industry. Strong, long-term earnings are the prerequisite for NORDEN to generate an attractive return for its shareholders through share price increases and dividends.

Share price increases

The Board continually strives to ensure that the Company provides a basis for a reasonable, long-term return for the shareholders. This is to be achieved through the Company's strategy, including risk management. 

See historic share price

Dividends

NORDEN pays dividends in due consideration of the Company’s actual earnings, risk management, strategy and investment plans. See dividends 2003-2006