Odfjell SE 1Q19: Chemical tanker rates continued to improve in the first quarter of 2019

Odfjell SE today reported its results for the first quarter of 2019. The results reflect an improving chemical tanker spot market and stable underlying results from Odfjell Terminals. Highlights for the first quarter of 2019:Chemical tanker spot rates improved compared to previous quarter. Spot rates improved by 16% in main trade lanes compared to previous quarter. This was partly offset by fewer revenue days compared to 4Q18.Contract coverage reduced to 50% compared to 59% in 4Q18...

Bergen, 08/05/2019 (informazione.news - comunicati stampa - trasporti)

Highlights for the first quarter of 2019:

"The chemical tanker markets improved in the first quarter. We expect this trend to continue as a result of the strong fundamentals in our markets and a firming tanker market in general. We decided not to aggressively pursue or extend contracts at the historically low markets at the end of 2018. This reduces our COA portfolio, but also increases our exposure in the firming market. We expect to continue improving our performance in the coming quarter", said Kristian Mørch, CEO of Odfjell SE.

Please see attached for 1Q19 Report and Presentation. In connection with the quarterly release, Odfjell SE will present the results in a live audiocast at 09:00 CET today, followed by a Q&A session. Follow the audiocast at Odfjell.com or HegnarTV.

To join the Q&A session, please click here or call:

Norway: +47 2100 2613
UK: +44 (0) 330 336 9104
USA: +1 929 477 0443
Participant passcode: 047598

The presentation is held in English.

IR contact:
Bjørn Kristian Røed
Manager Investor Relations & Research
Tel: + 47 55 27 47 33
E-mail: bkr@odfjell.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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