Odfjell SE: First quarter 2021 results impacted by seasonality and weather disruptions
Odfjell SE today reported its results for the first quarter of 2021. The report shows that the chemical tanker market and Odfjell’s results were negatively influenced by seasonality, disruptions of COA volumes caused by the unprecedented freeze in Texas, and a challenging CPP market. Highlights for 1Q21
• Timecharter earnings in Odfjell Tankers of USD 120 million compared to USD 125 million in 4Q20
• Net result contribution from Odfjell Terminals of USD 0.2 million compared to USD -0.6 million 4Q20
• EBIT of USD 8 million compared to USD 18 million in 4Q20
• Net result of USD -16 million compared to USD -3 million in 4Q20. Excluding extraordinary items, net result was USD -14 million compared to USD -1 million in 4Q20