Q4 2022 Odfjell SE Earnings Call Transcript
Good morning, everybody, and welcome to Odfjell's presentation of our fourth quarter results and our preliminary result for 2022. Today's agenda follows traditional pattern. I will present the highlights.
My colleague, Terje Iversen, CFO, will present the financials, and then I will take over and give you an operational review, and I will conclude this presentation with a market update and prospects going forward.
If we look at the highlights for the fourth quarter, we are happy to inform that the firming chemical tanker market that we saw in the third quarter continued through the fourth quarter and concluded a very strong year for Odfjell.
Our time charter earnings increased to USD 187 million, up from USD 171 million in the previous quarter. We delivered an EBIT of USD 73 million compared to USD 71 million in the third quarter. The net result was USD 50 million, same as previous quarter. But if we adjust for one-offs, then the USD 50 million compares to USD 46 million in the third quarter.
We also saw contract rates increasing by
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