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Odfjell lands first quarterly profit since 2013

Product tanker carrier Odfjell SE has delivered its first quarterly profit since 2013, a positive result attributed in particular to a series of expired bunker derivaties. The carrier is reconsidering its future in gas.

Photo: Odfjell

Odfjell SE finally got rid of a series of bunker derivatives which have till now prevented the Norwegian product tanker carrier from reaping the benefits of the low oil price. And finally a quarter delivered a profit.

"We are pleased to see the increasing benefits from our cost cutting and efficiency program last year, which is now fundamentally changing the competitiveness of Odfjell," says Odfjell CEO Kristian Mørch in a statement.

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