Odfjell has described its first quarter performance as “stable despite a depressed market” as it added another chemical tanker on a short-term charter.
The Norwegian owner posted net profit of $2m from January to March, compared to $24m a year ago.
Its chemical tankers contributed revenue of $213m, almost unchanged compared to $215m in the corresponding quarter.
Kristian Morch, chief executive of Odfjell, said: “We expect 2017 to remain challenging but our underlying operational performance is stable.
