NORDEN has raised its full-year 2026 net profit guidance after stronger-than-expected dry cargo performance, lower costs linked to disruptions in the Persian Gulf and additional vessel sales.
The company now expects a net profit of US$120-190 million, up from its previous guidance of US$70-140 million.
NORDEN said its dry cargo business benefited from a fleet repositioning strategy implemented during the first quarter. The company moved vessels to the Atlantic basin in anticipation of stronger freight rates. That decision delivered higher returns as Atlantic market conditions improved in the second quarter.
The company also reported lower costs related to the disruption around the Strait of Hormuz.
All chartered vessels previously delayed in the Persian Gulf have now safely transited the strait. As a result, NORDEN expects a smaller financial impact than previously estimated.
The company also continued to benefit from strong vessel values.
Since the beginning of the year, NORDEN has sold nine vessels. These include three owned vessels and six vessels acquired through declared purchase options.
The owned fleet sales include two MR tankers and one Capesize bulker. The remaining transactions cover four Panamax and two Supramax vessels.
Following the additional sales, NORDEN now expects US$79 million in gains from completed transactions during 2026, compared with its previous estimate of US$64 million.
Jan Rindbo, Chief Executive Officer of NORDEN, said the company delivered stronger operational performance after repositioning its fleet. He added that lower disruption costs in the Persian Gulf and continued vessel sales have improved the company’s outlook for the year.
