Norden has continued the shift of its market focus from wet to dry bulk by selling tankers and buying bulkers.
The Danish owner and operator said on Wednesday that it sold the 38,000-dwt Nord Butterfly (built 2008) and the 50,100-dwt Nord Pearl (built 2009).
No further details were provided.
However, TradeWinds previously reported that Ancora Investment Trust bought the Nord Butterfly for more than $9m and Marflet Marine bought the Nord Pearl one for $16m.
In addition, Norden said it bought a supramax bulker for delivery later in December and a kamsarmax to be delivered in April 2021.
“For the next 12 months, we see more favourable market conditions and potential upside in the dry cargo market, as the world economy gradually recovers following Covid-19”, Norden chief executive Jan Rindbo said in a statement.
“Our asset trading strategy means we continually look for opportunities in the market to optimise our fleet, and it provides us the flexibility to adjust our ongoing exposure towards either dry cargo or tankers, depending on the given market developments.”
TradeWinds has approached the company for more details on the vessel transactions.
Boosted by strong performance of its dry bulk operations, Nasdaq Copenhagen-listed Norden posted an adjusted net profit of $27m for the third quarter. This compared with a loss of $4m in the same period of last year.
The company has stated it plans to shift its exposure from tankers to bulkers, which would include asset transactions.
In July, the company was believed to have acquired the 61,600-dwt MI Harmony (built 2014) from Itochu for $15.8m.
Norden then ordered two 61,000-dwt bulkers from Nantong Cosco KHI Ship Engineering in August, and the ships are due for delivery in 2022.
In September, the company sold the 50,000-dwt product tanker Nord Andes (built 2011), which it had purchased just 10 months earlier for $21.5m.
TradeWinds also reported Norden sold the 48,000-dwt Nord Integrity (built 2010) to Marflet for $16.3m in October. The company has yet to confirm the sale.
