Odfjell SE
OSE:ODF
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Odfjell SE
OSE:ODF
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Odfjell SE
Odfjell SE engages in the transportation and storage of bulk liquid chemicals, acids, edible oils, and other special projects. The company is headquartered in Bergen, Hordaland and currently employs 2,299 full-time employees. The firm is engaged in the provision of transportation and storage of bulk liquid chemicals, acids, edible oils and other special products. Its activities are divided into three business segments: Chemical Tankers, is responsible for the ocean transportation of bulk liquid chemicals, acids, edible oils and other special products; Tank Terminals, which provides shipping and tank storage services in a range of tank terminals, which are located in the Netherlands, the United States, Korea, Oman, China and Iran; as well as Liquid Petroleum Gas (LPG)/Ethylene, which owns and manages LPG/ethylene carriers, such as Bow Guardian and Bow Gallant. The firm cooperates with over 10 terminals in South America and Canada through associated firms. Furthermore, It is a parent of Odfjell Argentina SA, Flumar Transportes de Quimicos e Gases Ltda, among others.
Odfjell SE engages in the transportation and storage of bulk liquid chemicals, acids, edible oils, and other special projects. The company is headquartered in Bergen, Hordaland and currently employs 2,299 full-time employees. The firm is engaged in the provision of transportation and storage of bulk liquid chemicals, acids, edible oils and other special products. Its activities are divided into three business segments: Chemical Tankers, is responsible for the ocean transportation of bulk liquid chemicals, acids, edible oils and other special products; Tank Terminals, which provides shipping and tank storage services in a range of tank terminals, which are located in the Netherlands, the United States, Korea, Oman, China and Iran; as well as Liquid Petroleum Gas (LPG)/Ethylene, which owns and manages LPG/ethylene carriers, such as Bow Guardian and Bow Gallant. The firm cooperates with over 10 terminals in South America and Canada through associated firms. Furthermore, It is a parent of Odfjell Argentina SA, Flumar Transportes de Quimicos e Gases Ltda, among others.
Stable Results: Odfjell reported a net result of $38 million for Q4, down from $43 million in the previous quarter, with time charter earnings and per-day rates remaining stable apart from fewer commercial days.
Cash Flow: Free cash flow rose to $68 million in Q4 from $42 million in Q3, supported by vessel sales and stable working capital.
Fleet Expansion: The company has 22 vessels on order, with 10 new deliveries set for 2026, adding about 12% more commercial days to the fleet.
Green Initiatives: Odfjell launched the world's first operational green corridor between Brazil and Europe, advancing its biofuel strategy and sustainability efforts.
COA Renewals: Contract of Affreightment (COA) renewals saw a slight decrease in average freight rates, with some contracts renewed at rates more than 5% lower.
Market Outlook: Management expects a slight reduction in underlying Q1 net results compared to Q4, with continued positive momentum in chemical tanker markets, but uncertainty remains due to geopolitical tensions and the Red Sea situation.
Dividend: The Board approved a dividend of $0.48 per share for the second half of 2025, with total 2025 dividends reaching $0.98 per share.
