Odfjell SE 3Q16: A good quarter despite challenging markets
EBITDA of USD 60 million and a net result of USD 16 million in third quarter compared to an EBITDA of USD 61 million and a net result of USD 16 million in previous quarter of 2016. Balance sheet continues to strengthen. The downward trend in freight rates we observed in 2Q continued through 3Q, however contract nominations and efficient allocation of our fleet softens the impact of the weaker market. The Chemical Tanker segment delivered an EBITDA of USD 48 million and an EBIT of USD 25 million, same as previous quarter. Odfjell's shareholding in the Tank Terminal segment continue to