INVESTMENT Odfjell has an ambitious growth strategy for its tank terminal business, developing a new facility in Charleston while expanding in Houston and working on several possible new projects in China that could add another 2m m3 of tank storage capacity to its portfolio
Odfjell SE has reported EBITDA of $27m on revenues of $291m for the first quarter 2013. Both figures are down on last year but show some improvement from the fourth quarter.
EXPANSION The annual HCB roundup of global terminal expansion and construction projects sees refinery closures continuing to cause a structural shift in terminal demand, while nervousness over the future rate of economic recovery is keeping a lid on optimism
MERGERS & ACQUISITIONS It has been another year of switching, swapping, investing and divesting storage terminal assets, with more money pouring in from private investors
MARKETS Gas shipping has been one of the star performers in the maritime sector in recent years. But not every LPG tanker operator has been laughing all the way to the bank, as this review of recent financial results indicates
Odfjell has reported EBITDA of $17m for the fourth quarter 2012, an improvement on the prior period but still well down on the $31m recorded a year earlier.
Odfjell’s terminal business achieved EBITDA of $5m from revenue of $34m in the fourth quarter 2012, well below the equivalent figures from a year earlier.
MARKETS This time last year it was all doom and gloom for chemical tanker operators. This year it’s still doom and gloom, just less of it, although there is still some concern at the pace at which costs are rising
