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Dampskibsselskabet Norden A/S (DNORD.CO)

DNORD.CO on Copenhagen Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Dampskibsselskabet Norden Q4 EBITDA $2.9 million, below expectatins
Wednesday, 1 Mar 2017 02:21am EST 

Dampskibsselskabet Norden A/S : Q4 EBITDA $2.9 million (Reuters poll $5.62 million) .Expected adjusted results for 2017 for group: $-20 million to $+40 million based on an improving dry cargo market and a tanker market expected to be weaker than in 2016.  Full Article

Dampskibsselskabet Norden Q3 EBITDA down at $4.1 million
Wednesday, 9 Nov 2016 02:22am EST 

Dampskibsselskabet Norden A/S : Expectations for group's adjusted results for year are maintained at USD -60 to -20 million . Q3 revenue $314.1 million versus $400.1 million year ago .Q3 EBITDA $4.1 million versus $41.5 million year ago.  Full Article

D/S Norden Q2 EBIT loss $34.0 million, in line with expectations
Wednesday, 17 Aug 2016 02:22am EDT 

Dampskibsselskabet Norden A/S : Q2 revenue $311.8 million (Reuters poll $299 million) . Q2 EBITDA $12.2 million (Reuters poll $13.5 million) . Q2 EBIT loss $34.0 million (Reuters poll loss $34.4 million) . Q2 net loss $24.0 million (Reuters poll loss $37.7 million) . Expectations for the adjusted results for the year are narrowed within the guidance previously announced to loss of between $60 million and $20 million .Says tanker market is expected to offer weaker rates in second half-year compared to Q2.  Full Article

Dampskibsselskabet Norden sells 4 Handysize Dry Cargo vessels
Wednesday, 15 Jun 2016 10:04am EDT 

Dampskibsselskabet Norden A/S : Sells 4 Handysize Dry Cargo vessels as a part of strategic focus . Says is focusing its ownership in dry cargo segment on medium-sized vessel types Supramax and Panamax . Sale will entail an accounting loss of $18 million. .Says underlying operations are unaffected by sale.  Full Article

Dampskibsselskabet Norden sells 4 Post-Panamax vessels
Friday, 10 Jun 2016 10:34am EDT 

Dampskibsselskabet Norden A/S : Sells 4 Post-Panamax vessels . Proceeds from sale will be reinvested in Supramax and Panamax Vessels. . Norden does no longer own Post-Panamax vessels, but still operates 4 chartered vessels of this vessel type. . Sale will entail an accounting loss of $16 million. .Maintains its expectations for adjusted results for year 2016.  Full Article

Dampskibsselskabet NORDEN comments on FY 2016 guidance
Wednesday, 4 May 2016 02:27am EDT 

Dampskibsselskabet NORDEN A/S:Says expectations to the adjusted results for FY 2016 are maintained at $ -60 to $30 million.Expectations for FY 2016 capex are changed to $-30 million to $-50 million versus $-20 million to $-40 million previously.  Full Article

Dampskibsselskabet NORDEN issues FY 2016 guidance
Wednesday, 2 Mar 2016 02:17am EST 

Dampskibsselskabet NORDEN A/S:Board proposes no dividend to be paid out for FY 2015​.‍Outlook for FY 2016 adjusted results for year: loss $60 to profit $30 million.Sees FY 2016 EBIT of loss $45 to profit $45 million​.CAPEX is expected to amount to loss $20 to loss $40 million net, which essentially includes known investments in newbuildings of $61 million net‍​.FY 2016 EBIT 44.03 million crowns-Thomson Reuters I/B/E/S.  Full Article

Dampskibsselskabet NORDEN A/S sells Capesize vessel and buys Supramax vessel
Monday, 18 Jan 2016 03:00am EST 

Dampskibsselskabet NORDEN A/S:Sale of Nord-Energy will entail an accounting loss of $14.8 million, which will be included in annual results for 2015​.Expectations for EBIT result before profits from vessel sales for 2015 are maintained​.Expectations to 2015 EBIT results including profits from vessel sales are adjusted to $43-63 million compared to previous $58-78 million​.Does no longer own capesize vessels and currently only operates one chartered vessel of this type​.  Full Article

Dampskibsselskabet NORDEN sells Capesize vessel, adjusts FY 2015 outlook
Monday, 28 Dec 2015 07:00am EST 

Dampskibsselskabet NORDEN A/S:Agreed to sell the Capesize dry cargo vessel NORD POWER.The sale will entail an accounting loss of $12 million, which will be included in the annual results for FY 2015.The vessel will be delivered to the new owners at the beginning of 2016.Expects to reinvest the proceeds from the sale into additional tonnage of the vessel types Supramax or Panamax.Says the company's operating results are developing as expected and the expectations for the EBIT result before profits from vessel sales for FY 2015 are maintained.Says expectations for EBIT result including profits from vessel sales are solely adjusted as a result of the vessel sale to $58 – 78 million compared to the previous $70 – 90 million.  Full Article

Dampskibsselskabet NORDEN A/S Norient Product Pool increases fleet by eight vessels
Monday, 21 Sep 2015 07:14am EDT 

Dampskibsselskabet NORDEN A/S:Norient Product Pool has brought in eight tanker vessels owned by Diamond S Shipping Group, raising the combined fleet size to 87 vessels in a deal that underscored Copenhagen's place as a leading city for product tanker operations.Norient Product Pool is owned 50/50 by its founding partners, Cyprus based Interorient Navigations Company and Denmark's D/S Norden.Pools are widely used in the tanker business to reach scale that match demand from oil majors.The eight vessels from Diamond S Shipping are all so-called medium range vessels used for refined products like gasoline, diesel oil and jet fuel.The Norient Product Pool comprises 48 medium range vessels with a capacity of between 42,000 and 60,000 deadweight tonnage each and 39 handysize vessels with capacity of between 27,000 and 42,000 deadweight tonnage.Among other major product tanker operators in Copenhagen are Maersk Tankers, a unit in A.P. Moller-Maersk MAERSKb.CO, Torm TORM.CO and Hafnia Tankers.  Full Article

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