Odfjell Exiting European Regional Trade
Odfjell today signed an agreement for the sale of Bow Balearia, Bow Bracaria and Bow Brasilia, all 5,800 dwt, built 1997/1998.
The vessels are the last remaining vessels within Odfjell’s trade in the European short sea market, and are being divested as a part of the Company’s cost-cutting and efficiency programme which includes exiting from unprofitable trades.
The sales will result in an accounting loss, but will have a positive effect on the group’s liquidity and profitability.
