Q3 2023 Dampskibsselskabet Norden A/S Earnings Call Transcript
Hello, and welcome to the NORDEN Q3 2023 Results Presentation. My name is Elliot, and I will be coordinating your call today. (Operator Instructions)
I'd now like to hand over to Stig Frederiksen, Head of Investor Relations. The floor is yours. Please go ahead.
Thank you very much, and thanks for listening in. Before I hand over the word to Jan, just to remind you our forward-looking statements. Please read what we have in here. And then I will give the word to Jan.
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All right. Thank you very much and welcome to this conference call. NORDEN delivered a strong financial result in the third quarter of 2023 with a profit of $99 million and a return on equity of 27%. This was based on high coverage in dry cargo and a continued strong tanker market. We have seen a challenging dry cargo market during the quarter where spot rates have been down, and that is due to a weaker global demand and a more normalized congestion
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