Dampskibsselskabet Norden
Encyclopedia
Dampskibsselskabet Norden A/S (commonly abbreviated D/S Norden) is a Danish
shipping
company operating in the dry cargo and tanker segment worldwide.
The company headquarters
are located in Copenhagen
, Denmark
and the company is listed on the Copenhagen Stock Exchange
.
build steamship. The company is composed of a dry cargo
and a tanker
division.
and Panamax
bulk carriers and has significant activities in the Handysize
and Capesize
segments. The latest initiative is the entry into the Post-Panamax segment.
segment, which transports crude oil, and in the Handysize and MR product tanker segments.
The product tanker activities are operated through the Norient Product Pool, which is jointly owned by DS NORDEN and Interorient Navigation Company Ltd. .
tried to take over DS NORDEN. Despite resistance from some shareholders, TORM eventually gained control of almost 33 % of NORDEN's shares. Although the takeover
attempt was unsuccessful, rising stock prices meant that TORM held onto the shares until 2007.
Norden has its head office in Copenhagen
and offices in Singapore
, Shanghai
, Annapolis, Rio de Janeiro
and Mumbai
. At its offices the company has in total 209 employees and about 300 are employed on the Company’s owned vessels.
Norden was a founding member of the Danish Shipowners' Association in 1884 and has been a member ever since. It is also a member of the international organisations; Intertanko (The International Association of Independent Tanker Owners), BIMCO (The Baltic and International Maritime Council) and ICC Denmark (International Chamber of Commerce).
Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
shipping
Shipping
Shipping has multiple meanings. It can be a physical process of transporting commodities and merchandise goods and cargo, by land, air, and sea. It also can describe the movement of objects by ship.Land or "ground" shipping can be by train or by truck...
company operating in the dry cargo and tanker segment worldwide.
The company headquarters
Corporate headquarters
Corporate headquarters is a term used to describe the entity at the top of a corporation to take full responsibility for the overall success of the corporation, ensures Corporate Governance...
are located in Copenhagen
Copenhagen
Copenhagen is the capital and largest city of Denmark, with an urban population of 1,199,224 and a metropolitan population of 1,930,260 . With the completion of the transnational Øresund Bridge in 2000, Copenhagen has become the centre of the increasingly integrating Øresund Region...
, Denmark
Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
and the company is listed on the Copenhagen Stock Exchange
Copenhagen Stock Exchange
The Copenhagen Stock Exchange or CSE is an international marketplace for Danish securities, including shares, bonds, treasury bills and notes, and financial futures and options...
.
History
The company was founded in 1871, by Mads Christian Holm making it one of the oldest shipping companies in Denmark. The company was named Norden, after its first vessel, GlasgowGlasgow
Glasgow is the largest city in Scotland and third most populous in the United Kingdom. The city is situated on the River Clyde in the country's west central lowlands...
build steamship. The company is composed of a dry cargo
Dry bulk cargo barge
A dry bulk cargo barge is a barge designed to carry freight such as coal, finished steel or its ingredients, grain, sand or gravel, or similar materials. Barges are usually constructed of steel. They have an outer hull, an internal void that is fitted with heavy struts and cross braces or...
and a tanker
Tanker (ship)
A tanker is a ship designed to transport liquids in bulk. Major types of tankship include the oil tanker, the chemical tanker, and the liquefied natural gas carrier.-Background:...
division.
Dry cargo
In dry cargo, the Company is one of the world’s largest operators of HandymaxHandymax
Handymax and Supramax are naval architecture terms for a bulk carrier,in a series that is called Handysize class. Handysize class consists of Supramax , Handymax , and Handy Handymax and Supramax are naval architecture terms for a bulk carrier,in a series that is called Handysize class. Handysize...
and Panamax
Panamax
Panamax and New Panamax are popular terms for the size limits for ships traveling through the Panama Canal. Formally, the limits and requirements are published by the Panama Canal Authority titled "Vessel Requirements"...
bulk carriers and has significant activities in the Handysize
Handysize
Although there is no official definition in terms of exact tonnages, Handysize most usually refers to a dry bulk vessel with deadweight of about 15,000–35,000 tons...
and Capesize
Capesize
Capesize ships are cargo ships originally too large to transit the Suez Canal . To travel between oceans, such vessels used to have to pass either the Cape of Good Hope or Cape Horn. In effect Capesize reads as "unlimited"...
segments. The latest initiative is the entry into the Post-Panamax segment.
Tanker
In tankers, the Company is active in the AframaxAframax
An ' ship is an oil tanker smaller than and with a breadth above 32.31 m. The term is based on the Average Freight Rate Assessment tanker rate system. class tankers are largely used in the basins of the Black Sea, the North Sea, the Caribbean Sea, the China Sea and the Mediterranean...
segment, which transports crude oil, and in the Handysize and MR product tanker segments.
The product tanker activities are operated through the Norient Product Pool, which is jointly owned by DS NORDEN and Interorient Navigation Company Ltd. .
Takeover bid by TORM
In 2002 rival shipping company DS TORMDampskibsselskabet TORM
A/S Dampskibsselskabet TORM or TORM , based in Copenhagen, Denmark, is a shipping company that owns and operates product tankers and bulk carriers. TORM's company's tankers carry refined oil products such as gasoline, jet fuel, naphtha and diesel oil...
tried to take over DS NORDEN. Despite resistance from some shareholders, TORM eventually gained control of almost 33 % of NORDEN's shares. Although the takeover
Takeover
In business, a takeover is the purchase of one company by another . In the UK, the term refers to the acquisition of a public company whose shares are listed on a stock exchange, in contrast to the acquisition of a private company.- Friendly takeovers :Before a bidder makes an offer for another...
attempt was unsuccessful, rising stock prices meant that TORM held onto the shares until 2007.
Fleet
DS Norden's fleet is among the most modern and competitive in the industry and the firm operates in total 209 dry cargo- and tanker vessels (a mix of owned and chartered tonnage). In addition NORDEN has an extensive newbuilding programme and has in total 86 vessels on order (dry cargo 69, tanker 17).Norden has its head office in Copenhagen
Copenhagen
Copenhagen is the capital and largest city of Denmark, with an urban population of 1,199,224 and a metropolitan population of 1,930,260 . With the completion of the transnational Øresund Bridge in 2000, Copenhagen has become the centre of the increasingly integrating Øresund Region...
and offices in Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
, Annapolis, Rio de Janeiro
Rio de Janeiro
Rio de Janeiro , commonly referred to simply as Rio, is the capital city of the State of Rio de Janeiro, the second largest city of Brazil, and the third largest metropolitan area and agglomeration in South America, boasting approximately 6.3 million people within the city proper, making it the 6th...
and Mumbai
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
. At its offices the company has in total 209 employees and about 300 are employed on the Company’s owned vessels.
Norden was a founding member of the Danish Shipowners' Association in 1884 and has been a member ever since. It is also a member of the international organisations; Intertanko (The International Association of Independent Tanker Owners), BIMCO (The Baltic and International Maritime Council) and ICC Denmark (International Chamber of Commerce).