In line with our positive long-term outlook for Capesize freight rates, we are pleased to announce the addition of two Capesize newbuilding leases with purchase options, reinforcing our commitment to building a highly efficient and modern Capesize fleet. This will enhance our ability to serve customers reliably and ensure we remain at the forefront of sustainable and cost-effective shipping against a backdrop of an ageing fleet and historic low orderbook.

The vessels will be built in Japan with expected deliveries in 2026 and 2027.

This brings our core fleet of owned and leased Capesize vessels to 13 ships, including seven newbuildings, with an average age of 2 years. In addition, NORDEN currently operates a shorter-term chartered fleet of 10 Capesize vessels on the water, servicing major customers in the mining sector.

The Capesize segment is thus an important part of NORDEN’s ocean-based global freight service for dry and liquid bulk cargo of all sizes, spanning around 450 vessels in total.