Rindbo, who arrived as Carsten Mortensen’s long term replacement in April, used his first editorial in the company’s magazine to set out his position.
The magazine was released at the end of a good week for the shipowner, following a major increase in its profit forecasts just a few days ago.
“Our business model of operating ships in both the tanker and the dry cargo markets gives us opportunities even during a time of stagnancy in the dry cargo market,” the former Pacific Basin executive said.
“And we intend to seize every opportunity we can, whether by making attractive ship sales and purchases or utilising our flexibility and ability to effect swift commercial decisions in a fluctuating market.”
While the strong tanker market was a major reason for the company’s improved profit forecast, Rindbo does not believe it should radically change its existing fleet balance with products tanker expansion.
“That might make good sense in the short term, but not necessarily in a longer perspective. We must beware of chasing the good markets, because we should preferably invest in cheap tonnage before an upswing, rather than buy at high prices during the upturn,” he said.
“We must think counter-cyclically about long-term investments. Right now, shorter-term tanker exposure might offer good prospects, but in the long term dry cargo exposure at historically low prices might be an interesting option.”
Norden is looking to take $20m annually out of its operating expenses over the next three years and the new boss says the plan has some way to go to reach its target.
“It is important to maintain our momentum as regards this initiative, its being a key to ensuring that Norden retains its competitive edge,” he said.
Rindbo says he intends to "have many great years" with the company.
