People & Business :: Earnings/Finance
Odfjell Swings to a Net Loss on Weak Chemical Tanker Market
7:57 AM MDT | August 22, 2012 | Ian Young
Odfjell posted a net loss of $28 million for the second quarter of 2012, compared with a net profit of $5 million in the corresponding quarter of 2011, on sales up 14%, to $307 million. Ebitda increased 12%, to $27 million. The results reflect a continued weak chemical tanker market characterized by softer demand and lower freight rates that were cushioned slightly by a decrease in bunker fuel prices, Odfjell says. Factors impacting Odfjell's chemical tanker business during the second quarter also included the enforcement of additional sanctions on petrochemicals...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee