Danish shipping company Norden reported a smaller-than-forecast loss for the first quarter on Tuesday but also cut its expected earnings range for the full year. The firm’s loss before interest, tax, depreciation and amortisation (EBITDA) fell to $8 million, while the average forecasts of analysts in a Reuters survey had predicted a operation loss of $9.9 million. The company’s new EBITDA forecast for 2014 ranges from a $40 million loss to a $60 million profit, from a previous guidance of a profit of between $20 and $120 million.