Norden Inks Long-Term Shipping Deals with Enviva

Dampskibsselskabet NORDEN Danish shipping company Dampskibsselskabet NORDEN A/S has signed two agreements with the Enviva family of companies to transport 11 million tons of wood pellets from the US to Europe over a 15-year period. The company entered into two separate contracts with the Enviva family of companies to ship wood pellets from Enviva’s production facilities in the Southeast US to electric power generating facilities in Europe, which use the pellets as fuel. One contract is a nine-year agreement with Enviva, an affiliate of Enviva Partners, that begins in 2018. The other is a 15-year agreement with Enviva Wilmington Holdings that begins in 2019. The work is expected to be undertaken by NORDENs Supramax dry cargo ships. The global market for sustainable wood bioenergy is growing as more electric power generating plants convert from coal to wood pellets in order to reduce their lifetime carbon emissions. Our successful collaboration with Enviva has enabled us to play a leading role in this market, Jan Rindbo, Chief Executive Officer of NORDEN, said.