Fearnley: Bright future for Odfjell's chemical ships

In spite of uncertainty regarding the Chinese economy, Fearnley is optimistic about the developments of chemical tanker Odfjell.

Photo: Odfjell

In the latest brief from Fearnley, the analysts express concern regarding the developments of the Chinese economy, but in light of the surprisingly solid European demand in the latest quarter the analysts are optimistic about the development of Norwegian chemical tanker Odfjell.

The company published a surprisingly solid financial report last week, where the total operating profits of USD 36 million were attributed to a high utilization of the chemical fleet combined with the general conditions of the European market. The finacial report also stressed that the average freight rate per ton increased by two percent compare to the first quarter.

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