NORDEN sells 2 vessels and increases profit guidance
14 Mar 2008
The Group has agreed to sell the Panamax bulkcarrier NORD LUNA and the Handymax bulkcarrier
NORD WAVE. The gross sales price amounts to a total of USD 144 million, each vessel at
approximately USD 72 million. The total gross profit amounts to USD 85 million.
NORD LUNA, 73,362 dwt, was built in 2000, and NORD WAVE, 53,489 dwt, was built in 2005. It
is expected that both vessels will be delivered to the new owners during the second quarter of 2008.
Above sales will strengthen the Group's earnings (EBIT) in 2008 by USD 75 million.
NORDEN's expectations for 2008 are hereafter revised upwards to a Group EBIT in the range of
USD 835-915 million, including profits from the sale of vessels of USD 212 million.
For this reason, NORDEN's adjusted expectations for the profit after tax for 2008 are in the range of
USD 825-905 million, including negative fair value adjustment of certain hedging instruments of
USD 21 million.
Dampskibsselskabet ”NORDEN” A/S, press release
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