NORDEN sells 3 dry cargo vessels

12 November 2008

NORDEN has agreed to sell 3 dry cargo vessels. The gross sales price amounts to a total of USD 85.8 million, and the total profit amounts to USD 15.5 million.

The vessels in question are the Panamax bulkcarrier NORD SUN (76,830 dwt, built in 2004), the Handymax bulkcarrier NORDHOLT (55,697 dwt, built in 2005) and the Panamax bulkcarrier NORD SATURN (76,620 dwt, built in 2005). It is expected that NORD SUN and NORDHOLT will be delivered to the new owners during the fourth quarter of 2008 and NORD SATURN will be delivered during the first quarter of 2009.

The vessel sales do not change NORDEN's 2008 full-year guidance as reported on 1 October

NORDEN