Odfjell has hit fuel-saving targets for its chemical tanker fleet seven years ahead of schedule after $50m in investments.

The Oslo-listed Norwegian shipowner said on Thursday that it had set a target of 2030 to halve carbon intensity, based on 2008 levels, but had reached the goal for the first time in the first quarter of this year.

This was achieved by a mixture of methods, including renewing its fleet with newer, less-polluting vessels, improved weather routing and regular hull and propeller cleaning, said chief executive Harald Fotland.