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.

A letter from the Editor


Dear Readers,

The coronavirus disaster has modified the world utterly in the previous few months. All of us have been locked into our houses, financial exercise has come to a close to standstill. Everyone has been impacted.

Including your favorite enterprise and monetary newspaper. Our printing and distribution chains have been severely disrupted throughout the nation, leaving readers with out entry to newspapers. Newspaper supply brokers have additionally been unable to service their clients due to a number of restrictions.

In these tough instances, we, at BusinessLine have been working constantly day-after-day so that you’re knowledgeable about all of the developments – whether or not on the pandemic, on coverage responses, or the influence on the world of enterprise and finance. Our group has been working around the clock to preserve observe of developments so that you just – the reader – will get correct info and actionable insights with the intention to defend your jobs, companies, funds and investments.

We try our greatest to make sure the newspaper reaches your arms day-after-day. We have additionally ensured that even when your paper shouldn’t be delivered, you possibly can entry BusinessLine within the e-paper format – simply because it seems in print. Our web site and apps too, are up to date each minute, with the intention to entry the knowledge you need wherever, anytime.

But all this comes at a heavy price. As you might be conscious, the lockdowns have worn out nearly all our whole income stream. Sustaining our high quality journalism has turn into extraordinarily difficult. That now we have managed to date is thanks to your assist. I thank all our subscribers – print and digital – to your assist.

I enchantment to all or readers to assist us navigate these difficult instances and assist maintain one of many really unbiased and credible voices on the earth of Indian journalism. Doing so is simple. You may help us enormously just by subscribing to our digital or e-paper editions. We provide a number of reasonably priced subscription plans for our web site, which incorporates Portfolio, our funding advisory part that gives wealthy funding recommendation from our extremely certified, in-house Research Bureau, the one such group within the Indian newspaper trade.

Just a little assist from you may make an enormous distinction to the reason for high quality journalism!

Support Quality Journalism