ODFJELL 25000 DWT stainless steel ship delivered
ODFJELL, the owner of Norwegian chemical ship, recently released unaudited financial statements for the first quarter of 2022. According to the financial report, ODFJELL achieved a total revenue of US $292 million in the first quarter of this year, a year-on-year increase of 20.2%.
As of May 12, 2022, the company owned and operated 86 chemical ships. Among them, the first of the company’s four 25000 DWT stainless steel new ships is expected to be delivered in late September, and the rest will be delivered every three months. In addition, the company also sold a ship for recycling, which was delivered in mid April. In terms of the market environment, the company expects the growth of chemical ships to remain stable in the next three years, reaching an average of 1% per year.
At the same time, the rise of steel prices has promoted the growth of new shipbuilding prices and dismantling prices. The volume of ship dismantling has exceeded the delivery volume, and the scale of the global stainless steel fleet has been shrinking. The increasingly severe regulatory environment will further limit the growth of stainless steel supply in the coming years.