Odfjell has seen its second quarter net income come in more than double the figure that was achieved twelve months ago.
The Oslo-listed chemical tanker reported a profit of $16m for the three month period against the $7m seen a year ago.
While revenue was down 16% year-on-year to $205m, the shipowner saw voyage expenses declined by 36% to $65m.
“Our markets are currently challenging, but we are pleased to see that the increased competitiveness of Odfjell means that we continue to generate positive results,” said chief executive Kristian Morch.
Looking
