DNB bullish on chemical tankers as Odfjell profit tipped to hit $474m

DNB Markets believes most market signs are pointing to continued healthy earnings for chemical tankers this year.

The Norwegian investment bank said contract renewals should continue to be carried out at higher rates as the potential for clean tanker swing tonnage to move into chemical trades lessens.

DNB argued that domestic tanker owner and terminals operator Odfjell still has momentum behind it in negotiating contracts of affreightment (COAs), despite somewhat softer renewals than expected at the end of 2024.