Cancellation of time charter agreement and sale of 2 vessels

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Dampskibsselskabet NORDEN A/S
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NASDAQ OMX Copenhagen A/S                                    Announcement no. 6
Nikolaj Plads 6                                                22 February 2010
1067 Copenhagen K


Cancellation of time charter agreement and sale of 2 vessels

NORDEN has agreed to cancel a time charter contract for a Panamax vessel
against payment from the charterer of the present value of the difference to
the market rate in cash. The time charter agreement had a remaining term of
approximately 4 years, and the cancellation payment falls due in the first or
second quarter of 2010. 

In addition, NORDEN has sold 2 bulk carriers. The vessels concerned are a
Handymax newbuilding for delivery from the yard in the second quarter of 2010
and the 10-year-old Capesize NORD-KRAFT for expected delivery in the second
half of 2010. Both sales have been made at levels somewhat above the broker
valuations which the Company received at 1 January 2010. 

The total effect on EBIT for 2010 of the above transactions amounts to
approximately USD 25 million while the cash flow effect will be USD 90-100
million. 

As earlier announced, NORDEN will publish its annual report for 2010 on 9
March, including overall expectations for 2010. 


                                  Kind regards,
                         Dampskibsselskabet NORDEN A/S

                                Carsten Mortensen
                                 President & CEO


Contact at tel. +45 3315 0451: Martin Badsted, Senior Vice President.

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                         Dampskibsselskabet NORDEN A/S
                                52, Strandvejen
                               DK-2900 HELLERUP
                               CVR no. 67758919
                               www.ds-norden.com