Investor Presentaiton
Odfjell at a glance
Odfjell Tankers
Odfjell Terminals
Capital Allocation
Summary
...Where a key target is to de-lever our balance sheet and reduce our daily break-
even levels to ensure a positive cash flow in any market cycle...
1 400
1 200
1 000
Leverage
target
range
USD 750 USD 900 mill range
800
1 256
600
1 081
Current
repayment
schedule
933
400
791
200
-200
-400
2020
2021
Repayment
Planned vessel financing
2022
Ending balance year-end
Long-term target range
2023
18
Limited refinancing needs going forward
Current schedule implies debt reductions of
USD 465 mill by 2023 to USD 791 mill
Break-even
Together with more favorable amortisation
profiles, this will lower our break-even levels to
a target range of USD 18,000- USD19,500 per
dayView entire presentation