Navig8 Chemical Tankers and CEO Jens Grønning saw a 2020 in which two extraordinary cases caused both frowns and a setback on the bottom line. The company now feels well equipped for an upturn in chemical tanker, the CEO tells ShippingWatch.
Tanker shipping company Navig8 Chemical grew its bottom line deficit further in 2020. At the turn of the year, the company canceled a series of management contracts linked to its ownership group Navig8 Group.
In 2020, Odfjell likely surpassed one billion dollars in revenue and doubled its operating result to USD 125-130 million. "We have an optimistic view of the chemical tanker market in 2021, but we're not naive," CEO Kristian V. Mørch tells ShippingWatch.
Navig8 Chemical Tankers suffered a deficit of USD 3.6 million, according to the interim report for the second quarter. The market for chemical products has stabilized, albeit at lower levels, says CEO.