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Odfjell's net losses widen; agreement signed for expanded tank storage JV

4:44 AM MDT | May 7, 2013 | Ian Young

Odfjell posted a $13-million net loss for the first quarter compared with a net loss of $4 million in the corresponding period of 2012, on sales down 13%, to $291 million. Ebitda fell 34% year-on-year, to $27 million. Odfjell's chemical tankers business registered an operating loss of $4 million in the first quarter compared with an operating profit of $3 million a year earlier, on sales of $253 million, down from $294 million a year earlier. However, the chemical tanker market improved slightly in the first quarter compared with the previous quarter, the...

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