Copenhagen, Denmark-based dry cargo and product tanker transport firm Dampskibsselskabet NORDEN A/S, will shut its India workplace in Mumbai from August 1 and relocate to Dubai, the corporate mentioned.
NORDEN mentioned it’s relocating to Dubai to construct a extra sustainable base for development throughout your entire Indian Ocean area, together with in NORDEN’s second largest workplace in Singapore.
“By opening an office in Dubai, we are following our clients to this trading hub, which we believe will bring increased access to clients and the employee base we are searching for,” mentioned Christian Vinther Christensen, Head of Dry Operator at NORDEN.
“The decision also follows growing dry cargo activities in NORDEN, which have seen us capturing market shares, also throughout the Covid-19 crisis, to our current operation of over 300 dry cargo vessels,” he added.
NORDEN is considered one of Denmark’s oldest internationally operational transport firms.
The firm has been operational in Mumbai since 2005 via a wholly-owned subsidiary NORDEN Tankers & Bulkers India LLP and has 10 staff.
NORDEN’s move to shut its Mumbai workplace and move to Dubai comes at a time when the federal government is trying to appeal to firms to arrange store in India. Shipping trade sources mentioned India ought to deal with retaining established companies.
The move to Dubai alerts that the corporate is now prepared to take exercise within the Indian Ocean area to the subsequent stage. Opening of the Dubai workplace would enable NORDEN to proceed to create, seize and ship worth to the corporate’s many consumers within the space, thereby sustaining shut relations with the numerous Indian purchasers who’ve relocated to Dubai, whereas creating the muse for future development throughout the area, Christensen mentioned.
The Mumbai workplace taken care of NORDEN’s pursuits in India and West Asia, focussing on dry cargo within the Panamax and Supramax vessel sorts, a section wherein it is without doubt one of the world’s largest ship operators.
India’s dry cargo commerce is dominated by thermal coal, coking coal, iron ore, metal, and fertiliser shipments.
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