Odfjell Reports Strong Fourth Quarter Results
Odfjell SE has reported preliminary full-year and fourth-quarter 2025 results, delivering what the company calls a resilient financial result that demonstrates a robust business model.
“The fourth quarter concluded a year dominated by significant uncertainty and more challenging market conditions. The 2025 result is a testament to the strength of our business model, the breath of our contract portfolio, and the relentless focus on safety and efficiency across the organization. We expect the 1Q26 underlying net results to be slightly below 4Q25," said CEO Harald Fotland.
Odfjell made continued progress on sustainability, achieving a record low annual efficiency ratio (AER) of 6.8 for 2025 and launching the first operational green corridor for deep-sea shipping between Brazil and Europe.
Time charter earnings (TCE) ended at $168 million, compared to $173 million in 3Q25. TCE per day for the quarter was $27,978 versus $28,174 in 3Q25.
EBIT was $53 million compared to $59 million in 3Q25.
Net result contribution from Odfjell Terminals was $1.8 million versus $2.6 million in 3Q25.
A net result of $38 million was achieved in 4Q25, compared to $43 million the previous quarter. Net result adjusted for one-off items was $38 million compared to $42 million in 3Q25.
Odfjell launched the first operational green corridor for deep-sea shipping between Brazil and Europe, a self-funded initiative to accelerate adoption of sustainable biofuel.
Contracts concluded for two 35,000 dwt newbuildings to be delivered to Odfjell on long-term time charter in 2028 and 2029.
Highlights for FY2025
A resilient financial result of $155 million was delivered in 2025. The total dividend related to 2025 results will be $0.98 per share, which amounts to $78 million.
Odfjell ordered four newbuildings on long-term time charter in 2025, and also entered into a joint venture providing access to quality Japanese tonnage. In total, Odfjell has 22 newbuildings on order, of which 10 vessels will be delivered in 2026.
The controlled fleet achieved an AER of 6.8, down 4.2% from previous year.
