Business school theory and trade experience inform Norden CEO Jan Rindbo's approach to practical challenges in tanker chartering
Over the next few years, it will be interesting to see the results of the internal restructuring that is taking place at Danish product tanker operator Norden. Chief executive officer Jan Rindbo, who is a graduate of the Copenhagen Business School and the MBA programme at INSEAD, explained the changes.
“We have three business units: Dry Owner, Dry Operator and Tanker. Within the last 12 months, we have established a timecharter desk, taking some inspiration from Dry Operator, which is our dry cargo operations division. This is really focusing on time chartering vessels from other owners. So, in addition to being a shipowner, we are increasingly looking toward becoming an operator,” said Mr Rindbo.
While this sounds a little like a case study from business school, it also fits with Mr Rindbo’s professional background. He spent over a decade in dry bulker carrier operations during his time at Pacific Basin in Asia.
“Being an owner ourselves, we have a good understanding of the partnership other owners are looking for,” said Mr Rindbo. As an owner, Norden has valid key performance indicators with which to compare the performance of the chartered-in vessels.
It is very much a partnership approach. “In regards to [IMO] 2020, we are looking to share expertise with other owners,” said Mr Rindbo.
The approach to IMO 2020 is a separate issue to setting up the tanker time-charter desk, and Norden is looking ahead to IMO GHG 2030 in leading the way by purchasing carbon-neutral biofuel for a voyage undertaken by Nord Highlander. "This was a successful test, and was very promising," said Mr Rindbo.
“It also ties in with the bigger purpose here at Norden – to be part of ‘smarter’ global trade under the UN sustainable development goals. We are building our future strategy around meeting those goals,” he added.
This compliments Mr Rindbo’s leadership style. “I very much believe in setting a clear direction and the framework, and then empowering people to find the solutions,” he said.