Odfjell SE 1Q24: A record quarter
Odfjell SE today reported its results for the first quarter of 2024, showing a record quarter driven by strong markets. The rerouting of vessels away from the Red Sea has elevated freight rates further.Highlights – 1Q24: · Record net result of USD 68 million. Net result adjusted for one-off items was USD 69 million compared to USD 50 million in 4Q23. · Time charter earnings in Odfjell Tankers ended at USD 195 million, compared to USD 182 million in 4Q23. · EBIT of USD 89 million compared to USD 71 million in 4Q23. · Rates on renewed COAs in the quarter were up 14% on average,