NORDEN Advances Asset Strategy with Sale of Two More Vessels and Ongoing Share Buy-Back

NORDEN Advances Asset Strategy with Sale of Two More Vessels and Ongoing Share Buy-Back

(IN BRIEF) NORDEN has sold two more vessels—an Ultramax and a Handysize—through exercised purchase options, marking a continued effort to realise asset value. This brings its total vessel sales in 2025 to ten, including seven from its active fleet and three newbuildings, which were sold prior to delivery but will remain under operation through time-charter leasebacks with purchase options. NORDEN’s fleet now includes 20 owned ships and 79 long-term leases, 37 of which can be purchased by the end of 2025. Additionally, the company has bought back 690,180 shares since February at an average price of DKK 185 as part of its share repurchase programme.

(PRESS RELEASE) HELLERUP, 14-Apr-2025 — /EuropaWire/ — NORDEN has announced the sale of two more vessels—one Ultramax and one Handysize—as part of its ongoing efforts to unlock asset value in alignment with its strategic priorities. Both ships were sold through the exercise of purchase options.

These transactions bring the year-to-date total to ten vessels divested: seven from NORDEN’s active fleet and three newbuilds sold prior to delivery. Notably, the newbuildings will remain part of NORDEN’s operational footprint via time-charter leasebacks, which include purchase options for future acquisition.

Following these asset sales, NORDEN’s portfolio now comprises 20 owned vessels and 79 long-term chartered ships with purchase options. Among the leased vessels, 37 purchase options are exercisable before the end of 2025, providing continued flexibility in fleet management.

In parallel, NORDEN’s share buy-back programme, initiated in early February 2025, has also made progress. As of April 8, a total of 690,180 shares have been repurchased at an average price of DKK 185 per share, demonstrating the company’s commitment to shareholder value.

Media Contacts:

Therese Möllevinge
Head of Investor Relations
thm@norden.com
+45 4137 1638

Anne-Louise Dam-Rasmussen
Head of Communications
ald@norden.com
+45 2156 1564

SOURCE: NORDEN