Odfjell SE 2Q19: Improved results from Odfjell Tankers as spot and COA rates begin to recover
Odfjell SE today reported its results for the second quarter of 2019. The results reflect an improving chemical tanker spot market and improved contract renewal rates. Highlights for the second quarter of 2019: • The chemical tanker market continued to improve• EBITDA of USD 57 million, compared with USD 47 million in 1Q19• EBITDA of USD 50 million from Odfjell Tankers compared with USD 40 million in 1Q19. Excluding the effect from IFRS 16, Odfjell Tankers EBITDA improved to USD 37 million in 2Q19 vs USD 27 million in 1Q19• EBITDA of USD 6 million from Odfjell Terminals compared