D/S Norden awarded with 10-year contract by GNPower Mariveles Coal Plant

Nord NeptuneThe Danish shipowner D/S Norden was awarded with 10-year contract by GNPower Mariveles Coal Plant for transportation of coal to Luzon Island in Philippines. The contract includes transportation of 20-24 million tons of coal from Indonesia to Philippines on Panamax vessels, commencing in the first quarter of 2017. The Luzon Island power plant has consumption of 2 million tons per year, which will be transported by 25-30 voyages per year, each taking around 20-22 days. The finance details of the contract were no disclosed, but Danish shipowner Norden described it as the largest in the company’s history.

“We are both proud and happy that GNPower has chosen Norden to handle the transportation of coal to this modern power plant over the coming 10 years. It reflects that the customers know Norden to be a reliable and safe business partner which you can count on – also when it concerns very long-term contracts”, said the CEO of Norden, Jan Rindbo. “We look forward to extending and strengthening our collaboration with GNPower further, and we are now focusing on living up to the high expectations which GNPower and other customers can rightly have for Norden”, added he.

The Bataan-based GNPower Mariveles Coal Plant began its production in 2013, and from the start Norden has transported coal to the plant on behalf of an Indonesian coal producer.

D/S Norden is a Danish shipping company operating in the dry cargo and tanker segment worldwide. In dry cargo, the Company is one of the world’s largest operators of Handymax and Panamax bulk carriers and has significant activities in the Handysize and Capesize segments. The latest initiative is the entry into the Post-Panamax segment. D/S Norden’s fleet is among the most modern and competitive in the industry and the firm operates in total 209 dry cargo- and tanker vessels.