Norden’s asset-light business booked another loss during the fourth quarter, making a full year of red ink and prompting the owner-operator to take a lower-risk approach in 2025.
Bulker and tanker markets in the fourth quarter were weaker than Norden expected, leading the owner-operator to book a lower result for the period.
Net profit for the fourth quarter was $30m, down from $43m a year earlier.
