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Weak chemical tanker market sends Odfjell further in the red

Odfjell saw its deficit grow in the first quarter, which was heavily characterized by a weak chemical tanker market. CEO Kristian Mørch believes in market improvement in the second quarter.

Photo: PR/Odfjell

Norway's Odfjell saw a weak market for chemical tanker affect the bottom line negatively in the first months of the year when the deficit grew compared to the beginning of 2020.

Odfjell already reported of a slow start to the year when the company announced its annual results in February. Thursday's results confirm these predictions, with the tanker operator booking a USD 15.9 million deficit, a decline from last year's USD 4.4 million deficit.

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