Attached please find below text as PDF file.

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                                                             Announcement no. 16

                                                                     1 July 2016





Ejner Bonderup resigns as head of NORDEN’s Dry Cargo Department

Today, Executive Vice President and member of the Executive Management in
Dampskibsselskabet NORDEN A/S, Ejner Bonderup, has resigned from his position
in order to take up a position in another shipping company. 

It is with regret that we have received Ejner Bonderup’s resignation.

Ejner Bonderup will continue in his position at NORDEN for transitional
purposes during a limited period of time. Throughout the period ending on 31
December 2017, Ejner Bonderup will be subject to restrictive covenants, unless
released by the Company. 

The Company will initiate the process to recruit a new head of the Dry Cargo
Department. 

After the resignation of Ejner Bonderup, the Executive Management of the
Company will consist of CEO Jan Rindbo and Executive Vice President & CFO
Martin Badsted. 

                                        

                                        

                                  Kind regards

                          Dampskibsselskabet NORDEN A/S

                                  Klaus Nyborg

                                    Chairman





For further information:

Chairman Klaus Nyborg and CEO Jan Rindbo tel. +45 3315 0451

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    DAMPSKIBSSELSKABET NORDEN A/S, 52, STRANDVEJEN, DK-2900 HELLERUP, CVR NO.
                                    67758919