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Odfjell points to weak market in third quarter

The Norwegian chemical tanker carrier made a profit in the second quarter, abetted by an improved market, but projects another market downturn in the third quarter.

Photo: Odfjell

Chemical tanker carrier Odfjell has published its results for the first half of 2015 - the first report presented to shareholders by new CEO Kristian Mørch, formerly of Clipper.

Revenue in the first half of the year came to USD 539 million, a small decline from USD 593 million in the first half of 2014, while earnings for the second quarter this year landed at USD 7 million, but a deficit of USD 25 million for the first six months combined. This was somewhat better than the first half of 2014 in which Odfjell lost USD 48 million.

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