Copenhagen-listed Norden lowered its sights following a deeper than expected slump in dry cargo rates during the first quarter which has now rolled over into the second.
Shares in the Danish shipowner came down by close to 6% after the revision and a weaker than expected first three months of the year.
Carsten Mortensen, chief executive of Norden, said: “As expected, the first quarter saw challenging market conditions, not least in dry cargo where the Atlantic market more or less collapsed.
