Odfjell SE 1Q26: Solid operational performance amid market uncertainty
6 maj, 20:00
Odfjell SE today reported its results for the first quarter of 2026. The quarter saw further escalation of geopolitical volatility and uncertainty across global markets. Still, Odfjell delivered a resilient financial result, maintained a strong safety performance, and continued to renew and expand the fleet.
Highlights - 1Q26
- Odfjell's strong safety performance continued amid a more challenging environment.
- Four vessels are currently inside the Strait of Hormuz, one owned and three time chartered. All crew members are safe, and the shore team remains in close contact with each vessel to ensure their continued security.
- Time charter earnings ended at USD 167 million, compared to USD 168 million in 4Q25.
- TCE per day was USD 27,232 versus USD 27,978 in 4Q25. Weaker earnings also reflect initial negative effects from the conflict in the Middle East Gulf, including increased ballasting, rerouting, and higher provisioning and insurance costs.
- EBIT of USD 46 million, compared to USD 53 million in 4Q25.
- Net result contribution from Odfjell Terminals of USD 2.3 million, versus USD 1.8 million in 4Q25.
- Net result of USD 32 million, compared to USD 38 million in the previous quarter. Net result adjusted for one-off items – mainly a USD 4.8 million capital gain from asset sales – amounted to USD 26 million, compared to USD 38 million in 4Q25.
- After quarter-end, Odfjell signed agreements to purchase four 40,000 dwt vessels to be constructed at the Kitanihon shipyard in Japan. Total investment amounts to around USD 290 million. Three newbuildings were delivered on time charter in 1Q26.
- The carbon intensity (AER) of Odfjell’s controlled fleet increased to 7.0 in 1Q26, from 6.8 in the previous quarter, due to seasonal effects, increased docking activity, and inefficiencies related to the conflict in the Middle East Gulf.
"The first quarter of 2026 saw further escalation of geopolitical uncertainty and volatility.
I am proud of our people on board and ashore, who expertly handled both safety, operational, and commercial challenges after the outbreak of the conflict. The situation remains unpredictable, and we continue to monitor developments closely while prioritizing the safety of our crew and vessels.
The increased tonne-miles caused by the disruption of the Strait of Hormuz has led to a surge in rates in most markets.
We expect the underlying net result in 2Q26 to be higher than in 1Q26," said CEO Harald Fotland.
Please see attached for the 1Q26 report and presentation. Tomorrow, Thursday, May 7, at 09:00 CET, Odfjell SE will present the results in a live webcast, followed by a Q&A session. Watch the presentation at https://www.odfjell.com/investor/webcast. The presentation will be held in English.
Contact
Nils Jørgen Selvik, VP Finance & IR
Tel: +47 920 39 718
E-mail: nils.jorgen.selvik@odfjell.com
About Us
The Odfjell Group is one of the leading players in the global market for seaborne transportation and storage of chemicals and other specialty bulk liquids. The Odfjell fleet comprises of approx. 70 ships, which trade both globally and regionally. The tank terminal division comprises four tank terminals, strategically located at select international shipping hubs. The Odfjell Group’s headquarters are in Bergen, Norway, and the Group has offices in 12 locations around the world. Odfjell employs around 2300 staff and posted annual gross revenue of USD 1,115 million in 2025. Read more on www.odfjell.com.
This information has been submitted pursuant to the Securities Trading Act § 5-12 and MAR. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-05-06 20:00 CEST.
Attachments
Odfjell SE 1Q26 Report
Odfjell SE 1Q26 Presentation Of Quarterly Results
Odfjell SE 1Q26: Solid operational performance amid market uncertainty
6 maj, 20:00
Odfjell SE today reported its results for the first quarter of 2026. The quarter saw further escalation of geopolitical volatility and uncertainty across global markets. Still, Odfjell delivered a resilient financial result, maintained a strong safety performance, and continued to renew and expand the fleet.
Highlights - 1Q26
- Odfjell's strong safety performance continued amid a more challenging environment.
- Four vessels are currently inside the Strait of Hormuz, one owned and three time chartered. All crew members are safe, and the shore team remains in close contact with each vessel to ensure their continued security.
- Time charter earnings ended at USD 167 million, compared to USD 168 million in 4Q25.
- TCE per day was USD 27,232 versus USD 27,978 in 4Q25. Weaker earnings also reflect initial negative effects from the conflict in the Middle East Gulf, including increased ballasting, rerouting, and higher provisioning and insurance costs.
- EBIT of USD 46 million, compared to USD 53 million in 4Q25.
- Net result contribution from Odfjell Terminals of USD 2.3 million, versus USD 1.8 million in 4Q25.
- Net result of USD 32 million, compared to USD 38 million in the previous quarter. Net result adjusted for one-off items – mainly a USD 4.8 million capital gain from asset sales – amounted to USD 26 million, compared to USD 38 million in 4Q25.
- After quarter-end, Odfjell signed agreements to purchase four 40,000 dwt vessels to be constructed at the Kitanihon shipyard in Japan. Total investment amounts to around USD 290 million. Three newbuildings were delivered on time charter in 1Q26.
- The carbon intensity (AER) of Odfjell’s controlled fleet increased to 7.0 in 1Q26, from 6.8 in the previous quarter, due to seasonal effects, increased docking activity, and inefficiencies related to the conflict in the Middle East Gulf.
"The first quarter of 2026 saw further escalation of geopolitical uncertainty and volatility.
I am proud of our people on board and ashore, who expertly handled both safety, operational, and commercial challenges after the outbreak of the conflict. The situation remains unpredictable, and we continue to monitor developments closely while prioritizing the safety of our crew and vessels.
The increased tonne-miles caused by the disruption of the Strait of Hormuz has led to a surge in rates in most markets.
We expect the underlying net result in 2Q26 to be higher than in 1Q26," said CEO Harald Fotland.
Please see attached for the 1Q26 report and presentation. Tomorrow, Thursday, May 7, at 09:00 CET, Odfjell SE will present the results in a live webcast, followed by a Q&A session. Watch the presentation at https://www.odfjell.com/investor/webcast. The presentation will be held in English.
Contact
Nils Jørgen Selvik, VP Finance & IR
Tel: +47 920 39 718
E-mail: nils.jorgen.selvik@odfjell.com
About Us
The Odfjell Group is one of the leading players in the global market for seaborne transportation and storage of chemicals and other specialty bulk liquids. The Odfjell fleet comprises of approx. 70 ships, which trade both globally and regionally. The tank terminal division comprises four tank terminals, strategically located at select international shipping hubs. The Odfjell Group’s headquarters are in Bergen, Norway, and the Group has offices in 12 locations around the world. Odfjell employs around 2300 staff and posted annual gross revenue of USD 1,115 million in 2025. Read more on www.odfjell.com.
This information has been submitted pursuant to the Securities Trading Act § 5-12 and MAR. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-05-06 20:00 CEST.
Attachments
Odfjell SE 1Q26 Report
Odfjell SE 1Q26 Presentation Of Quarterly Results
Analys
Analys
Marknadsöversikt
1 DAG %
Senast
1 mån
