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NORDEN enters into significant long-term contracts of affreightment

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Dampskibsselskabet NORDEN A/S
_______________________________________________________________________________


NASDAQ OMX Copenhagen A/S                                   Announcement no. 36
Nikolaj Plads 6                                                18 December 2009
1067 Copenhagen K


NORDEN enters into significant long-term contracts of affreightment

NORDEN has entered into the longest and largest COA in Handysize so far: a
15-year contract on transport of up to 12 million tonnes of cargo, which will
result in approximately 30 annual shipments over the Atlantic. A contract this
large is unusual within this vessel type. 

The contract will employ a total of approximately 8,000 ship days. Following a
start up period in 2011, this corresponds to 5% of NORDEN's known capacity in
Handysize in the years 2012-2025. As the COA will be part of the joint cargo
program in the NORDEN Handysize Pool, which operates vessels from both NORDEN
and Interorient Navigation Company Ltd., the final distribution of ship days
will depend on the partners' deposit of vessels in the pool. 

In addition, NORDEN has entered into an 11-year contract in Handymax on
transport of more than 6 million tonnes of cargo distributed on approximately
2,200 ship days. The shipments will commence in 2010, and after a start up
period, the contract will annually employ approximately 3% of NORDEN's known
capacity in this vessel type in 2011-2020. 

The contracts do not affect the expectations for 2009 as the shipments will
commence later on. 

The rates in the two contracts are profitable compared to the period markets in
Handysize and Handymax, and the contracts are thus securing reasonable and
steady cash flows in a number of years. In addition, the contracts provide
logistic advantages and opportunities to increase the activities in the areas
in question. 


                                  Kind regards,
                        Dampskibsselskabet NORDEN A/S

                                Carsten Mortensen
                                 President & CEO


Contact at tel. +45 3315 0451: Martin Badsted, Senior Vice President, and Hans
Bøving, Head of Corporate Communications. 

_______________________________________________________________________________

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

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