In line with their positive long-term outlook for Capesize freight rates, NORDEN are pleased to announce the addition of two Capesize newbuilding leases with purchase options, reinforcing their commitment to building a highly efficient and modern Capesize fleet. This will enhance their ability to serve customers reliably and ensure they remain at the forefront of sustainable and cost-effective shipping against a backdrop of an ageing fleet and historic low orderbook.
The vessels will be built in Japan with expected deliveries in 2026 and 2027.
This brings their core fleet of owned and leased Capesize vessels to 13 ships, including seven newbuildings, with an average age of 2 years. In addition, NORDEN currently operates a shorter-term chartered fleet of 10 Capesize vessels on the water, servicing major customers in the mining sector.
The Capesize segment is thus an important part of NORDEN’s ocean-based global freight service for dry and liquid bulk cargo of all sizes, spanning around 450 vessels in total.
About Capesize vessels
Capesize bulk carriers are usually between 150,000-210,000 tonnes in deadweight with a length of 289 meters. The vessels are 45 meters wide with a draft of about 18 meters when fully loaded. The name Capesize originates from a time when the vessels were too large to transit the Suez Canal and Panama Canal and instead had to traverse between oceans via either Cape of Good Hope or Cape Horn.