NORDEN's new vessels will complement its existing fleet, enabling it to serve more customers who rely on the ships to transport them to ice-affected ports and regions.

NORDEN has signed a 10-year contract with LKAB. This type of contract is known as a Contract of Affreightment (COA). NORDEN has also ordered two ice-class multipurpose vessels. These vessels will help the company expand its presence in specialised market segments.

A long-term COA with Swedish mining company LKAB and the order of two new vessels is enabling NORDEN to expand into the ice-class segment. This supports the company's strategy to build a more resilient and customer-focused business.

The COA is valid for up to 10 years

The COA is valid for up to 10 years and covers the transportation of bentonite from Greece to northern Sweden. In support of this contract, NORDEN has ordered two 23,000 dwt ice-class multipurpose vessels from the Wuchang Shipbuilding Industry Group in China, which are expected to be delivered in 2028.

The plan to expand  long-term business

NORDEN is strengthening its long-term, customer-linked business and expanding its ability to serve customers with transport needs in ice-prone regions thanks to the transaction. "This deal is in line with our plan to expand our long-term business and ensure more consistent earnings. At the same time, the addition of two ice-class vessels enables us to offer a wider range of solutions to customers with transport needs in northern and ice-prone waters,” says CEO Jan Rindbo.

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New vessels 

NORDEN's new vessels will complement its existing fleet and allow it to serve more customers. These customers will be able to rely on the ships to transport them to ports and regions affected by ice conditions.

With a capacity of 23,000 deadweight tonnes, each vessel will be equipped with two cranes, each with a capacity of 80 tonnes. Designed for flexible and fuel-efficient operations across a wide range of cargo types, the vessels are built to Finnish-Swedish Ice Class 1A standards. Biofuel will also be a viable option for the vessels, supporting lower-emission transport solutions for customers and building on NORDEN's proven track record in biofuel operations

.Long-term contract execution

Long-term contract execution is just one of the things these vessels can support. Thanks to them, NORDEN can serve a broader range of industrial customers with ice-class transport needs in northern waters. This is all made possible by modern and fuel-efficient tonnage.

After exploration in 2025 LKAB

 On the other hand after exploration in 2025 LKAB has continued to add quantity and confidence to the Mineral Resources of the company whilst improving the quality of the Mineral Reserves, reaching a combined inclusive total of 7,2 billion tonnes. Compared to 2024, the total Mineral Resources have increased by some 900 million tonnes (exclusive of Reserves), with about 770 million tonnes of the increase reported at the Malmberget mine.

About LKAB

LKAB is an international mining and minerals group offering iron ore and mineral products. They are committed to developing carbon-free processes by 2045, thereby spearheading the transformation of the iron and steel industry. They mine over 80 per cent of all iron ore in the EU, and have developed unique innovations and technological solutions since 1890. By 2025, the group had over 5,000 employees in 12 countries and generated sales of approximately SEK 33 billion.
Visit lkab.com to find out more.

About : Norden Shipyard 

Norden Shipyard (formerly De Schroef) is a Netherlands-based ship repair and construction facility located in Sas van Gent, specializing in maintenance, modification, and conversion for inland and seagoing vessels. As part of the Turkish Hicri Ercili Group, it operates on a 42,000 

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