Norden, led by Jan Rindbo, has recently announced that it is shifting its investments from tankers to dry cargo due to changes in the transport markets. This decision has been made in response to increasing demand and the risks associated with tankers.
Analysis of the Tanker and Dry Cargo Market
While tanker revenues have remained strong, Norden believes that the tanker market is nearing its peak. Statistics indicate that new tanker construction activities are on the rise, leading to an increase in the global fleet and further segmentation.
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Jan Rindbo stated in an interview, "When I look at the market strength and order bookings, I conclude that the tanker market may be nearing its peak." This is while traditional supply and demand indicators only show part of the story, and geopolitical developments have a significant impact on tankers, making market trajectory predictions more challenging.
Norden's Strategic Changes
Norden is looking to reduce the risks associated with tankers and increase its focus on dry cargo. The company has registered 41 new tankers scheduled for delivery between 2026 and 2030. Rindbo emphasizes that customers are seeking to reduce dependence on suppliers and countries, leading to more complex supply chains that require more transportation.
Rindbo also stated, "The outlook for the global economy is generally positive, and we believe that dry cargo now offers a better risk-reward ratio compared to tankers." Norden is looking to leverage new technologies such as artificial intelligence to optimize transportation operations and business decision-making.
Ultimately, structural changes in global trade and supply chains significantly impact transportation demand. Rindbo says, "More complex supply chains require more ships to carry the same amount of cargo." These changes may not be temporary due to geopolitical conflicts, and it seems that the shift towards fragmented trade and supply chains will be more sustainable.
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