Norden, which today issued a disappointing first quarter performance in a bad market, has launched a $10m share buy-back plan which will run over the next three months.
Carsten Mortensen, chief executive of Norden, tells TradeWinds the company is pressing on with the plan in order to invest in its own ships.
He points out that with dividends of $20m and $38m coupled with an earlier $30m buy-back Norden has returned $100m to shareholders in the past couple of years.
