Brief: Odfjell: Sale Of Last Short-Sea Vessels

Odfjell SE

02/11/2021 12:05

Nov 2 (Reuters) - Odfjell SE  ODF.OL :
    * ODFJELL SE: SALE OF LAST SHORT-SEA VESSELS
    * HAS ENTERED INTO A SALES AGREEMENT FOR LAST THREE 9,000
DWT
SHORT-SEA VESSELS THAT HAVE OPERATED IN COMPANY'S REGIONAL TRADE
IN ASIA.
    * SALE MARKS AN EXIT FROM ODFJELL'S SHORT-SEA REGIONAL TRADE
IN
ASIA AS REMAINING VESSEL ON A TIMECHARTER TO ODFJELL WILL ALSO
BE RE-DELIVERED TO ITS OWNERS IN JANUARY 2022
    * TRANSACTION WILL RESULT IN A USD 21 MILLION ONE TIME
IMPAIRMENT
IN ODFJELL'S 3Q21 RESULTS AS VESSELS ARE RE-CLASSIFIED AS ASSETS
HELD FOR SALE.
    * TRANSACTION WILL CONTRIBUTE POSITIVELY TO ODFJELL'S
RESULTS
GOING FORWARD.
    * CLOSING AND DELIVERY IS SCHEDULED TO JANUARY/FEBRUARY 2022
    * ODFJELL SE - NET CASH PROCEEDS AFTER REPAYMENT OF LOANS
AND
COMMISSION IS APPROXIMATELY USD 1 MILLION.

Source text for Eikon:  ID:nWkrc1LlrW 
Further company coverage:  ODF.OL 

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