Danish shipping company Norden raised its full-year 2026 net profit guidance on Tuesday, October 6, to $180 million–$230 million, from $140 million–$190 million, citing stronger operating performance and firmer market rates.
According to the company, successful regional positioning and strong performance in its dry cargo and tanker businesses contributed to the upgrade.
Norden kept expected gains from already signed asset-sale transactions unchanged at $79 million for the full year.
Chief executive Jan Rindbo said: “Our new guidance comes not only on the back of higher rates, especially in the tanker segment, but also from disciplined execution which we expect to impact our bottom line especially towards the end of the year.”
On April 28, Norden raised its forecast from $30 million–$100 million to $70 million–$140 million after reporting first-quarter net profit of $11 million
The company raised its forecast again on July 2, to $120 million–$190 million, citing stronger dry cargo performance, lower expected Persian Gulf delay costs and further vessel sales.
At that point, forecast gains on signed vessel-sale transactions had risen to $79 million from $64 million. Norden's nine vessel sales for the year consisted of three owned vessels and six tied to declared purchase options.
On August 13, Norden raised the lower end of its guidance to $140 million while retaining the $190 million upper limit. Second-quarter net profit reached $100.8 million, compared with $52 million a year earlier, reflecting a dry cargo turnaround and strong tanker spot rates, the company said.