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Odfjell's net loss narrows on improved chemical tanker market

10:13 AM MDT | August 23, 2013 | Ian Young

Odfjell posted a net loss of $2 million for the second quarter of 2013 compared with a net loss of $28 million in the corresponding period of 2012. Ebitda increased to $36 million from $27 million one year earlier but revenue sank to $294 million from $307 million. Ebitda at Odfjell's chemical tanker business more than doubled year on year (YOY), to $30 million in the second quarter but revenue dipped to $255 million from $269 million. "The second quarter of 2013 turned out better than expected," Odfjell says. "This was due to better fleet...

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