Norwegian chemical tanker owner Odfjell has revealed the signing for two additional newbuildings for delivery in the first half of 2026.
The move lifts the Oslo-listed company’s orderbook of 26,000 dwt stainless steel vessels to seven to be delivered on time charter between 2023 and 2026.
During the quarter, Odfjell took delivery of one newbuild on time charter, declared purchase options on two chartered-in vessels, the Pacific Endeavor renamed Bow Endeavor and Bow Capricorn and also sold the 2004-built Bow Santos for delivery at the end of May.
“Newbuilding activity continues to be limited, especially within our core segment of large stainless steel vessels. Available yard capacity remains low, with newbuilding prices high and lead time for construction of new vessels likely to be long. Volumes in the chemical tanker market remain steady, and with the further repricing of our COA portfolio and the tight supply situation, the outlook continues to look favorable,” Odfjell, with a fleet of around 70 ships, said in its Q1 earnings report, which revealed a net profit of $46.7m.
