Weaker rates have pushed Odfjell to a second quarter loss of $5m, with the prospect of a further deterioration in the next quarter.
The Oslo-listed chemical tanker giant’s loss marks a sharp turnaround from a year ago when it was posting profits of $16m.
While revenue was largely unchanged from a year ago, its tanker arm reported a 35% year-on-year decline in ebitda to $31m.
