Reporting on its Q3 results, Odfjell delivers a ‘solid performance in a volatile market’, with strong safety performance and three vessels delivered. Notably, it reports the net contribution from Odfjell Terminals to be $2.2 million (€2 million), against $1.8 million (1.6 million) in Q2 of 2026.
Odfjell Terminals operates and part-owns four terminals in the US (Houston, Texas; Charleston, South Carolina), Belgium (Antwerp), and Korea (Ulsan). Over all the sites, the company has a total storage capacity of 1.3 million m3 across 483 storage tanks. Odfjell Terminals handles a wide range of liquid products including chemicals, biofuels, mineral oils and food/feed-grade products.
Harald Fotland, CEO of Odfjell, comments: ‘I am pleased with our solid performance in a volatile market. We maintained strong time charter earnings while successfully deploying three additional vessels during the quarter. Global seaborne chemical volumes remain below pre-conflict levels, but vegoil and biofuel volumes compensate. This, combined with strengthening MR tanker earnings and therefore near-zero swing tonnage, supported chemical freight rates. Regular trading patterns continue to be disrupted. We expect the underlying net result in 4Q26 to be somewhat lower than in the third quarter.’
