NORDEN sells newbuilding   -   07 Mar 2008

Dampskibsselskabet "NORDEN" A/S has agreed to sell 1 Supramax newbuilding with a profit of USD 7.7 million, which will be recognised on delivery from the yard in the second half of 2010. The vessel is a Supramax bulkcarrier of 56,000 dwt and is the latest newbuilding contracted by the Company at the end of 2007.

The Company has already announced the sale of 2 newbuildings for delivery in 2010 (of which one is 50% owned) with a profit of USD 14.9 million, and the total known profit from the sale of vessels for that year is thus USD 22.6 million.

As previously announced, the Company will publish its annual report for 2007, including expectations for 2008, on Monday 10 March 2008.

Dampskibsselskabet ”NORDEN” A/S, press release