NORDEN raises full-year guidance following strong Q3 profit

Danish shipping company NORDEN reported a third-quarter net profit of USD 54 million for 2026, more than doubling the USD 26 million recorded during the same period in 2025. The growth was driven by strong market conditions across the company's Dry Cargo and Tankers segments.

Supported by an operating cash flow of USD 150 million, NORDEN has raised its full-year net profit guidance to a range of USD 200 million to USD 250 million, up from the previous forecast of USD 180 million to USD 230 million. This updated outlook includes USD 79 million in gains from vessel sales.

CEO Jan Rindbo attributed the performance to the flexibility of the company's business model and improved visibility for the remainder of the year. To manage market volatility, NORDEN has secured long-term charter contracts for MR tankers and Capesize vessels while expanding its Handysize and multipurpose fleet. The company also announced a USD 24 million shareholder distribution, consisting of a DKK 2 per share interim dividend and a new USD 15 million share buyback programme.