IHS Chemical Week

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Odfjell's net losses widen

1:43 PM MST | February 14, 2014 | Ian Young

Odfjell's net losses widened in the fourth quarter of 2013, to $102 million from net losses of $40 million in the year-earlier period, on revenue of $284 million, down from $296 million one year earlier. The fourth-quarter net loss includes an impairment charge of $76 million related to environmental infringements at the Odfjell Terminals Rotterdam (OTR) tank storage operation. The company had swung to a $9-million net profit in the third quarter of 2013. Odfjell's Ebitda increased by $1 million year-on-year (YOY), to $18 million, in the fourth quarter of 2013...

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