ODFJELL SE - 4TH QUARTER RESULT 2009

5-02-2010

• Soft parcel tanker market with time-charter results 7% lower than third quarter
• Continued strong operating results from tank terminals
• Compensation from Sevmash of USD 43 million
• Pre-tax impairment charges of USD 14 million relating to Odfjell Terminals Maritiem and one ship planned for recycling
• EBITDA 2009 USD 182 million
• Net result 2009 USD 11 million

Please visit www.odfjell.no for detailed report of the 4th Quarter Result 2009.

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