Denmark’s D/S Norden A/S has rewritten its outlook to reflect a worst‑case scenario in the Persian Gulf. CEO Jan Rindbo told investors the firm now assumes vessels stuck in the Strait of Hormuz will remain trapped until year‑end. The assumption drives the company’s full‑year guidance and reshapes its cargo deployment strategy to protect earnings and maintain dividend policy amid uncertainty.

The blockage stems from heightened tensions between Iran and its regional rivals, which have already forced several tankers to reroute around Africa. Shipping analysts warn that prolonged confinement could compress spot freight rates and pressure freight forwarders dependent on timely deliveries. Norden’s fleet, valued at over $5 billion, now faces idle time and potential revenue shortfalls and could trigger insurance premium hikes.

Investors are watching the move closely, as Norden accounts for roughly 10 % of global dry‑bulk capacity. A year‑long bottleneck could tilt supply‑demand dynamics, prompting charterers to seek alternative routes or negotiate higher contracts. The company’s guidance revision signals that the market may need to price in a prolonged risk premium for Hormuz‑related disruptions and may force renegotiations of existing contracts.