NORDEN Strengthens Specialised Shipping Strategy with Ice-Class Vessel Order and Decade-Long LKAB Contract

NORDEN Strengthens Specialised Shipping Strategy with Ice-Class Vessel Order and Decade-Long LKAB Contract

(IN BRIEF) NORDEN has signed a long-term Contract of Affreightment of up to 10 years with LKAB and ordered two 23,000 dwt ice-class multipurpose vessels from Wuchang Shipbuilding Industry Group, enabling the company to transport bentonite from Greece to northern Sweden while expanding into ice-class shipping and strengthening its position in long-term, customer-linked business; the new vessels, expected in 2028 and built to Finnish-Swedish Ice Class 1A standards, will enhance NORDEN’s ability to operate in ice-prone regions, support flexible cargo operations, and utilise biofuel for lower emissions, reinforcing its strategy to deliver resilient, sustainable logistics solutions to industrial customers.

(PRESS RELEASE) HELLERUP, 27-Mar-2026 — /EuropaWire/ — NORDEN has entered into a long-term Contract of Affreightment (COA) with LKAB while simultaneously placing an order for two new ice-class multipurpose vessels, marking a strategic move to expand its presence in specialised shipping segments and strengthen its long-term customer-focused operations.

The agreement, which may extend for up to 10 years, covers the transportation of bentonite from Greece to northern Sweden. To fulfil the requirements of the contract, NORDEN has commissioned two 23,000 deadweight tonne vessels from Wuchang Shipbuilding Industry Group, part of China State Shipbuilding Corporation. Delivery of the vessels is expected in 2028.

This development reflects NORDEN’s continued focus on building stable, long-term business relationships while enhancing its capabilities in challenging operating environments. By entering the ice-class segment, the company strengthens its ability to provide reliable logistics solutions in regions affected by seasonal ice conditions.

Jan Rindbo emphasised that the agreement aligns with the company’s strategy to expand long-term contractual business that delivers more predictable earnings. He noted that the addition of ice-class vessels broadens NORDEN’s service offering, particularly for customers operating in northern and ice-prone waters.

The newly ordered vessels will integrate into NORDEN’s existing fleet, enhancing its ability to serve clients requiring dependable transport to ports impacted by ice. Each vessel will feature a cargo capacity of 23,000 deadweight tonnes and be equipped with two 80-tonne cranes, enabling flexible handling of various cargo types.

Built to Finnish-Swedish Ice Class 1A standards, the vessels are designed to operate efficiently under harsh conditions while maintaining fuel efficiency. They will also be capable of running on biofuel, supporting lower-emission operations and reinforcing NORDEN’s commitment to sustainable shipping practices.

Beyond supporting the LKAB contract, the vessels position NORDEN to expand its reach among industrial customers with transport needs in northern regions. The addition of modern, ice-class tonnage enhances the company’s ability to deliver tailored logistics solutions across a broader range of specialised cargo operations.

LKAB, a major international mining and minerals group and Europe’s largest producer of iron ore, continues to advance its focus on sustainable materials for the steel industry. Meanwhile, Wuchang Shipbuilding Industry Group brings extensive expertise in constructing specialised commercial vessels for both domestic and international markets, supporting the successful delivery of the newbuilds.

Media Contact:

Head of Communications
Camilla Baroudy
cal@norden.com

SOURCE: NORDEN