Odfjell SE - 3rd Quarter Result 2009

October 28, 2009

• Time-charter results decreased 19% compared to second quarter
• EBITDA first nine months 2009 USD 149 million
• Solid results from tank terminals
• Weaker USD caused unrealized currency loss related to retroactive tax of USD 6 million third quarter 2009
• Equity ratio increased to 30.7%

The Odfjell Group is a leading participant in the global market of the seaborne transportation and storage of chemicals and other speciality bulk liquids. The Odfjell fleet exceeds 90 ships, trading both globally and regionally. The tank terminal division consists of eight fully or partially owned tank terminals and nine associated tank terminals strategically located. The Odfjell Group is headquarted in Bergen, Norway and has about 20 offices world wide. Odfjell has about 3 700 employees and an annual gross revenue of about USD 1,5 billion.

Odfjell