Norden is heading into the second half of 2026 with growing confidence.
The Danish shipping company has upgraded its profit forecast for the year, saying stronger dry bulk market conditions and an easing of disruptions in the Strait of Hormuz have put the business in a better position than expected.
The company now expects its full-year profit to reach between $120 million and $190 million, compared with its previous guidance of $70 million to $140 million.
Part of that improvement stems from a decision Norden made earlier this year to reposition its dry bulk fleet towards the Atlantic Basin.
The move came at a cost in the first quarter, as relocating vessels increased operating expenses. However, the strategy paid off when freight rates strengthened during the second quarter, allowing the company to benefit from a more favourable market.
Norden also received some positive news from the Middle East.
After months of uncertainty linked to the conflict around the Strait of Hormuz, all of the company’s chartered vessels that had been stranded in the Persian Gulf have now safely sailed through the waterway.
With those ships back in operation, Norden expects the disruption to have a smaller financial impact than it had originally anticipated, helping improve its outlook for the rest of the year.
At the same time, the company has continued to make the most of a strong second-hand vessel market.
Rather than holding on to every ship, Norden has been selling selected assets while prices remain attractive. So far, it has sold two MR tankers and one Capesize bulk carrier, while also selling purchase options for four Panamax and two Supramax vessels.
Those transactions are expected to contribute around $79 million to the company’s earnings in 2026.
Chief Executive Officer Jan Rindbo said the stronger outlook reflects several positive developments coming together at the same time.
The earlier fleet repositioning has delivered the results the company had hoped for, the easing of tensions around the Strait of Hormuz has reduced operational costs, and the company has continued to benefit from strong vessel prices by selling ships at favourable values.
Taken together, those factors have given Norden enough confidence to raise its earnings expectations for the year.
While shipping markets remain exposed to geopolitical uncertainty, the company believes the combination of stronger freight rates, improved trading conditions and timely asset sales has created a much stronger foundation for the remainder of 2026.
