Norden to save $10 million over four years

Danish ship owner, Norden has used $51.5 million to pay for $62 million worth of charter payments
Norden to save $10 million over four years

Norden has made a payment of $51.5 million to receive a cut rate on nine vessel charters.

The Danish ship owner announced that the move will save the company $10.5 million over the next four years. 

According to a statement, after conversing with a number of large Japanese owners, Norden decided to enter an agreement to reduce payments of future time charters.

The company says that the change in the time charter agreements will not affect operations in the period from 2015-2018.

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by Laura Stackhouse

readmt.com Editor

Laura Stackhouse is the Web Editor of readmt.com, an official publication of the International Marine Purchasing Association (IMPA). To discuss news, features or contributing to readmt.com please get in touch.

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