Tankers Ramps Up Focus On Short-Term
In 2017, NORDEN’s dry bulk activities were successfully split into a Dry Operator and a Dry Owner unit to add resilience in versatile market conditions. Now a similar model is in the making in the company’s tanker business.
“Increasing focus on short-term activities allows us to leverage the agility in the market and increase stability despite the market downturns, limiting the effects of such down cycles,“ says Søren Huscher, CEO, Norient Product Pool (NPP). “With our extensive know-how, vast relations in the market and mindset of a shipowner, we come to market as owners who care for the steel, seeking solutions to the benefit of all parties.”
The mindset of a shipowner NORDEN seeks to strengthen its relations to new and existing owners, operating with long-term targets and objectives to create a more agile business for all parties.
“As a successful shipowner for close to 150 years, NORDEN is a market player, which understands what is important from a shipowner’s perspective, and we are not here to exploit,” says Søren Huscher. “Drawing on the strong earnings capability in Norient Product Pool (NPP) and NORDEN’s solid access to short-term chartered tonnage, paired with focused risk management, market timing, good technical performance and access to off-market deals, enables us to become better equipped to deliver attractive returns.”
NORDEN thereby offers owners experience and expertise with a view to increase efficiency for all parties involved.
Meet the faces of NORDEN’s new T/C desk
Søren Tolbøll Nielsen
Raised in NORDEN via the company graduate program, Søren Tolbøll Nielsen joined NORDEN in 2006 and has been abroad on 3 expatriations, twice to the USA and once to Singapore. The former Officer of the Reserve is the youngest of the team and the team lead, who also heads the chartering desk of NPP, and
will use his broad industry network, dedication and loyalty to bring the two teams together.
“We have created a solid basis for growth and the ambition now is to flourish and, of course, create value,” says Søren Tolbøll Nielsen. “It is truly exciting to be part of this great team and together investigate and develop new possibilities, inspire those around me, and use good craftsmanship, team spirit, loyalty and empathy to kick in the door around the world and create good results.”
“We wish to be recognised as a charterer of ships with an owner’s mind,” Søren Huscher concludes.
To underline the commitment and ambitions, a strong team has been lined up to create a time charter desk, where the ambition is to double the amount of ships in short-term charter from 20 to some 35-40 vessels in the nearer future. With an aggregated experience within tankers and chartering of more than 60 years, NORDEN seeks to further develop the relations and ties with both current and new owners.
As the former head of Handytankers at Maersk Tankers and with experience from the broker side, Kristian Lohmann has over 30 years’ background in shipping, mostly tankers. Having seen the NORDEN and NPP teams as a group of skilled and committed top performers, with great company values and a clear vision and strategy to further develop the tanker business, he is delighted to come on board. Born and bred in Maersk with a stint at broker Howe Robinson, getting insight into the approach of other owners and working to attract tonnage and connecting people and ideas, Kristian Lohmann is a charterer at heart, competitive and opportunity-focused, with an enormous network across the business.
“It is a privilege to return to a world I know and love, where my network is 100% relevant and where I get the opportunity to put experience and network to immediate play,” he says. “NORDEN is somewhat different to other places, both in terms of how you treat others, which is highly inspiring, and how you go to market, which is a mix of a hardcore business approach and appreciation of the role of people and the difference they make, which appeals to a man such as myself who has been around the block a few times.”
Stemming from NORDEN’s Asset Management business, Jacob Schou-Nielsen has been with the company for 2 years, before which he held both operational and commercial roles at TORM for over 13 years. Due to his operational background, he has solid insight into the importance of details and relationship between what is taken in and the pool and having a good balance between these. Previously having the sole responsibility for the short-term charter market at NORDEN, he looks forward to being backed by a strong team, having more input, and growing the relation base, primarily among brokers and owners.
“We are among the most active operators in the world, which is a good basis for further growth. Where we have previously taken an opportunistic approach to the short-term tanker T/C market, this is a good opportunity to adapt our approach, provide structure on short-term tank activities with a structured platform, and tap into NORDEN’s close relations globally but also internally, where I believe there are benefits to facilitate a successful dialogue across chartering, operations and technical.”