Norden has exited ownership of post-panamax bulkers at a loss.

The Danish company has sold four 2010-built post-panamaxes Nord Delphinus, Nord Dorado, Nord Pyxis and Nord Pisces to undisclosed buyers at a loss of $16m.

Following the sale Norden has no owned post-panamaxes, but still operates four in charter.

Proceeds from the sale will be invested in supramax and panamax tonnage which Norden is focusing on.