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Odfjell expects fewer long-term contracts

Norwegian chemical tanker company Odfjell, headed by Kristian Mørch, reduced its number of long-term contracts in the latest quarter and expects the new level to continue in the future.

Norwegian Odfjell Tankers, headed by Chief Executive Kristian Mørch, reduced its number of long-term contracts in the latest quarter to 50 percent, according to an investor presentation published today by Odfjell, which, beyond the carrier, also consists of the company Odfjell Terminals.

Since the beginning of 2017, contract agreements have comprised between 55 and 61 percent of the shipping company's business but are now reduced to precisely half, where Odfjell expects the level to remain stable in the future.

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