Odfjell SE first quarter results 2017: Stable underlying operational performance despite a challenging market
Odfjell SE today reported results for Q1 2017. The results reflect the continued softness in the chemical tankers market, however underlying operational performance remains stable with EBITDA of USD 46 mill compared to 48 mill in Q4 2016. Odfjell presents slightly improved revenue despite a highly competitive market with rising bunker prices. Highlights for the first quarter of 2017: · Odfjell chemical freight index up 1.3% compared to previous quarter · Chemical Tankers EBITDA: USD 36 mill, which is identical to fourth quarter 2016. Fleet renewal programme for large