Dampskibsselskabet Norden A/S Stock

Dampskibsselskabet Norden AS operates as an independent shipping company that operates in Copenhagen, Singapore, Shanghai (China), Annapolis (USA), Rio de Janeiro (Brazil) and Mumbai (India).

The company operates dry cargo and tanker vessels world-wide and also operates of Handymax bulkcarriers.

The company operates ships in the Capesize, Panamax and Handymax segments.

Dry Cargo

The bulkcarriers (Capesize and Panamax) transport iron ore and coal. The Handymax vessels also transport steel, grain, cement, sugar, fertilizer and other types of cargo. Handymax vessels are typically equipped with cranes, which enables them to operate more independently of port facilities.

Tankers

The company operates ships in three segments in the tanker market, with Aframax, Medium Range (MR) and Handysize (Short Range) product tankers. The Aframax tankers transport crude and fuel oil and primarily sail in the North Sea and the Far East, while the MR and SR vessels primarily carry refi ned oil products in the Atlantic region and the Far East.

The company owns and operates product carriers between 35,000 and 45,000 dwt and Aframax crude oil carriers.

As of December 31, 2004, the company’s fleet comprised 107 bulkcarriers and 16 tankers, of which 7 were its own vessels. In addition to this, the company has a newbuilding program of 10 vessels and has 25 on long-term charters with purchase options.

Agreements

In January 2005, the company entered a strategic collaboration with the shipping company Interorient Navigation Company (INC) on the Norient Product Pool A/S. It comprised 18 Handysize and MR product tankers.

History

Dampskibsselskabet Norden AS was founded by Mr Mads Christian Holm in 1871.