Norden is planning to invest signifcantly in the dry bulk segment in preparation for the next upturn.
In an interview with Ritzau, CEO Carsten Mortensen said now is time to start building, saying "We will invest significantly in bulk in 2013, and it is not something we just talk about, we are doing it."
With $690m worth of cash, marketable securities and credit facilities, Norden is to invest in newbuilding bulkers.
He said that the company will focus on eco-friendly vessels, in particular.