Danish owner-operator Norden is expanding its freight derivatives desk and team with a new hire and is rolling out algorithmic trading.
Per Heilmann has joined the Copenhagen-listed company as head of forward freight agreement (FFA) and algorithmic trading and will be tasked with leading the expansion.
Norden, which has a fleet of bulkers and product tankers, has been testing out algorithmic (algo) trading models, generating what it described as “profitable returns”.
