Odfjell exits European short sea market with disposals


Odfjell has agreed to sell the last three of its vessels serving the European short sea market.

The sale of the 5,800 dwt,1997-1998-built Bow Balearia, Bow Bracaria and Bow Brasilia will be an accounting loss, but with a positive effect on profitability for the company.

The move is part of Odfjell's stated aim of exiting unprofitable trades as part of its efficiency and cost-cutting drive.

Source from : Seatrade Global