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  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_odf_GrossProfitIncludingOperatingExpenses_label_en" xlink:label="lab_odf_GrossProfitIncludingOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Gross Profit Including Operating Expenses</link:label>
    <link:label id="lab_odf_GrossProfitIncludingOperatingExpenses_documentation_en" xlink:label="lab_odf_GrossProfitIncludingOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Gross Profit Including Operating Expenses</link:label>
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    <link:label id="lab_odf_RealizedDerivatesRelatedToInterestBearingDebt_label_en" xlink:label="lab_odf_RealizedDerivatesRelatedToInterestBearingDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Realized Derivates Related To Interest Bearing Debt</link:label>
    <link:label id="lab_odf_RealizedDerivatesRelatedToInterestBearingDebt_documentation_en" xlink:label="lab_odf_RealizedDerivatesRelatedToInterestBearingDebt" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Realized Derivates Related To Interest Bearing Debt</link:label>
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    <link:label id="lab_ifrs-full_FinanceIncomeCost_332b0bb9-d511-48c4-8bd2-8517f3008b6a_totalLabel_en" xlink:label="lab_ifrs-full_FinanceIncomeCost" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Finance income (cost)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinanceIncomeCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinanceIncomeCost"/>
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    <link:label id="lab_odf_OdfjellTerminalsAsiaHoldingsMember_documentation_en" xlink:label="lab_odf_OdfjellTerminalsAsiaHoldingsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Odfjell Terminals Asia Holdings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_odf_OdfjellTerminalsAsiaHoldingsMember" xlink:href="odf-2023-12-31.xsd#odf_OdfjellTerminalsAsiaHoldingsMember"/>
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    <link:label id="lab_odf_OtherOperatingExpense_label_en" xlink:label="lab_odf_OtherOperatingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Other operating expense</link:label>
    <link:label id="lab_odf_OtherOperatingExpense_documentation_en" xlink:label="lab_odf_OtherOperatingExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Other operating expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_odf_OtherOperatingExpense" xlink:href="odf-2023-12-31.xsd#odf_OtherOperatingExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_odf_OtherOperatingExpense" xlink:to="lab_odf_OtherOperatingExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_odf_AdjustmentForDepreciationImpairmentAndCapitalGainLossFixedAssets_label_en" xlink:label="lab_odf_AdjustmentForDepreciationImpairmentAndCapitalGainLossFixedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Adjustment For Depreciation, Impairment And Capital (Gain) Loss Fixed Assets</link:label>
    <link:label id="lab_odf_AdjustmentForDepreciationImpairmentAndCapitalGainLossFixedAssets_documentation_en" xlink:label="lab_odf_AdjustmentForDepreciationImpairmentAndCapitalGainLossFixedAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Adjustment For Depreciation, Impairment And Capital (Gain) Loss Fixed Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_odf_AdjustmentForDepreciationImpairmentAndCapitalGainLossFixedAssets" xlink:href="odf-2023-12-31.xsd#odf_AdjustmentForDepreciationImpairmentAndCapitalGainLossFixedAssets"/>
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    <link:label id="lab_odf_PoolDistribution_label_en" xlink:label="lab_odf_PoolDistribution" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Pool distribution</link:label>
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    <link:label id="lab_odf_AdjustmentsForDecreaseIncreaseInInventoryTradeDebtorsAndCreditors_label_en" xlink:label="lab_odf_AdjustmentsForDecreaseIncreaseInInventoryTradeDebtorsAndCreditors" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Adjustments For Decrease (Increase) In Inventory, Trade Debtors and Creditors</link:label>
    <link:label id="lab_odf_AdjustmentsForDecreaseIncreaseInInventoryTradeDebtorsAndCreditors_documentation_en" xlink:label="lab_odf_AdjustmentsForDecreaseIncreaseInInventoryTradeDebtorsAndCreditors" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Adjustments For Decrease (Increase) In Inventory, Trade Debtors and Creditors</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_odf_AdjustmentsForDecreaseIncreaseInInventoryTradeDebtorsAndCreditors" xlink:href="odf-2023-12-31.xsd#odf_AdjustmentsForDecreaseIncreaseInInventoryTradeDebtorsAndCreditors"/>
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    <link:label id="lab_odf_TimeCharterEarnings_c9f9e5ee-62b4-4368-8d29-49669c3c54f2_totalLabel_en" xlink:label="lab_odf_TimeCharterEarnings" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Time-charter Earnings</link:label>
    <link:label id="lab_odf_TimeCharterEarnings_label_en" xlink:label="lab_odf_TimeCharterEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Time-Charter Earnings</link:label>
    <link:label id="lab_odf_TimeCharterEarnings_documentation_en" xlink:label="lab_odf_TimeCharterEarnings" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Time-Charter Earnings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_odf_TimeCharterEarnings" xlink:href="odf-2023-12-31.xsd#odf_TimeCharterEarnings"/>
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    <link:label id="lab_odf_StatementLineItems_label_en" xlink:label="lab_odf_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Statement [Line Items]</link:label>
    <link:label id="lab_odf_StatementLineItems_documentation_en" xlink:label="lab_odf_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Statement</link:label>
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    <link:label id="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities_8b4934ce-0fe7-4224-a55d-8a53db4341e3_totalLabel_en" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Cash flows from (used in) operating activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_odf_OCIAssociatesAndJointVenturesMember_label_en" xlink:label="lab_odf_OCIAssociatesAndJointVenturesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">OCI Associates and Joint Ventures [Member]</link:label>
    <link:label id="lab_odf_OCIAssociatesAndJointVenturesMember_documentation_en" xlink:label="lab_odf_OCIAssociatesAndJointVenturesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">OCI Associates and Joint Ventures</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_odf_OCIAssociatesAndJointVenturesMember" xlink:href="odf-2023-12-31.xsd#odf_OCIAssociatesAndJointVenturesMember"/>
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    <link:label id="lab_ifrs-full_MiscellaneousOtherOperatingExpense_550a25e6-48bb-4d0a-9100-a13cd13f03ef_negatedLabel_en" xlink:label="lab_ifrs-full_MiscellaneousOtherOperatingExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Miscellaneous other operating expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_MiscellaneousOtherOperatingExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_MiscellaneousOtherOperatingExpense"/>
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    <link:label id="lab_odf_TimeCharterExpense_label_en" xlink:label="lab_odf_TimeCharterExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Time-Charter Expense</link:label>
    <link:label id="lab_odf_TimeCharterExpense_documentation_en" xlink:label="lab_odf_TimeCharterExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Time-Charter Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_odf_TimeCharterExpense" xlink:href="odf-2023-12-31.xsd#odf_TimeCharterExpense"/>
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    <link:label id="lab_odf_InterestIncome_label_en" xlink:label="lab_odf_InterestIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Interest income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_odf_InterestIncome" xlink:href="odf-2023-12-31.xsd#odf_InterestIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_odf_InterestIncome" xlink:to="lab_odf_InterestIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_odf_MiscellaneousOtherReservesSubtotalIncludingRetainedEarnings_label_en" xlink:label="lab_odf_MiscellaneousOtherReservesSubtotalIncludingRetainedEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Miscellaneous Other Reserves Subtotal Including Retained Earnings</link:label>
    <link:label id="lab_odf_MiscellaneousOtherReservesSubtotalIncludingRetainedEarnings_documentation_en" xlink:label="lab_odf_MiscellaneousOtherReservesSubtotalIncludingRetainedEarnings" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">MiscellaneousOtherReservesSubtotalIncludingRetainedEarnings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_odf_MiscellaneousOtherReservesSubtotalIncludingRetainedEarnings" xlink:href="odf-2023-12-31.xsd#odf_MiscellaneousOtherReservesSubtotalIncludingRetainedEarnings"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_odf_MiscellaneousOtherReservesSubtotalIncludingRetainedEarnings" xlink:to="lab_odf_MiscellaneousOtherReservesSubtotalIncludingRetainedEarnings" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities_92f8f079-7a40-4508-a2a7-314b476f8b85_totalLabel_en" xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Cash flows from (used in) financing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_odf_RepaymentOfInterestBearingDebtClassifiedAsFinancingActivities_label_en" xlink:label="lab_odf_RepaymentOfInterestBearingDebtClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Repayment Of Interest Bearing Debt Classified As Financing Activities</link:label>
    <link:label id="lab_odf_RepaymentOfInterestBearingDebtClassifiedAsFinancingActivities_documentation_en" xlink:label="lab_odf_RepaymentOfInterestBearingDebtClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Repayment Of Interest Bearing Debt Classified As Financing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_odf_RepaymentOfInterestBearingDebtClassifiedAsFinancingActivities" xlink:href="odf-2023-12-31.xsd#odf_RepaymentOfInterestBearingDebtClassifiedAsFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_odf_RepaymentOfInterestBearingDebtClassifiedAsFinancingActivities" xlink:to="lab_odf_RepaymentOfInterestBearingDebtClassifiedAsFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_odf_IncreaseInTheProportionOfOwnershipInterestInSubsidiary_label_en" xlink:label="lab_odf_IncreaseInTheProportionOfOwnershipInterestInSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Increase in the proportion of ownership interest in subsidiary</link:label>
    <link:label id="lab_odf_IncreaseInTheProportionOfOwnershipInterestInSubsidiary_documentation_en" xlink:label="lab_odf_IncreaseInTheProportionOfOwnershipInterestInSubsidiary" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Increase In The Proportion Of Ownership Interest In Subsidiary</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_odf_IncreaseInTheProportionOfOwnershipInterestInSubsidiary" xlink:href="odf-2023-12-31.xsd#odf_IncreaseInTheProportionOfOwnershipInterestInSubsidiary"/>
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    <link:label id="lab_odf_AdjustmentsForGainLossFromSaleOfShares_b3c740af-42e9-40af-ad62-636f1a0144f2_negatedLabel_en" xlink:label="lab_odf_AdjustmentsForGainLossFromSaleOfShares" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Adjustments For Gain (Loss) From Sale Of Shares</link:label>
    <link:label id="lab_odf_AdjustmentsForGainLossFromSaleOfShares_label_en" xlink:label="lab_odf_AdjustmentsForGainLossFromSaleOfShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Adjustments For Gain (Loss) From Sale Of Shares</link:label>
    <link:label id="lab_odf_AdjustmentsForGainLossFromSaleOfShares_documentation_en" xlink:label="lab_odf_AdjustmentsForGainLossFromSaleOfShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Adjustments For Gain (Loss) From Sale Of Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_odf_AdjustmentsForGainLossFromSaleOfShares" xlink:href="odf-2023-12-31.xsd#odf_AdjustmentsForGainLossFromSaleOfShares"/>
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