Norden locks in seven vessels with lease-to-own deals
Norden Expands Fleet with Strategic Vessel Leases
Denmark’s Norden has taken a significant step in modernizing its fleet by securing seven new vessels through lease agreements that include purchase options. This move underscores the company’s commitment to asset flexibility while enhancing its capabilities in the project cargo and dry bulk sectors. The latest additions consist of six multipurpose vessels and one handysize bulker, with deliveries scheduled between 2026 and 2028.
Details of the New Lease Agreements
The recent lease agreements include four newbuild multipurpose (MPP) vessels, set to be delivered in 2027 and 2028, alongside two secondhand vessels already part of Norden’s operational fleet. Additionally, the company has signed a lease for one new handysize bulker, expected to arrive in 2026. This strategic expansion into the project cargo segment, which began in 2023, has allowed Norden to build a specialized fleet capable of transporting essential components such as windmill parts, large-scale batteries, and industrial machinery.
Norden’s approach is driven by a dual strategy: unlocking asset value while positioning itself for potential market growth, and continuously upgrading its fleet. In a statement, the company emphasized that these new leases are part of its broader goal to phase out older vessels and maintain operational flexibility through purchase options. So far in 2025, Norden has entered into 18 lease agreements with purchase options, reflecting its proactive stance in fleet management.
Market Strategy and Disposals
In conjunction with its leasing strategy, Norden has also been active in the market with a series of disposals. Throughout 2025, the company has sold over 15 ships, primarily linked to its purchase-option strategy. This wave of disposals highlights Norden’s commitment to optimizing its fleet and ensuring that it remains competitive in a rapidly evolving maritime landscape. The company’s leadership, under CEO Jan Rindbo, is focused on maintaining a modern and efficient fleet that can adapt to changing market demands.
As Norden continues to navigate the complexities of the shipping industry, its recent lease agreements and strategic disposals position it well for future opportunities, reinforcing its role as a key player in the project cargo and dry bulk markets.
