Copenhagen-listed Norden says the charge relates to “onerous” dry charters signed between three and six years ago which will not prove profitable.
The details were released as part of a profit warning, in which the company revealed it is heading for a deeper loss in 2014 than it had feared.
On a day when the battered Baltic Dry Index ironically read 911, Norden explained the provision was made after management reassessed its view of the dry market.
“Management
