Denmark’s Norden has added seven vessels under new lease deals with purchase options, reinforcing its focus on asset flexibility while modernising its fleet in the project cargo and dry bulk segments.

The latest deals include six multipurpose (MPP) vessels — four newbuilds for delivery in 2027 and 2028 and two secondhand vessels already operating in Norden’s fleet. The company also signed a lease agreement for one handysize bulker newbuilding, scheduled for delivery in 2026.

Norden entered the project cargo segment in 2023 and has since amassed a fleet of specialised vessels dedicated to transporting windmill components, large-scale batteries, industrial plant components and breakbulk cargoes.

The company said the leases go along with its twofold strategy: unlocking asset value while staying positioned for future market upside, and continuing to upgrade its fleet.

“These new leases align with our aim to replace older tonnage and maintain flexibility through purchase options,” the company said in a statement.

So far in 2025, the Jan Rindbo-led company has entered into 18 lease agreements with purchase options.

Meanwhile, a wave of disposals tied to its purchase-option strategy has been evident throughout 2025, with the company having sold more than 15 ships this year, the majority of which were tied directly to purchase-option conversions.