Highlights - 3Q26
Odfjell's strong safety performance continued.
Time charter earnings ended at USD 192 million, compared to USD 195 million in 2Q26.
TCE per day for the quarter was USD 27,892 versus USD 29,486 in 2Q26, reflecting softer spot markets compared to the peak early in the previous quarter.
EBIT of USD 59 million, compared to USD 69 million in 2Q26.
Net result contribution from Odfjell Terminals of USD 2.2 million, versus USD 1.8 million in 2Q26.
Group net result of USD 40 million, compared to USD 54 million in the previous quarter. Adjusted net result amounted to USD 43 million, compared to USD 56 million in 2Q26.
The carbon intensity (AER) of Odfjell’s controlled fleet was 6.9, the same as the previous quarter.
Odfjell took delivery of three newbuildings, one owned 26,000 dwt vessel and two newbuildings on long-term time charter.
After quarter end, Odfjell concluded the sale of two 15-year-old coated chemical tankers, and also committed to long-term contracts for two additional stainless steel supersegregators.
"I am pleased with our solid performance in a volatile market. We maintained strong time charter earnings while successfully deploying three additional vessels during the quarter.
Global seaborne chemical volumes remain below pre-conflict levels, but vegoil and biofuel volumes compensate. This, combined with strengthening MR tanker earnings and therefore near-zero swing tonnage, supported chemical freight rates.
Regular trading patterns continue to be disrupted. We expect the underlying net result in 4Q26 to be somewhat lower than in the third quarter," said CEO Harald Fotland.
Please see below for the 3Q26 report and presentation. Tomorrow, Thursday, November 5, at 09:00 CET, Odfjell SE will present the results in a live webcast, followed by a Q&A session.
Watch the presentation at https://www.odfjell.com/investors/webcast. The presentation will be held in English.
Contact
Nils Jørgen Selvik, VP Finance & IR
Tel: +47 920 39 718
E-mail: nils.jorgen.selvik@odfjell.com
