Dampskibsselskabet Norden AS (LTS:0HDP)
kr 210.6 -0.4 (-0.19%) Market Cap: 6.41 Bil Enterprise Value: 9.69 Bil PE Ratio: 4.93 PB Ratio: 0.77 GF Score: 73/100
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Q3 2024 Dampskibsselskabet Norden A/S Earnings Call Transcript

Oct 31, 2024 / 02:00PM GMT
Release Date Price: kr234.4 (+1.87%)
Operator

Hello and welcome to the Norden Q3 analyst and investor conference call. My name is Elliot and I'll be coordinating your call today.

(Operator Instructions) and I'd like to hand over to Jan Rindbo, Chief Executive Officer. Please go ahead.

Jan Rindbo;S;Chief Executive Officer
Dampskibsselskabet Norden A;Member of the Executive Management

/- -

Thank you very much and also a warm welcome to this conference call from my side. Let me start by sharing the business highlights here for the third quarter of 2024.

So during the quarter, we were operating in market conditions that were weaker than expected for both the dry cargo and tankers. However, in the freight services and trading unit, we did see improving margins in the dry cargo activities but that improvement was offset by weak, weaker tanker spot rates.

We continue to trade our assets actively. And during the quarter, Norden entered into agreements to sell five vessels at an expected future gains of $25 million. Two of the vessels sold were

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