Danish shipping company Norden upgraded its full-year net profit guidance for 2026 to between $120 million and $190 million, following strong dry cargo performance, reduced Persian Gulf delay costs, and additional vessel sales.
The shipping company previously forecast a full-year net profit of $70 million to $140 million.
To position its fleet for higher rates, the company repositioned vessels to the Atlantic basin during the first quarter, an investment that yielded results in the second quarter as Atlantic rates strengthened.
Additionally, chartered vessels previously delayed by disruptions around the Strait of Hormuz have safely transited the Persian Gulf, lowering anticipated cost impacts compared to earlier provisions.
Taking advantage of firm asset values, Norden has sold nine vessels so far this year, comprising three owned vessels and six recently declared purchase options. The owned divestments included two MR tankers and one Capesize vessel, while the declared options consisted of four Panamax vessels and two supramax vessels.
Gains from these already signed transactions are now expected by the company to reach $79 million for the full year, up from the previous estimate of $64 million.
