DS Norden’s exposure to product tankers supports the rally in the stoc...

In the past 12 months, DS Norden has outperformed the Drewry dry bulk equity index by 84.6% because of strong freight rates in the product tanker market, partially offset by a recent fall in freight rates of dry bulk vessels. Although vessel earnings of dry bulk have fallen, the company will be profitable as the it has already covered the dry bulk vessel days above operating costs for 2H22 and 2023. Vessel earnings of product tankers are likely to be lower than 2022 but above the historic averag...