Odfjell Se B (ODJBF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning to all of you and welcome to Odfjell's presentation of our second quarter results. We will follow an agenda which should be well known to all of you. I will take you through the highlights and then my colleague Terje Iversen will present our financial performance. And finally, I will conclude this presentation with an operational review, market update and the prospects going forward. So if we then turn to the highlights, we start with safety. We have seen a very volatile environment this quarter, but I'm still very satisfied to report that our strong safety performance continued throughout the quarter. I'm equally happy to say that our four Odfjell vessels that were trapped inside the Middle East Gulf have all safely left the region. And this is due to a fantastic cooperation between the people on board our ships and also on shore on different locations. We are presently not considering to send vessels through the Strait of Hormuz. If we then turn to our financial performance, we delivered time charter earnings of 195 million US dollars. This is up from 167 million US dollars in the previous quarter. Our average time charter earnings per day was 29,486. This is also up from 27,232 in the first quarter. And this reflects the stronger spot market that we observed during the quarter. Our EBIT was 69 million. This compares to 46 million. The net result contribution from Odfjell Terminals was 1.8, which compares to 2.3 in the previous quarter. And summarized, this concludes a net result of 54 million US dollars in the second quarter compared to 32 million in the previous quarter. If we adjust for one of items, the net result was 56 million compared to 26 million in the first quarter. Other important items are carbon intensity, the so-called AER, was 6.9 in th...