It is a case of back to reality for Denmark’s Norden, which on Thursday issued guidance that its projected performance for this year will be approximately half of what it achieved in 2023.
CEO Jan Rindbo told TradeWinds that the lower estimates for 2024 primarily stem from the increased challenge in generating margins from bulk carriers this year.
Norden said it expects a softer annual result of between $150m and $200m, down from $400m in 2023.
