Nasdaq CopenhagenIFRS · USD

NORDIC SHIPHOLDING A/S

NORDIC SHIPHOLDING A/S is a Danish shipping company focused on maritime transport and related vessel operations. Its business is organized around owning and operating ships that carry cargo on international routes, with commercial activity tied to shipping markets and port-to-port trade.

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Revenue-0.0m USD
−100.5 %y/y
Operating profit (EBIT)-0.5m USD
−404.5 %y/y
EBIT margin1,675.0%
+1,672.4 ppy/y
Net income-0.9m USD
−130.5 %y/y

Fiscal year 2023 · change from previous year

Development 2021–2023

-100102030m USD2021: 22 m USD2021: EBIT -3.9 m USD20212022: 5.9 m USD2022: EBIT 0.15 m USD20222023: -0.03 m USD2023: EBIT -0.47 m USD2023-0.03-0.47
RevenueOperating profit (EBIT)
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Business

Share of revenue
Seaborne cargo transport70 %

Transport of goods by vessel on scheduled or contract-based routes.

Vessel chartering20 %

Income from chartering ships to counterparties under commercial agreements.

Ship operations10 %

Operating, crewing, and managing vessels to support transport activity.

Customers

The company serves cargo owners and shipping counterparties that need ocean transport capacity. Demand comes from industrial and trading customers that value reliable vessel access, route coverage, and contract execution. It may also transact with charterers and other shipping market participants depending on vessel deployment.

Cargo owners

Buy shipping capacity to move goods internationally and reliably.

Charterers

Lease vessel capacity for specific voyages or periods.

Trading and logistics firms

Use the fleet for freight execution and route coverage.

Strategy

The business is centered on deploying vessel capacity where charter and freight demand supports efficient utilization. Commercial discipline, fleet management, and route selection are important because shipping returns depend heavily on vessel employment and market rates.

Fleet deployment disciplineShort term

Shipping economics depend on putting vessels to work at acceptable terms.

Operating reliabilityMedium term

On-time, safe vessel operations support customer retention and contract execution.

Geography

The company is headquartered in Denmark and operates in international shipping markets rather than a single domestic route network. Its business is exposed to global trade lanes, fuel and port conditions, and the economics of vessel deployment across regions.

Risks

Shipping companies are highly exposed to freight-rate volatility, fuel costs, and changes in global trade volumes. This business also faces operational risks from vessel downtime, weather, regulation, and marine incidents, all of which can affect deployment and earnings. Counterparty and credit risk matter because charter and transport revenue depends on customers honoring contracts and paying on time.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Freight-rate volatility1Operational downtime2Counterparty credit risk3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Freight-rate volatilityImpact: HighLikelihood: High

    Revenue and contract economics depend on market shipping rates and vessel employment.

    Exposure: International shipping markets

  2. Operational downtimeImpact: HighLikelihood: Medium

    Maintenance issues, weather, or incidents can remove vessels from service.

    Exposure: Fleet operations

  3. Counterparty credit riskImpact: MediumLikelihood: Medium

    Charterers and cargo customers may delay or fail to pay under contract terms.

    Exposure: Commercial counterparties

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Accounting

Judgemental items
Vessel depreciation and impairment

Fleet values depend on long-term shipping economics and market conditions.

Impact: Can materially affect earnings and book value

Revenue timing on charters and voyages

Income depends on when transport services are earned and billed.

Impact: Can create quarter-to-quarter revenue variability

Maintenance and dry-docking provisions

Large vessel upkeep costs may be accrued before cash payment.

Impact: Affects operating expense timing and comparability

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Last updated: 24/10/2026