Quarterly December 2011 - Odfjell

ODFJELL 

DECEMBER 2011 

www.odfjell.com

Odfjell Quarterly 

EDITOR: Margrethe Gudbrandsen 

EDITORIAL COMMITEE: 

Ellen Skagen, Brit A. Bennett, Matt Duke, Geirmund 

Drivenes, Jan Peder Arnesen, Theo Kruithof 

CORRESPONDENTS: 

SINGAPORE: Samuel Goh Kee Peng 

HOUSTON: Rebecca Snyder 

PHILIPPINES: Jennifer Franco 

Deadline next issue: 

10 March 2012 

Design: Bruno Blanchard, Cox 

Graphic production: Jannicke Gildernes, Cox 

Print: Scanner Grafisk AS 

Cover: Ole Magnus Aasland and Martin Eide on Bow Spring. 

Photo by Tanja de Maesschalk. 

Photo this page: 

Photo by: Thomas Kohnle. 

Texts submitted to Quarterly may be subject to editorial adjustments. 

Highlights 

Installation of Mewis Duct on vessels 04 

All vessels going ‘on-line’ 06 

Re-imagine Odfjell ICT to contribute 

to a sustainable business 08 

Chairman´s Message 10 

Landmarks 

Carbon Disclosure Project 11 

Third quarter results 11 

New ICT platform for Odfjell Tankers 12 

Naming ceremony M/T Flumar Brasil 14 

Portrait 

Terje Iversen 15 

Briefings 

Clean, restored and ready! 16 

Triple ISO certification at OOT 17 

Successful CDI-T audit 17 

CONTENTS 

Dan Odfjell’s visit to Odfjell Terminals Charleston 18 

Sharing HSE experience 18 

Experiencing the Seven Seas 19 

The Odfjell and Lindsay Goldberg Joint Venture 21 

Sustainable social innovation 22 

QHSE on the agenda 

‘Smart’ problem solving 23 

Sea and shore 

Education through play and learning 24 

Odfjell Makana takes on South African cadets 24 

Ship model presented to PotashCorp 26 

Norwegian Shipowners’ Association visit 

- ‘on shore and on board’ 26 

Personnel 27 

Fleet and terminals 30 

Offices and addresses 32

ODFJELL 

QUARTERLY 

magazine 

Jan A. Hammer 

Dear Colleagues, 

Our Board meetings normally take place at our office 

here in Bergen. From time to time however, they are 

scheduled to one of our key locations overseas, the 

purpose being for the Board members to get a closer 

feeling and understanding of our activities abroad. For 

this year’s November meeting therefore, our Board went 

all the way to South America. The Board meeting took 

place at our offices in Sao Paulo. In addition, the trip also 

included meetings with key customers and partners, as 

well as a full day visit to the port of Santos, the largest 

and most congested port in South America. Here, the 

Board were showed around at “our” terminals and were 

also presented plans for future development etc. Santos 

is a very busy port, and not unexpectedly, we had ships 

there at the time of our visit. Without any pre-warning, 

we managed to get on board the Bow Fagus for a very 

quick tour, by nature almost a random inspection. The 

ship had just berthed alongside at Barnabe Island to 

discharge two parcels at Granel Quimica. She appeared 

very well maintained with excellent housekeeping and 

is obviously managed with style and dedication. Bow 

Fagus is 16 years old, but almost looked brand new. My 

thanks and appreciations therefore go herewith to the 

officers and crew on board. As our Company’s CEO, it 

made me feel proud. 

With the Board meeting in Sao Paulo, I used the opportunity 

to also visit Buenos Aires and Santiago. In Buenos 

Aires, managers and key marketing personnel for and 

in South America were gathered for the Annual APLA 

convention. I knew beforehand that we have a strong 

team and presence in the region, but this proved to 

be more and better than I had expected. I enjoyed 

meeting you all, and left convinced that we will be able 

to maintain our strong participation in the emerging 

markets in this part of the world. 

During recent months we have had two Officers’ 

Conferences and last week a Captain and Shore 

Management Workshop, all with the same theme: Our 

Safety Culture. I think we have got this onto a good 

track since most attendants to the conferences seem 

to understand and appreciate that safety starts with us 

as leaders and role models. We can and shall “preach”, 

teach and give instructions, but most important is that 

we “walk the talk” i.e. lead by example. Our plans for 

2012 therefore, entail a stronger focus on leadership 

and a number of aspects associated thereto. 

From a QHSE point of view, we have made progress 

this year. Our performance is measured by a number 

of Key Performance Indicators, of which the majority 

now seem to end better than last year. Most encouraging 

in this respect is that we have seen less accidents with 

personnel injuries. But we also had a serious incident 

at our terminal in Rotterdam recently. It came as the 

results of an unintended release of butane in connection 

with a blending operation, as well as the discovery 

shortly thereafter of small leakages of benzene vapour 

from some of our tank roofs. The incidents created a 

lot of negative publicity, both in newspapers, radio and 

TV, not due primarily to the severity, but because we 

failed to timely and properly report the butane release 

to the authorities. A lot more can of course be said 

and explained hereto. For me however, the important 

aspect and the lesson learned, which I want you all 

to make note of, is that we shall always be open and 

forthcoming about these things, and proactively report 

non-conformances. 

The theme of this Quarterly is about how we are trying 

to navigating through the rough global waters as the 

outlook for economic growth is adjusted downwards. 

In different articles we share information about some of 

our efforts to better cope with these challenges and at 

the same time ensure our business remains sustainable. 

I hope you find it interesting. 

At the time of writing, 2011 is about to go into history. It 

has been an exciting and hectic year although not with 

a recovery of the chemical tanker market as we to some 

extent had hoped. But we have bought and sold ships 

and shareholding terminals, and are relatively seen, 

favourably positioned for the years to come – with or 

without a recovery. The sale of ships and terminals could 

not have taken place if it had not been for solid business 

development, maintenance and operations over many 

years. It proves in a way that our business model makes 

sense, and of course, that we have a number of skilled, 

dedicated and hard working employees out there. 

With that I want to thank you all for your hard work and 

contributions this year. I hope 2012 will turn out more 

favourably from an economical point of view, and thus 

become more rewarding for all of us. In the meantime 

though, I wish you all a pleasant Holiday Season and 

a Happy New Year. 

NR.04/ 11 

3 

odfjell quarterly magazine

highlights 

ODFJELL QUARTERLY magazine 

Installation of Mewis Duct on vessels 

– Significant reduction of emis 

By Torleif Solheim 

4 

Water flow 

Implementation of new technology to 

improve the propeller efficiency and 

thereby reduce our fuel consumption 

and emissions is under way. Installing 

and testing of the Becker Mewis Duct® 

marine system indicate a considerable 

saving potential for our fleet. 

The Mewis Duct® is a novel power-saving 

device which has been developed for full-form 

slower ships that allows either a significant 

fuel saving at a given speed or alternatively 

for the vessel to travel faster at a given 

power level. It consists of two strong fixed 

elements mounted on the vessel: a duct 

positioned ahead of the propeller together 

with an integrated fin system within. The duct 

straightens and accelerates the hull wake into 

the propeller and also produces a net ahead 

thrust. The fin system provides a pre-swirl 

to the ship wake which reduces losses in the 

propeller slipstream, resulting in an increase 

in propeller thrust at given propulsive power. 

Both effects contribute to each other. 

Testing 

Manufacturing of the ship model, Mewis Duct 

model and model testing of the ship have 

been done at Sintef Marintek Trondheim. 

Parts for the Mewis Duct were printed on a 

3D printer and have a high precision. The 

parts were tested with different angles and 

numbers in order to optimise the flow and 

thrust for the propeller. The hull was partly 

made of solid foam and epoxy, and designed 

in a milling machine following the ship's 

original drawings. 

The tests were done at several speeds, load 

conditions and at towing and propulsion 

mode. Running tests have shown a high 

potential for saving energy. Tests for our 

Kværner fleet documented between 7 to 

8 % energy saving at ballast and full load. 

For our Poland B588-III series, tank tests 

indicate 11% energy saving! As a result 

of reduced engine load, the cylinder oil 

Installation layout 

consumption will be reduced as well. 

Another advantage gaining with use of the 

duct is that the propeller vibration can be 

reduced by up to 80% and steering at low 

speed will improve for some vessels. 

Significant reduction of emissions 

The Odfjell fleet has several ships of 

different size and layout and the Mewis 

Duct can be relevant for installation on 

a number of ships. Installations will also 

be environmentally beneficial with the 

significant potential of reducing NOx, CO 2 

and SOx emissions. 

Installation of Mewis Duct on 

Bow Sea during drydocking at 

Remontowa shipyard 

www.odfjell.com

sions and use of fuel 

NR.04/ 11 

5 

Kværner hull at 16 knots design waterline 

Verified calculations 

Calculations were verified by model 

tests at Sintef Marintek in Trondheim in 

October and November 2010 for the Kværner 

and Poland B-588 ship series. On site installation 

at reference ship Bow Flora and Bow 

Sea was completed earlier this year. 

Results to date clearly indicate lower fuel 

consumption and more speed. The live tests 

will continue and are being monitored closely 

by the ship’s reporting system. 

The scope 

The scope of the contract covers all sizes of 

Odfjell vessels and defines a progress split in 

different stages: 

• Preparation of supplied information 

and data of the ship 

• Creation of a digital ship hull, propeller 

and Mewis Duct 

• CFD - analysis of the Mewis Duct 

(Computational Fluid Dynamics) 

• Manufacturing of the ship model 

and the Mewis Duct model 

• Model testing of the ship including 

Mewis Duct 

Extract of model test result report of the Mewis Duct performance 

V PB Fuel Consumption Emission 

[kn] [kW] [mt/24h] [mt/year] [mt/year] 

NOx CO 2 

Ship without 

Mewis Duct® 16,1 9.300 37,3 8.200 572 25.994 

Ship with 

Mewis Duct® 16,1 8.740 34,9 7.670 535 24.314 

Economies Cons. 6,0% 6,5% 6,5% ~6,0% ~6,5 

Emission calculation 


highlights 


What will internet 

access on board 

mean to you? 

Maximo Jr. F, Escalante, 

Bosun Bow Cecil 

Internet will make social 

communication networking 

possible and I will be 

able to keep in touch with 

my family. 

6 

All vessels going ‘on-line’ 

By Gunnar Eide 

Over the next three years, all Odfjell managed 

vessels will be equipped with internet access 

by installation of the VSAT satcom system on 

board. We have been testing several internet 

access systems on board five vessels for some 

time in order to gain experience with the different 

VSAT technologies from different suppliers and to 

integrate internet access on board with existing 

ICT systems. 

More value added services 

After evaluating several tenders from market-leading 

VSAT providers, we decided to implement Marlinks’ 

proposal WaveCall. Also included in their proposal 

were several ‘value adding’ services in addition to 

internet access, like web filtering, voice over IP, private 

networking between ship and office and a secure 

remote access to the vessel for remote support. The 

solution requires two new antennas to be installed, 

where one antenna will act as a backup system to 

be used in areas where there is no VSAT coverage 

yet. Older satellite communication systems will be 

replaced by the new systems. 

The solution requires two new antennas to be installed 

Optimisation of lines 

Since internet access at sea is satellite based, the 

speed of the link will not be as fast as at home or in the 

office, but both Marlink and Odfjell ICT department 

have developed technical solutions to optimise the 

line as much as possible in order to make the user 

experience better. 

In addition to internet access, the vessels will get IP 

based phones with local Norwegian or Singaporean 

phone numbers. The “voice-over IP” service offers 

a much better voice quality compared to regular 

satellite phone calls and is also cheaper to use. 

Maximum 36 months 

A fixed monthly fee will cover the costs for the required 

equipment, the airtime for the Marlink WaveCall 

solution as well as the value added services. The fixed 

monthly price of the communication package justifies 

roll out of this communication solution to all vessels 

within a maximum period of 36 months. 

Daison B. Panopio, 

Messman Bow Cecil 

It will be nice having internet 

on board. That way I 

can keep in touch with my 

family whenever I want to, 

even when we are at sea. 

It is a helpful system the 

Company is giving to us. 

Bård Lysen, 

1st Eng. Bow Cecil 

It will be nice to be able to 

read your local newspaper 

as well as your email, and 

keep in touch with your 

friends and family. 

www.odfjell.com

NR.04/ 11 

7 

Picking the low hanging fruits: 

– New hull cleaning and propeller polishing schemes 

give important fuel and emission savings 

By Svend Foyn-Bruun and Erik Hjortland 

Equipment for hull cleaning 

The recent trial of a new hull cleaning and 

propeller polishing scheme on a ship has 

showed very promising results. The fuel efficiency 

increased significantly compared to 

previous measurements. 

Although hull cleaning and propeller 

polishing are normal part of ordinary drydocking 

work, the remarkable result may 

lead to a new practice by which all our ships, 

both time chartered and owned, will be more 

closely monitored and the cleaning intervals 

shortened. 

Fuel and emission savings 

We estimate that on this particular trial ship, 

the new and advanced hull cleaning and 

propeller polishing scheme will reduce the 

CO 2 

emissions by 5,000 mt in one year. 

It would be hard to make an individual underwater 

cleaning programme for each ship, but 

a scheme that introduces a shorter interval 

compared to todays practice combined with 

a closer performance evaluation seem to be 

optimal both from an environmental and a 

financial viewpoint. 

New techniques 

The underwater hull cleaning and propeller 

techniques have improved over the last 

couple of years. Today it is possible to carry 

out the cleaning during a normal port stay 

without arranging for the vessel to be off hire. 

The ‘robotized’ hull cleaning may take place 

at anchorage or at cargo berths without any 

significant release of antifouling residues. 

The whole operation can be completed within 

12 hours. The result is a significant reduction 

of consumption and emissions of CO 2 

, NOx 

and SOx. 


highlights 


Re-imagine Odfjell ICT 

to contribute to a 

sustainable business 

By Matt Duke 

8 

Making the business sustainable is an 

area that IT is being called upon not only in 

Odfjell, but also in many other enterprises 

around the world. 

The world is changing, and with that change 

the reliance on technology and computers 

has become pivotal. If one should consider 

your work, and how computers are used, 

how much could you achieve without reliable, 

functional and secure IT systems? For 

better or worse, most of us are directly or 

indirectly reliant on IT systems. In Odfjell 

reliable, predictable systems are not enough. 

The Company insists that we will invest in 

world class technology that will give us a 

competitive edge, and the best possibility to 

deliver safe, efficient and desirable services to 

our customers. In other words, we must invest 

in the technology that is best suited to our 

business needs, and we must implement this 

with agility, whilst avoiding a negative impact 

on the availability of the tools already in use. 

This gives ICT both a responsibility for 

running our Company systems and also for 

contributing to the business ideas that ultimately 

can enable growth in the enterprise, 

and a platform for operational excellence. 

Additionally ICT must keep abreast of new 

technologies and trends like social media, 

consumerisation of IT, mobility and cloud 

computing. All of which can have a direct 

impact on our way of working, both with 

our numerous partners and customers, and 

also internally within our global enterprise. 

Odfjell Corporate ICT relish this opportunity 

to play our part in delivering better customer 

satisfaction and ultimately improved results, 

and the entire ICT department is starting a 

period of reinvigoration and alignment in 

order to best meet these needs. 

Certain foundations are essential for a 

complex business like Odfjell. It is a key 

philosophy for our Company that technology 

standardization breeds increased agility for 

business growth. We are investing heavily 

in our terminal IT systems, based on SAP 

Netweaver, and we are doing a similar process 

for our shipping solutions, based on IMOS 

7 from Veson Nautical. These platforms are 

solid foundations for continued growth, 

but ICT has the duty to support the business 

leveraging these investments in order 

to improve our business profitability. The 

business has the duty to take real ownership 

of these systems and ultimately the success 

of any such investments will be directly tied 

to the amount of effort and ownership our 

colleagues invest in shaping the use and 

development of these tools. Odfjell ICT will 

provide the “glue” in connecting our business, 

but our business specialists and experienced 

shipping/terminal employees ultimately 

know the recipe for the “special sauce” that 

makes Odfjell unique. We must ensure such 

competency and ideas are represented in 

our IT solutions, and the information these 

present back to decision makers in our diverse 

and complex business is equally crucial for 

success. 

The future for ICT in the challenging economic 

times ahead has never been more 

crucial. We must ensure that our focus is 

not only on the building blocks of delivering 

business improvement projects, but also in 

ensuring that the information these solutions 

contain is available at the strategic level to our 

leadership in real time. Therefore, using the 

“ICT Steering Committee” and prioritization 

of projects wisely will form a key success factor 

for our business moving forwards. 

Rather than just focusing on the “mega 

projects” of new terminal and shipping 

production systems, ICT will now be challenged 

to consider the economic impact of 

all proposed business improvement projects, 

and how these directly relate to the overall 

business strategy set down by our CEO. We 

must ensure that the best and most flexible 

technology is implemented to allow our colleagues 

a competitive and flexible working 

day. All potential projects should be reviewed 

against the same backdrop of a challenging 

economic environment and need to invest 

wisely. 

The reinvigoration of ICT to contribute to 

a sustainable business model will in many 

ways continue revolve around the delivery of 

predictable, reliable and appropriate business 

tools, however where we see the need for a 

paradigm change, is in the amount of focus 

and energy we give on the delivery and presentation 

of business information and trends, 

and our continued learning and understanding 

of the business we work in. Our vision is 

that IT will play an important and strategic 

part in the overall strategy of the business to 

achieve financial sustainability in challenging 

and uncertain times ahead. The success of 

this vision will therefore be directly tied to the 

ability of ICT to successfully understand and 

communicate with all parts of the business, 

to ensure key stakeholders have access to the 

information and tools they need to perform 

their work in an enjoyable, productive and 

highly competitive manner, and the pathways 

for creative suggestions to be lifted to correct 

level for review. In forthcoming issues 

of Quarterly we will look closer at many of 

these aspects. 

Odfjell ICT will provide the 

“glue” in connecting our 

business, but our business 

specialists and experienced 

shipping and terminal 

employees ultimately know 

the recipe for the “special 

sauce” that make 

Odfjell unique 

www.odfjell.com

NR.04/ 11 

9 


chairman’s message 


10 

Laurence W. Odfjell 

‘We are living in interesting times,’ my grandfather 

Bernt Daniel Odfjell was prone to say 

when the company was facing tough markets 

or uncertainty. We are heading toward the 

end of another challenging year and this is an 

opportune moment to reflect upon the macro 

picture and how we have been positioning 

ourselves for the future. Outlook for sustainable 

growth in the world economy is fraught 

with uncertainty in light of the continuously 

developing twists and turns of the sovereign 

debt crisis in Europe (and the US), the seeming 

shift of world economic power, and the 

political unrest in large parts of the world. 

As a global provider of transportation and 

storage services, our arena is global trade, 

so any impact on the demand side will only 

prolong the adverse effects we have been 

suffering from the supply overhang of ships. 

Many argue that the global economy never 

really exited the crisis of 2008/09. Of course, 

there was a seeming rebound in certain sectors 

during 2010, but no structural solutions 

to the fundamental challenges of an emerging 

new economic order (or call it reality) have 

yet been put forth. As the debt crisis has (re) 

entered center stage in Europe - social unrest 

is increasing. This unrest will probably only 

grow as unemployment levels in many mature 

economies are already at worryingly high 

levels. Some argue that the western world 

are at the end of a mega trend of continuous 

growth in prosperity since World War II. If 

so, how to adjust expectations? Taking away 

privileges or benefits is never popular and 

is something politicians only will do as a 

last resort. There should be no doubt that 

austerity measures in the public sector will 

hurt. They will also increasingly impact the 

private sector and the so-called ‘Main Street’ 

economy, usually a lagging but nevertheless 

predictable effect. One emerging threat is that 

politicians revert to protectionist measures in 

an effort to protect or promote employment 

at home, thus responding to the demands 

of their electorate. Of course, protectionism 

would lead to reduced global trade, thus 

having a direct impact on the demand for 

our services. 

With projections of sluggish growth at best in 

the OECD countries, one would have hoped 

that international bodies would lighten 

the ever increasing load of new regulations 

coming into force. In the long view, certainly 

many of the initiatives by the EU, the US, 

the IMO, etc., will arguably safeguard public 

interests. However, all these initiatives come 

with short term costs of implementation and 

compliance, something that appears not to 

be fully appreciated by eager regulators in 

this challenging business environment. Who 

will foot the bill? Conventional wisdom would 

say that this will ultimately be paid by all of 

us (so a ‘tax’ on society). Can we really afford 

all of this now? 

In shipping, the anemic growth of demand 

combined with oversupply of ships in the 

many sectors has produced a deep crisis. Trade 

journals are filled with news of struggling 

operators and bankruptcies. Counterparty 

risk for our charterers is increasing. Are ships 

being maintained to safe standards when the 

owners are bleeding cash? Or what is the risk 

of an operator’s ships being arrested in port? 

Or performing reliably according to contract 

of affreightment? 

Of course, in the backdrop of the debt 

crisis (which easily can translate into a full 

blown banking crisis), financing of shipping 

activities will become an increasingly 

expensive and challenging proposition for 

many operators. Needless to say, banks are 

essential participants in our capital intensive 

business. Even before the crisis, banks had a 

large exposure to shipping by financing the 

lion’s share of newbuildings, etc. Now with 

equity being wiped away after years of losses, 

many banks have by default become large 

ship-owners, something which is tenable 

for only a relatively short period. The issue 

is often more complex because of how the 

industry now often relies on groups of lenders 

for so-called syndicated loans. The result is a 

group of lenders (complicated ever further if 

there are bondholders in the mix), becoming 

ship-owners with potentially very different 

agendas or requirements. In the absence of 

a ‘group will’ or ability to write off losses, 

companies are artificially kept afloat, thus 

possibly also delaying any recovery in the 

shipping markets. And now with counterparty 

risk reemerging with gale force within the 

banking world (just note how shares in banks 

have fared over the last three months), how 

to syndicate new loans in an environment 

where you cannot readily trust your typical 

fellow group lenders? It is certainly reassuring 

for us not to have uncovered investment 

commitments in this scenario. 

As the global financial crisis evolves, we start 

seeing signs that ‘the invisible hand of the 

market’ (as described by Adam Smith) could 

increasingly be replaced by protectionism in 

the form of duties on imported goods. Never 

good for trade. Never good for those of us who 

live by transportation and related services. 

And what is the worst part of this? There are 

no quick fixes in sight to ensure sustainable 

global economic growth. Our hopes are tied to 

the fortunes of the increasingly important role 

of the emerging markets, but these are also 

suffering increasing pains of modernization. 

More specifically to our particular shipping 

business, the health of our chemical tanker 

industry is weak after three years of freight 

rates at loss generating levels. We continue 

to face unprecedented challenges due to 

the inefficiencies of our trade, exacerbated 

by lacking shore infrastructure, high (and 

volatile) fuel costs, increasingly complex vetting 

regimes and the continued onslaught of 

regulations. 

A perfect storm is the joining of many adverse 

forces. Such a storm has been the backdrop 

for our activities in 2009, 2010, 2011 and 

probably will be for 2012 and onwards. Last 

year, we announced we would have to take 

measures to secure our business in face of 

turbulent waters. Our focus was to ensure 

control of our own fate, by taking measures 

to shore up our balance sheet, particularly to 

build cash and reduce forward commitments. 

In the course of a relatively short period, we 

have actually turned around our position 

(albeit still producing losses in the underlying 

operations of shipping). We have built up a 

war chest to survive a possible delay in the 

recovery of our markets. We have also entered 

into new partnerships that will allow us to 

invest in some of the many opportunities 

that appear on our radar screen. All this has 

been the fruit of dedication and hard work 

by many of you. I would therefore like to take 

this opportunity to recognize and express 

gratitude for the extraordinary efforts of many 

of you in these processes. 

In light of an outlook clouded by uncertainty 

and therefore lacking visibility, let me end 

this rather somber message by reassuring 

you that we are now better fit for fight. From 

a position of certain vulnerability at the end of 

last year, we are now, a year later, in a position 

of relative strength amongst our peers. Our 

main financing is secured, we have plenty of 

cash in our accounts and, importantly, we 

have not taken shortcuts affecting safety in 

our operations. We are, indeed, prepared for 

continued interesting times ahead. 

Stay safe. 

www.odfjell.com

LANDMARKS 


Carbon Disclosure Project - Nordic Summary 2011 

By Bjørn Ydse 

Carbon Disclosure Project (CDP) is the 

leading international not-for-profit 

organisation focusing on response to 

climate change. It secures the disclosure 

of climate change related data from major 

global corporations on behalf of 551 of the 

world’s leading investment institutions 

with more than USD 71 trillion in assets 

under management. 

Odfjell reported to CDP in May 2011. The 

largest shipping respondents were A. P. 

Moller – Maersk, Frontline, D/S Norden 

and Odfjell SE. 

Our CDP score was 65, which is considered 

a good score since this was our first year 

of a full reporting. Maximum score is 100 

and the average 2010 figures were 64 for 

the Nordic companies. 

Facts from Odfjell’s report: 

• Limited to our shipping business and the main office in Bergen. 

• The survey delivered in 2011 is based on 2010 figures. 

• Reported figures are only related to the emissions of CO 2 

. 

• CO 2 

emissions: 

- Scope 1 

1, 841,000 tonnes (from sources owned or controlled by Odfjell). 

- Scope 2 

487 tonnes (from purchased electricity and heating at the office in Bergen) 

- Scope 3 

7,880 tonnes (from business travel (incl. seafarers), 

waste and employees commuting to the office in Bergen). 

• KPIs emissions of CO 2 

related to tonnes miles, revenue and employees have 

been reduced over the last years. 

NR.04/ 11 

11 

Third quarter results: 

Moderate improvements in earnings 

By Margrethe Gudbrandsen 

Sale of 49% shares in tank terminals in Rotterdam, 

Houston and Charleston, solid tank terminal earnings 

and marginally increased time charter results 

gave a third quarter net result of USD 261 million 

for Odfjell SE. 

Earnings before interest, tax, depreciation and amortisation 

(EBITDA) the first nine months of 2011 was 

USD 82 million, compared to USD 66 million for the 

first nine months in 2010. The operating result (EBIT) 

was USD 22 million for the first nine months 2011, 

compared to a loss of USD 29 million for the same 

period last year. The historical figures have been 

restated as a consequence of reduced ownership 

percentage in the tank terminals. 

High bunker costs still impact trading results negatively, 

but the time charter result still increased a little 

compared to the second quarter. In the quarter we 

signed a Letter of Intent to take an equity share in the 

Noord Natie Terminals in Belgium. 

With the purchase of the vessel ‘Holly Galaxy’, two 

additional vessels on time charter and the joint 

venture with Crystal Pool our fleet has increased to 

100 vessels in total. 

– Due to the negative financial situation in Europe 

and US, the uncertainty remains as to when we can 

expect to see a significant and necessary recovery 

of the chemical tanker market. However despite the 

economic turmoil, our cargo volumes have increased 

recently. But our result might be challenged as we are 

not being fully compensated for the increase in bunker 

cost. We expect our tank terminal results to remain 

stable due to our solid contract base. We estimate our 

overall results in fourth quarter to show a moderate 

improvement compared to third quarter, says Terje 

Iversen, CFO Odfjell SE. 


LANDMARKS 


12 

Bjørn Hilmar Baug, Odd Jarle Pollen and Andreas Haukaas in use case discussions for the Chartering processes 

New ICT platform for Odfjell Tankers 

By Einar Øye 

On Monday November 14th, Odfjell Tankers 

kicked off the construction phase of the 

on-going project aiming to deliver a new 

ICT platform for Odfjell Tankers. Equivalent 

to the TMS project within Odfjell Terminals, 

the basic idea of this initiative is to provide 

one common software solution to support 

Odfjell’s commercial shipping activities 

onshore as well as on board the vessels. 

Improving support for all work processes 

Currently, there are different ICT tools used 

for chartering, operations, demurrage, etc. 

The tools were developed by Odfjell Tankers to 

target the specific needs within a department 

or a group of users. As the tools maintain 

their own “silos” of information, the ability to 

share and reuse this information efficiently, 

is limited. 

The new ICT shipping platform will provide 

a fully integrated solution with possibilities 

to automate routine tasks, streamline 

communication between departments, 

increase productivity, and support decision 

making. However, implementing a new system 

will not necessarily guarantee improvements. 

To be successful, we also need to see if we 

can improve the work processes, and the way 

we interact with the system. For instance, by 

always seeking to capture information at the 

source (e.g. on board a ship), it’s possible to 

start reusing the information in successive 

steps throughout the work process. 

Odfjell Tankers’ Senior Vice President, Morten 

Nystad, says: – The purpose of this project, 

first and foremost, is to improve the logistical 

services provided to our clients as well as 

increasing the efficiency of our operations. 

The success of the project will be greatly 

dependent on the ownership of the business. 

At Odfjell Tankers, we are building a strong 

project team to meet this challenge and are 

looking forward to building the solution in 

partnership with ICT and Veson Nautical. 

IMOS - the new system 

This autumn, we signed a contract with 

Veson Nautical for the purchase of their IMOS 

system. IMOS will replace the current stack 

of tools used for chartering, voyage management 

and demurrage. In addition to replacing 

OTIS, Odysseus, PreCalc, etc., Veson will also 

provide an on board software called Veslink 

to support an efficient information exchange 

between ships and shore-based personnel. 

Basically, we will establish two «main pillars» 

for support of the global Odfjell network: 

1) The support for the shipping processes 

will be delivered mainly through the 

IMOS and Veslink software. 

2) The decision support is planned to 

be obtained by establishing a data 

warehouse. 

In addition, interfaces will be established 

to external service providers to enable 

efficient exchange of business transaction 

data and documents. Communication and 

collaboration will be supported by the 

Microsoft Office tools as used today. 

Tests and training 

As we have just started the construction 

phase, we expect to use 2012 to configure 

and test the system thoroughly to ensure that 

IMOS can provide the best possible support 

for the work processes. We expect to go “live” 

in early 2013. 

The plan is to implement IMOS to the shore 

www.odfjell.com

NR.04/ 11 

13 

This figure illustrates the main deliverables in this project. 

based organisations, including 15 overseas 

offices. In parallel, we will start deployment 

of Veslink on board the entire fleet. 

Before going live with the systems, all Odfjell 

Tankers employees will need to undergo 

adequate and sufficient training according 

to their respective roles in the organisation. 

In addition, we will educate a number of Key 

Users in order to provide local support to 

their colleagues. 

Project organisation 

Project owner Morten Nystad, is also 

chairman of the steering committee. The 

other members of this committee are Ove 

Nygård, Svend Foyn-Bruun, Arne Harkestad, 

Harald Fotland and Matt Duke. People 

representing all the relevant business areas 

and roles have been assigned to the project. 

Corporate ICT will act as the facilitator 

of the project activities, and support the 

business people in the work to establish 

the deliverables. 

‘New’ stowage support tool 

– project in progress 

By Leif Gunnar Alvær 

As part of the new shipping solution 

project, Odfjell Tankers is in the 

process of renewing their stowage 

support tool. Until now operators have 

used ‘Othello’ (software developed 

internally), whilst the vessels have 

used other systems such as the 

‘Supercargo stowage simulator’. 

The new stowage tool will allow the 

operator and shipboard management 

to work on the same stowage and use 

the same computer software program. In 

order for the new system to be successful, 

high priority will be given to the user. 

A project team is formed, including users 

from operations and representatives for 

the vessels. Until now, the project team 

has focused on analysing which features 

work well in the existing systems, and 

at the same time investigating which 

features within these systems are not 

being used or are difficult to use. 

The result has led to a requirement 

specification of what we believe a new 

stowage tool should contain. The lists 

of requirements have been approved by 

the Odfjell Tankers steering committee, 

and have been presented to selected 

vendors in a tender to offer. Once we 

receive feedback from these possible 

suppliers, the project team will evaluate 

the different solutions and discuss how 

to develop the new stowage tool. 


LANDMARKS 


Naming ceremony M/T Flumar Brasil 

The Naming Ceremony of the M/T Flumar Brasil (51,000 dwt/2010) took place on 13 September in Rio de Janeiro, 

at the Pier Maua. The event was a special occasion as it was the first naming ceremony for Flumar in Brazil. 

14 

The navy orchestra gave a memorable performance 

Flumar Brasil operates under a Brazilian flag with Brazilian seafarers 

The ship was blessed and the Lady sponsor, Patricia R. Russo gave her speech and cut the rope 

launching a loud salute and the release of balloons 

The guests were invited on board to see the ship, which is the most modern ship operating with Brazilian flag on the Brazilian coast 

No naming ceremony is complete 

without the bottle of champagne! 

www.odfjell.com

PORTRAIT 


Dedicated by nature 


In August this year, we welcomed a new 

Chief Financial Officer. With less than the 

“100 days” to acclimatize, Terje Iversen 

has been thrown into budget and decisionmaking 

processes and has taken control of 

the various tasks of the Finance department. 

We are pleased to further introduce 

Terje Iversen. 

With an accomplished financial educational 

background and experience in various positions 

within maritime related companies, we 

are eager to find out why Terje is so dedicated 

to the maritime industry: – My professional 

career started at Coopers & Lybrand (now 

PwC) as an auditor/consultant working with 

various clients within shipping and offshore. 

Thereafter I worked as a Finance Manager/ 

VP Finance in Odfjell Drilling for eight years 

before joining the Bergen Group as CFO in 

2008. Odfjell Drilling is a Norwegian based 

contractor specialising in drilling operations 

on fixed and floating production platforms 

in the North Sea and also globally, while 

the Bergen Group is a supplier of products, 

services and solutions to the offshore and 

maritime industry. The city of Bergen and 

Norway as a country has a long history 

and a strong track-record when it comes to 

international presence within the maritime 

related industries, hence I was attracted to 

the maritime industry, Terje says. 

Odfjell SE – a quality company 

Odfjell is yet another element of the maritime 

industry, what attracted you to Odfjell? 

– Odfjell is a leading international quality 

company with a long history and strong track 

record in the industry. The group has solid 

owners, a solid balance sheet as well as ambitions 

for further growth. This is something I 

find attractive and inspiring, he says. 

Terje is described as a very motivated and 

engaging person. He is structured and goal 

oriented. These strengths are combined with 

a ‘cheerful mind’. He wants to make sure 

that it is fun to be at work, but that there 

ought to be exciting professional challenges 

to work with. 

As a newcomer to the Company he shares 

some thoughts about areas of progress. 

– Odfjell is a very strong company with 

highly educated and motivated people. The 

Company is not however very well known 

either within the financial market or in the 

employee recruiting market. We should not 

be modest when it comes to telling the world 

about our company in order to gain access 

to necessary and reasonable funding as well 

as enabling us to recruit the best people in 

the business. My ambitions are of course 

to contribute to increased earnings for the 

shareholders by doing the best possible 

work. Being an established company, with a 

strong structure and headquarters in Bergen, 

Odfjell has a solid foundation for the future, 

but we should allow to be more potentially 

challenged with regards to how things are 

being done. Not being a typical insider from 

the shipping industry it might be easier to 

ask “odd” questions or look at things in a 

different way. With that said, I do not foresee 

a ‘revolution’, but more a continued evolution 

going forward, Terje explains. 

Competiveness 

Terje is also eager on focusing on how Odfjell 

can be more competitive. – If we are going to 

succeed in a highly international competitive 

business, the organisation needs to be both 

effective and efficient when it comes to working 

procedures and structures. The group 

has had strong growth over the last decades 

and the organisation needs to be competitive 

and also prepared for the potential growth 

ahead of us. Also, having a headquarters in 

Norway gives us challenges in terms of high 

costs, especially when competing with the 

very solvent oil and gas industry in Norway 

for qualified personnel, he says. 

Some spare time 

When working with Terje, you notice his 

eagerness and dedication to the job, always 

thinking of the best way to solve a task, challenge 

or making a decision. Fortunately he 

uses his spare time to ‘recharge his batteries’ 

with his wife and two daughters, as well as 

friends and family. – I also cycle, play squash 

and of course watch football (i.e. to follow the 

favourite football team “Brann”) if I have time! 

In addition I really love to spend the weekends 

and holidays at our sea-side cabin and also 

go fishing, he ends. 

NR.04/ 11 

15 

Fast facts: 

Name: Terje Iversen 

Born: 1969 

Nationaltiy: Norwegian 

Education: Master of Science in Business 

and also State Authorised Public Accountant. 

Work experience: PwC, Odfjell Drilling AS and Bergen Group ASA. 


BRIEFINGS 


Tank farm Railway station OTD entrance 

16 

Odfjell Terminals (Dalian): 

Clean, restored and ready! 

By Xu Tao 

With the support of Odfjell Terminals BV and 

Dalian Port Company (PDA), the necessary 

dedication of our employees and the industrial 

contractors, Odfjell Terminals (Dalian) 

Ltd. (OTD) finally completed the hard work of 

cleaning up and repairing the facilities that were 

stained and damaged in the explosion and fire 

at a neighbouring terminal on July 16, 2010. 

It is really good to see all the infrastructures in 

good working order; the railway station, the motor 

control centre, the truck handling facilities, truck 

operation room and the main entrance with the 

new gate-house. Likewise the long-lost and 

familiar ‘process control picture’s on the screen 

of computers’ monitors at centre control room. 

A brick wall on the boundary between OTD and 

the neighbouring facility has been erected as a 

measure to prevent possible future external risks. 

Restoring 

OTD started the first commissioning of restoring 

facilities in the middle of September with a slow 

running locomotive followed by a train of rail 

wagons. The railroad ground and newly installed 

rail tracks were tested by the railway company of 

PDA. Other equipment, including switchgears, 

electric driven motor pumps, tank radar systems, 

emergency shut-off valves and fire fighting control 

valves, as well as foam systems, were carefully 

inspected and tested one by one by a joint team 

consisting of technicians and engineers from OTD 

and the PDA electric company. A milestone was 

reached in the restoration work on October 18 

when OTD successfully replaced the temporary 

high voltage power source supplied by a temporary 

transformer with a permanent power supply. 

During the long process of restoration work, we 

were faced with numerous unexpected difficulties 

and challenges. The OTD team managed and 

overcame these challenges one by one, by finding 

good, safe and practical solutions. With the good 

support of our valued customers and extraordinary 

work performance by our colleagues, OTD 

has exceeded the operational and financial targets 

set for 2011. 

Well done 

Atle Knutsen, President of Odfjell Terminals B.V. 

expresses his sincere appreciation and thanks 

to all the people from PDA, Odfjell Terminals 

BV, OTD’s valued customers and industrial contractors 

for giving their support to the extensive 

restoration work of OTD. 

Equally, a big thank you to the OTD team for its 

relentless work. Congratulations on work well 

done and MISSION COMPLETED! 

OTD are setting sail for new and more challenging 

targets. 

www.odfjell.com

Triple ISO certification at OOT 

By Zeger van Asch van Wijck 

In September 2011, Oiltanking Odfjell 

Terminals & Co.Llc, Oman (OOT) received 

the official certification of our Integrated 

Management System (IMS) consisting of 

ISO 9001 (Quality), ISO 14001 (Environment) 

and OHSAS 18001 (Occupational Health & 

Safety). 

With ongoing expansion projects and 

complexity increasing at the terminal, OOT 

decided to strive for an external certification 

of three different standards merged in its IMS 

in 2010. For the external certification SGS, the 

world’s leading inspection, verification, testing 

and certification company was chosen. 

Before SGS conducted their first stage audit 

in May 2011, a vast number of tasks had to be 

fulfilled during a one-year period. Tasks such 

as various procedures at the terminal had to 

be revised, checklists and the Management of 

Change programme as well as the implementation 

of a supplier evaluation and customer 

satisfaction programme had to be introduced. 

In addition, a Hazard Identification and Risk 

Achievement the triple ISO certification of OOT would not have been possible without the dedicated, relentless input from staff of various 

departments 

Assessment exercise had to be taken care of. 

Staff needed to learn to put the standards 

into practice and to be trained at large. 

Eventually the entire IMS documentation 

was computerised in a database. The IMS is 

continuously being improved by the means 

of an internal audit programme. 

With such good standards implemented and 

well prepared organisation, SGS granted the 

OOT the final certification of their IMS after 

the second audit in July 2011. The certification 

will increase the terminal’s efficiency, make it 

easier to implement new systems and ensure 

that procedures are continually improved and 

refined. The benefits of implementing these 

systems are also external as they demonstrate 

to customers and other entities that OOT 

uses industry-respected best practices and is 

committed to a clear quality concept. 

NR.04/ 11 

17 

Odfjell Terminals (Jiangyin): - Successful CDI-T audit 

By Pierre Houben 

In November, Odfjell Terminals (Jiangyin) 

(OTJ) passed the CDI-T audit. CDI-T is the 

global, independent inspection scheme for 

bulk liquid chemical storage terminals. 

As businesses diversify, the need to store 

chemical products in third party tank farms 

and terminals has increased. The reputation 

of a chemical company is reliant on the HSE 

management systems and infrastructure of 

storage tank terminals. It is essential therefore, 

that the chemical companies worldwide 

are ensured HSE&S commitment from their 

contracted tanks farms and terminals. As a 

result, this creates a pressing need to engage 

independent third party inspection in order 

to meet the mandatory company minimum 

safety requirement. The terminal inspection 

report of CDI is essentially a quality 

assessment of the terminal, its operations 

and personnel, which also incorporates 

essential aspects of safety and environmental 

protection. 

From the left: Liu Xiaocheng (HSE Manager), Yuan Ying (Quality 

Manager), Guo Hao (HR Manager), Lin Jianpeng (GM), Wang 

Hongying (CSD Supervisor), Tan Changgong (Maintenance 

Manager) and Liu Wei (Operational Supervisor) 

OTJ is the third Odfjell terminal to have 

passed the CDI-T audit. The other terminals 

are Odfjell Terminals (Rotterdam) and Odfjell 

Terminals (Korea). 

We congratulate Lin Jianpeng and his team 

for achieving this milestone. 

Odfjell Terminals (Jiangyin) 

• A modern terminal for liquid petrochemicals; 

operational since 2007. 

• Situated about 150 km west of 

Shanghai on the south bank of the 

Yangtze river. 

• 60 employees. 

• Total capacity of 99,800 cbm. 

• 22 tanks from 2,000 to 7,800 cbm. 

• 7 stainless steel tanks from 2,000 to 

6,000 cbm (total 30,000 cbm). 

• Custom bonded storage tanks 

available. 

• 6 berths for sea-going vessels up to 

50,000 dwt; max. draft 45.9 ft 

alongside. 

• Additional berths for barges. 

• 12 truck stations. 

• ISO 9001, ISO 14001 and 

OHSAS 18001 certified. 

• Land available for expansion. 


iefings 


Dan Odfjell’s visit to Odfjell 

Terminals Charleston (OTC) 

By: Jerry Shreter 

18 

In early October, Bernt Daniel Odfjell (“Dan”), 

board member and former chairman of Odfjell, 

made a visit to Charleston, South Carolina, USA, 

the site of the Company’s new 150,000 cbm 

terminal for bulk liquid chemicals, vegetable 

oil and petroleum products. Together with OTC 

project members, Bert Noggle, Glenn Aycock 

and me, Dan reviewed the project, walking the 

site and viewing the future dock location on the 

Cooper River, the extensive rail and truck areas, 

and the future tank arrangement. We discussed 

the terminal’s sophisticated environmental 

control systems including pressurized and 

internal floating roof tanks, as well as vapor 

balancing, and nitrogen compensation system. 

Dan met with Steve Dykes, Director of 

Charleston County Economic Development 

Organization, who has worked to coordinate 

the project together with the local, city, county, 

and state organisations. During the meeting, 

Dan explained his continuing interest in the 

terminal side of the Odfjell organisation. Having 

pioneered the building of specialized and stainless 

steel chemical tankers in the 60’s, he led the 

chemical industry on a similar path by building 

terminals which were especially engineered for 

chemicals with respect to safety, quality and 

efficiency and met the needs of the international 

and local chemical industry. Dan commissioned 

the first chemical terminals in South America. 

Later chemical terminals were added in North 

America, Asia, Middle East and Europe. 

Dan discussed that the OTC terminal follows in 

the path of the earlier terminals in serving the 

developing needs of Odfjell’s customers. It serves 

the US South East customers, is served by two 

railroad companies, requires less than one hour 

sailing from the open waters to the protected 

terminal dock, and has 12.2 meter draft depth. 

We also met Whit Smith, the president of the 

Port of Charleston Pilot Association and John 

Cameron, the former Captain of the Port for 

Charleston. They hosted us on a boat tour following 

the ship route from mouth of the Cooper River 

to the terminal dock. Dan reviewed the water 

side of the terminal, including the approach and 

turning areas, and he favorably commented on 

the relative advantages that the Charleston port 

has over the other ports in the area. 

All of us appreciated the time that we spent 

with Dan Odfjell, learning from his insights 

and also enjoying the historical and hospitable 

atmosphere of Charleston. 

 

From left Glenn, Dan and Bert 

Odfjell Terminals (Charleston) 

• Operational late 2012/early 2013. 

• Total capacity up to 150,000 cbm 

(1,000,000 bbls). 

• Up to 45 tanks ranging in size from 600 

to 15,900 cbm (4,000 to 100,000 bbls). 

• Easy access for sea-going ships, barges, 

rail tank cars and road tank trucks. 

• One deep-sea berth for tankers and barges 

up to 650 feet LOA and 40 feet draft. 

• Tanks meet API-650 and API-620 standards 

for maximum environmental protection 

and efficiency. 

• Product heating, cooling, circulation, 

insulation available. 

• Nitrogen and other utilities available. 

• Approved dockside disposal of ship waste, 

including MARPOL waste and engine 

slops. 

• Responsible Care® 14001 and ISO 9001 

certification in progress. 

Odfjell Tankers’ Safety 

& Quality Conference: 

– Sharing HSE experience 

By Gunnar Moen 

The yearly Odfjell Tankers’ Safety & Quality 

Conference took place in October in Jebel 

Ali. The main agenda for the conference was 

HSE experience sharing between Odfjell and 

our long term partners, in order to enhance 

safety within our industry. 

The first day focused on safety, operational and 

technical issues. Managers from various parts 

of our organisation presented their focus areas, 

inviting participants to put forward questions 

for discussion. The session was well received by 

everybody, and our visitors agreed that many of 

the issues that had been raised would warrant 

 

further discussions back at their respective 

headquarters. 

Piracy 

The second day was dedicated to piracy, where 

external speakers with experience related to the 

piracy situation in the Gulf of Aden and Indian 

Ocean were invited to make presentations. 

There were speakers from Bancroft Maritime 

Security Solutions, UKMTO, MARLO and NCIS, 

all representing various functions in the growing 

efforts to protect the merchant fleet trading in 

the area. All representatives were hands-on 

professionals. It was an excellent opportunity to 

Coffee break at the conference 

ask questions and gain a better understanding 

of the difficult situation our seafarers and the 

maritime industry face. It was easy to see that 

a great effort has been made in this area, but 

there is still a long way to go before we have 

the resources and back up to be in a position 

by witch we can put an end to this threat to 

ocean transport. 

I take this opportunity to thank the Odfjell Dubai 

office; in particular Erik Nilsen, Captain Tore 

Svensen and Noemi Larsen for their assistance 

and help in all the arrangements – well done!

iefings 


Ole Magnus has spent his first year on board Bow Spring 

Experiencing the Seven Seas 


NR.04/ 11 

19 

– Over the last year, I have gained new 

knowledge about working on board a 

chemical tanker and I have visited parts 

of the world that I have never been before, 

says Ole Magnus Aasheim. He has just 

completed his first year of training at sea 

with Bow Spring. Quarterly is following him 

in his steps as he embarks on his career 

at sea. 

The last time we spoke to Ole Magnus was 

prior to his first embarkation on Bow Spring 

as a trainee and of course we now wonder 

what the first year has been like. 

–This year I have learnt so much, and at the 

same time I have been able to see the world 

and meet and get to know new people. To 

put it mildly, I have had an enjoyable time! 

says Ole Magnus. And he continues: – Even 

though the work is demanding, I enjoy it! 

Learning by doing 

Life as a trainee is diverse and challenging. 

During the trainee period they will work on 

different assignments on various topics. – I 

have just submitted my third assignment. 

This time it was about maintenance and 

included both a practical and a theoretical 

element. I learn something new every day 

both at sea and when being ashore. I have 

been learning about loading and unloading 

cargo and navigation on the bridge. I have 

been chipping rust, painting and have learned 

about tank cleaning. Being a trainee at Odfjell 

is a unique possibility for me and I am doing 

my best to get the most out of the experience, 

he explains. 

Life on board 

Life on board is quite different to life at 

home. – Even though I have my own cabin 

and the vessel is big, life on board is intimate. 

When you live and work together with your 

colleagues over long periods, you get to know 

them quite well, Ole Magnus describes. Bow 

Spring has a crew of 30 people, the officers 

are mainly Norwegians, but one is English 

and two are from the Philippines. The rest 

of the crew are Filipinos. 

One of the absolute advantages of being a 

sailor is the chance to see the world. 

– I was particularly interested in having my 

trainee period on board one of Odfjell’s vessels. 

Being a large shipping company with 

international sailing patterns, it gave me the 

opportunity to travel around the world and 

get to know places and people that I would 

never get to otherwise. When in harbour, I 

use the time to get to know the place and 

the culture. Learning about the country and 

the culture is in fact something that Odfjell 

encourages us to do, Ole Magnus states. 

Back to school 

In six months time, Ole Magnus has to go 

back to school for another two years before 

he can return to sea as a cadet. – I want to get 

 

Bow Spring 

the most out of the time that I have left of this 

period at sea. I have gained a good insight on 

how the chemical tankers trade works, at sea. 

The crew is very friendly and is more than 

willing to teach and share their knowledge 

with me, so I am very satisfied with my period 

at Bow Spring, he says. 

Next time 

Quarterly is eager to meet Ole Magnus again 

and learn about his development and his 

career at sea. We hope that next time we meet 

it will be when he embarks on a Odfjell ship as 

a cadet. – My ambition is to go all the way to 

the top, aiming to be captain. It will take some 

time, but I believe it is feasable. A maritime 

career is a good career, Ole Magnus ends. 


Briefings 


20 

New Mobility Task Group 

By Matt Duke 

The world of mobile technology is rapidly 

expanding, and Odfjell ICT sees a 

huge interest in mobile devices such as 

iPad’s whilst also the expectation that 

consumer devices will also be automatically 

able to connect to secure business 

information and applications. The so 

called “Consumerisation of IT” poses both 

opportunities and risks to our business 

and customers. 

In order for Odfjell to be an attractive and 

competitive enterprise, we must ensure that 

our employees and customers have access to 

the data and tools they need, even when the 

desire to access this data comes from a mobile 

device outside of the traditional laptop or 

desktop PC that we have been familiar with 

and standardized over the past 15 years. Often 

IT challenges the business to implement 

change. In this case the challenge is reversed, 

and ICT must embrace the change that these 

trends in mobile technology present. 

In order to rise to this challenge, the ICT 

Steering Committee approved the formation 

of a “Mobility Task Group”. The team consists 

of over 20 members of staff from many parts 

and locations of the business and the goal of 

this initiative is twofold: 

1. The business, in cooperation with ICT, will 

help identify key processes and applications 

where a “Mobile application” on telephone or 

tablet computer would have a direct, positive 

impact on company profitability, agility, 

employee flexibility and efficiency. 

2. ICT will identify the best technical platform 

that allows Odfjell to manage and secure a 

wide variety of mobile devices, allowing 

secure access to our data, without the need for 

a draconian hardware standard. Our mobile 

task force will be issued iPad devices to help 

in this testing and platform choice. 

Gunvor Senosiain leads this project and the 

findings and recommendations of her team 

will be used for input into a list of processes 

and tools which Odfjell would benefit from 

mobilization. This list can then be used 

for investment prioritization by our senior 

management in the ICT Steering Committee. 

We are aware of the interest in this area of 

technology and are very keen to hear from 

any members of the business who have ideas 

or suggestions on how Odfjell can leverage 

this new trend in IT to our advantage. We will 

report on our findings in a future edition of 

Odfjell Quarterly. 

www.odfjell.com

The Odfjell and 

Lindsay Goldberg 

Joint Venture 

By Martijn Barnas 

Following the recent conclusion of the joint venture with Lindsay Goldberg, 

we take this opportunity to explain the structure of the joint venture (“JV”). 

Following the recent conclusion of the 

joint venture with Lindsay Goldberg, 

we take this opportunity to explain the 

structure of the joint venture (“JV”), 

The JV was formed to further strengthen 

and expand our terminal business in 

both North America and Europe, hence 

the Houston, Charleston and Rotterdam 

terminal facilities are now part of the 

JV. We have retained the management 

responsibility to operate the daily business 

and affairs of these facilities. 

We have retained a 51% share in the 

economic and legal ownership of the JV. 

In recognition of the long term partnership 

with Lindsay Goldberg, the JV has 

three corporate levels through which 

its business and affairs are run: the 

Management Board, the Supervisory 

Board and the General Meeting. 

Management Board 

The management of the joint venture 

company is carried out by the 

Management Board of Odfjell Terminals 

General Partner B.V. (“OTGP”) consisting 

of two members; Mr. Dave Ellis 

and Mr. Geert Eijsink, who heads the 

North American and European activities 

respectively. The members of the 

Management Board are appointed by 

the General Meeting of OTGP, upon a 

binding nomination consisting of two 

persons by Odfjell. 

The Management Board is entrusted 

with the management of the JV and is 

responsible for the day-to-day business 

including commercial, operational 

and technical matters as well as the 

management and administration 

of OTGP. The Management Board is 

subject to supervision and control by 

the Supervisory Board. 

Supervisory Board 

OTGP has a Supervisory Board, consisting 

of six members, three from Odfjell 

(Mr. Laurence Odfjell, Mr. Atle Knutsen 

and Mr. Terje Iversen) and three from 

Lindsay Goldberg (Mr. Lance Hirt, 

Mr. Michael Dees and Mr. Egil Bodd). 

Laurence Odfjell serves as the Chairman 

of the Supervisory Board. 

The members of the Supervisory Board 

are appointed by the General Meeting 

for a period of two years. 

The duty of the Supervisory Board is not 

only to supervise the Management Board 

but also the general course of affairs in 

the JV and the business connected with 

it. It assists the Management Board with 

advice and in performing their duties. 

The Supervisory Board members shall 

act in accordance with the interests of 

the JV and of the business connected 

thereto. Major decisions affecting the 

business of the JV companies require the 

unanimous consent of the Supervisory 

Board. 

General Meeting 

The General Meeting of OTGP is the 

highest corporate body within the JV. 

The General Meeting shall amongst 

other things, be responsible for the 

adoption of the annual accounts, inclusive 

the distribution of the JV profits. 

Michael Dees 

Egil Bodd 

Terje Iversen 

Lance Hirt 

Laurence Odfjell 

Atle Knutsen 

NR.04/ 11 

21 


Briefings 


Sustainable 

social innovation 

By Myrna van der Poel 

22 

On 1 January 2012 Odfjell Terminals 

Rotterdam’s 24/7 five-shift system will 

change. The changes will initially be on a 

trial basis and will mean working in shorter 

cycles with a forward rotation. 

The initiative to investigate a possible new 

shift system was taken by colleagues working 

in the Operations Department. These are the 

people that actually work in the ‘round the clock’ 

scheme. Working together with the employees 

to find business improvements has been a 

great example of social innovation. OTR’s 

Management welcomed the idea and a Task 

Force was formed shortly after. 

Task Force 

When discussing issues such as changing the 

working hours or shift schedules, it was essential 

that The Task Force also involved OTR’s Works 

Council and got their approval. The Task Force, 

is being led by the enthusiastic Arian Jiskoot, 

Stock Administrator Shift D. He initiated and 

developed the plan, communicated the ideas 

with the other workers on different shifts, liaised 

with the Works Council, examined various 

alternatives and found solutions, etc. Arian has 

almost completed a study in Social Innovation 

so it was hardly surprisingly perhaps that he 

was the one who came up with this project. 

When their ideas became more defined, the 

Task Force asked the Works Council for a written 

survey. This survey was needed to give an 

insight into the preferences of the 160 colleagues 

(approximately) that work in the 24/7 system. 

Democratic process 

Peter van Kessel, the Chairman of OTR’s Works 

Council, who has been heavily involved in the 

Task Force process, explains: – We held two polls. 

The first to determine the type of shift schedule. 

Once the type schedule was defined, we held a 

second poll to determine which of the two possible 

varieties within this particular type would 

be chosen. A very democratic process. We are 

very happy to see that the voice of the majority 

really matters. Such democratic processes also 

create a lot of support amongst the people. 

Better for biorhythms 

The new system is about working in shorter 

cycles with a forward rotation. Although working 

in continuous shift systems can be tough, 

medical research has proved that a system of 

shorter cycles with a forward rotation is the 

best for people’s biorhythms. Working the 

longer shifts can be compared with a constant 

feeling of ‘jet-lag’: your body gets used to one 

particular shift pattern and then you are forced 

to adjust to another schedule after a period of 

time. When working shorter shifts, you won’t 

have this effect: before your body gets used to 

a particular shift, you have already changed the 

pattern and started to work different hours. In 

practice, one works 2 day shifts, then 2 evening 

shifts, followed by 1 night shift. The next period 

is 1 day, 2 evenings, 2 nights, and so on, versus 

4-3-4 as per today’s situation. On paper, it 

appears to show a true benefit for the health 

of our colleagues. 

Forward rotation: 

day shift - evening shift - night shift 

Backward rotation: 

night shift - evening shift - day shift 

Union support 

Not only are the OTR employees happy with this 

initiative, we also got positive feedback from 

the Trade Unions. Albert van Damme of the 

Christian National Union commented: – We very 

much support the participation of employees 

when it comes to decisions about their own 

working environment and conditions. This is a 

classic example of social innovation, beneficial 

to all people involved. 

Although the benefits of the new schedule 

look convincing and sustainable, we are still in 

discussions and talking initially about a ‘trial 

change’. The trial will last for at least one year 

and in accordance with the theory of the Plan- 

Do-Check- Act-circle, we will evaluate the new 

schedule in September 2012. 

Although working in continuous shift systems can be 

tough, medical research has proved that a system of 

shorter cycles with a forward rotation is the best for 

people’s biorhythms 

www.odfjell.com

QHSE 


Making sustainable changes using Root Cause Analysis: 

–‘Smart’ problem solving 

By Bjørn Ydse 

Root Cause Analysis (RCA) is a process for 

identifying the ‘basic’ or ‘causal’ factors 

that underlies variations of outcome. RCA 

typically allows you to identify the “root” 

of the problem by questioning ‘how’, ‘why’ 

and ‘where’ a problem, adverse event, or 

trend exists. This analysis should focus on a 

process that has the potential for redesign 

in order to reduce risk. 

Apollo Root 

Cause session 

for facilitators 

in Bergen 

RCA is also a way of looking at unexpected 

events and outcome to determine all of 

the underlying causes and identify recommended 

changes that are likely to improve 

them. Through RCA, you can make decisions 

and look for sustainable solutions based 

on data and facts. RCA focuses primarily 

on systems and processes, not individual 

performance. 

NR.04/ 11 

23 

Apollo in Odfjell 

– a method for Root Cause Analysis 

Apollo RCA is a problem-solving method that 

is scalable depending on the significance of 

the problem and the ability of the RCA team 

to find not only the symptoms but also the 

causes. The method helps to “drill down” to 

the real causes and implement actions for 

the solutions. Apollo has been chosen as a 

company tool, and training of facilitators and 

managers has been carried out over the last 

half year at several locations worldwide. Some 

units have already used the method to find 

the real causes that have lead to incidents and 

more importantly have managed to identify 

preventive actions to avoid repetition. 

Where and when to use the method? 

All business units in Odfjell can use the 

method. Recent analyses and examples are 

from the ICT department in Bergen and an 

incident at the terminal in Rotterdam (OTR). 

Other typical examples can be related to: 

• recordable injuries 

• reportable releases / 

chemical spill to the environment 

• revenue - loss of profit 

• cost of non-quality for instance by 

re-work, off-hire, damaged product, 

lost customer 

• customer complaints 

• frequent incidents and ‘near misses’ 

Return on investment 

Despite the impressive results that these types 

of analyses so often deliver, many companies 

fail to see the true potential of investing in 

RCA. The main reason for this is the perception 

that it’s too difficult, or even impossible 

to obtain the data needed. In addition, executives 

who are not close to the RCA process are 

likely to only see the expenses required such 

as employee training. Nevertheless, experiences 

from many companies worldwide show 

that it is fairly easy to see how RCA is able to 

help reduce cost. It is less obvious perhaps 

how RCA is able to generate revenue and 

profit margins. However, you only have to 

look at the fact that in most companies, the 

cost of non-quality is between 1.5 and 2.5% 

of the revenue. Therefore it should not be 

difficult to find reasons for investing and 

implementing in RCA methods to improve 

the costs of non-quality figures. 


sea and shore 


Education through play and learning 

By Susanne Andersen 

In September this year, at the science 

mediation event in Bergen, our handsome 

‘Odfjell crew’ created a stir amongst the 

spectators at the maritime stand. 

During Science week 23 and 24 September, 

and based on this year’s theme “Chemistry”, 

children and young people were able to get 

an exciting glimpse of our world-leading 

maritime cluster and chemical tankers capital 

in Bergen. 

In cooperation with the Maritime Forum and 

Bergen Shipowners’ Association, we showed 

the complexity of loading a chemical tanker. 

We made people aware that although it is not 

It was a good visual problem-solving exercise that highlighted the importance of knowledge and safety when working with 

transportation of chemicals as it clearly showed that some chemicals could not be sorted next to each other because they 

may react. 

24 

Using the Odfjell crew wall, visitors were able to see how 

they would look as an Odfjell captain or a crew member. 

something most people think about, most 

of our daily products and goods are linked 

to chemicals in some way. We created a task 

using an example tanker, where adults and 

children had to determine how to load nine 

different chemicals into one tanker without 

the chemicals reacting to each other. 

Participants were impressed when they 

learned how Odfjell, a world-leading shipping 

company, can safely and securely carry up to 

50 different chemicals at a time, due to their 

expertise and development in this field and 

their highly technical ships. 

More than one hundred people visited the 

maritime stand and through a combination 

of play and learning they were able to see just 

why Norway has become world champions 

at sea! 

Odfjell Makana takes on South African cadets 

By Thomas Nagelsen 

It was with great excitement we signed our first two South 

African cadets on board the Bow Victor in Durban on 11 

September. Sisanda and Mbaba studied at the University of 

Cape Town and will now gain a ‘practical education’ on board. 

This is the first time we have recruited South African cadets into 

our fleet. Over the next couple of years Sisanda and Mbaba will 

obtain the seagoing experience required to get their certification 

as deck officers. Hopefully this is just the start of a project that will 

be beneficial both to Odfjell Makana as well as help create jobs 

and develop skills in South Africa. 

It was encouraging to see the enthusiasm Sisanda and Mbaba 

showed upon boarding, where they were welcomed by Captain 

Ebeltoft and his crew. 

We wish our new cadets the best of luck with their training and 

their career at sea. We would also like to thank the South African 

Maritime Training Agency for their help and assistance. 

Sisanda, Captain Ebeltoft, Mbaba and Thomas Nagelsen on board Bow Victor 

www.odfjell.com

SEA AND SHORE 


A gardening story 

By OTJ employees 

Our office building at Odfjell Terminals 

(Jiangyin) (OTJ) is surrounded by a lovely 

garden that used to be managed by a 

gardening company. One day the General 

Manager came up with the brilliant idea; 

– why not do it ourselves? This could be 

really positive for the employees as many 

of us live in apartments and don’t have 

the possibility of working in a garden. 

Given that gardening work is supposed 

to be relaxing for the body and good for 

a peaceful mind, it could be beneficial in 

many ways. 

Idea and practice 

The idea was to establish our own gardening 

group that could take the responsibility of 

upgrading and maintaining the company 

garden to maintain its current beauty. This 

would give many of us the pleasure of doing 

gardening work when time allowed. The 

gardening group started up in August and 

everyone was very excited. The lawn was 

overgrown by grass and weeds, but after the 

gardening session, all the weeds were gone 

and the lawn was clean and tidy. During the 

gardening session, everybody had a good 

time; talking, laughing and helping each 

 

other, everybody seemed to enjoy participating 

in this project. 

The gardening story will continue 

The garden will continue bringing OTJ 

happiness, which also helps to make 

employees’ dreams of having a big beautiful 

garden themselves, come true. It’s a ‘win-win’ 

The happy gardeners at OTJ 

situation! The garden will continue to teach 

us important lessons which will also help 

strengthen team work and make us proud 

of our company and the appearance of our 

workplace. When the spring comes, we will 

plant our favourite flowers on the lawn, and 

when you come to OTJ again, you will hopefully 

find it is even more beautiful than last time. 

NR.04/ 11 

25 

“GO MARINO GO!” 

By Jennifer M. Franco 

Odfjell in the Philippines (OiP), along with 

other reputable organisations and industry 

stakeholders, joined the 5th Seafarers’ Fun 

Run on 1 October. The event was organised 

by the Filipino Association for Mariners’ 

Employment, Inc. (FAME) and it embraced 

the theme “GO MARINO GO! —HEALTHY 

BODY, HEALTHY MIND”. 

The event attracted runners and participants 

from all across Manila. OiP was represented by 

16 shore staff and six cadets who participated 

in the 5 km and 10 km races. According to the 

OiP runners, the event was a good way to get 

everybody active and get to know members 

of the sailing community in the Philippines. 

– For us, victory is not only found at the finish 

line. The experience in itself is our prize for 

joining, says Julie Ann Baracael, one of the 

runners from OiP. 

OiP was represented by 16 shore staff and six cadets who participated in the 5 km and 10 km races 


Sea and shore 


Ship model presented to PotashCorp 

By Knut Holsen 

On 22 September a ship model was 

presented by Odfjell Tankers AS to 

PotashCorp/PhosChem to commemorate 

the long relationship between our two 

companies. 

The vessel is a model of the type of vessels that 

carry our Aurora merchant grade phosphoric 

acid from Morehead City (US) to India. The 

acid is used by our Indian customers to 

produce fertilizers for Indian farmers. This 

year we expect to ship over 500,000 metric 

tonnes of phosphoric acid to India. 

26 

The vessel will be housed for display in the 

executive area of the Northbrook office. 

From left: Jay Lubell (OMS), Chris Reynolds (PhosChem), Jakob Sørhus (Odfjell), Stephen Dowdle 

(PhosChem), Knut Holsen (Odfjell) and David Delaney (PhosChem) 

Norwegian Shipowners’ Association visit 

– ‘on shore and on board’ 

By Jakob Sørhus 

Odfjell Houston had great pleasure in welcoming Mr. Sturla 

Henriksen, Director General and Ms. Charlotte Demeer Strøm, 

Head of Section from the Norwegian Shipowners’ Association, 

Oslo, to Houston in October. 

The guests visited Houston in 

conjunction with a Shipping 

Conference arranged by the 

Norwegian Consulate General 

and Norwegian American 

Chamber of Commerce, and we 

were proud to show their distinguished 

guests what Norwegian 

shipping companies represent 

abroad. 

Captain Runar Reinholdtsen 

and his crew greeted them on 

board “Bow Spring” and hosted 

a lunch. “Bow Spring” has seven 

Norwegian officers and three 

Norwegian cadets on board, a 

perfect “Flag Ship” to show off 

Norwegian shipping at its absolute 

best. Time ran short and as 

last hose got disconnected, we 

were ushered ashore, where 

we proudly showed off Odfjell 

Terminals Houston, which further 

manifested what Norwegian 

shipping interests can create 

ashore and outside our country. 

We thank all our guests for taking 

time to visit us. 

From left: Charlotte Demeer Strøm, Runar Reinholdtsen, Sturla Henriksen and 

Jakob Sørhus on board Bow Spring 

www.odfjell.com

personnel 


25 years in service, Bergen 

On the evening of 26 October 2011 

a celebration dinner took place at 

Neptun Hotel for employees having 

been with Odfjell for 25 years at the 

Bergen office. We thank them all for 

long and faithful service to Odfjell. 

Back from left: Knut Henrik Holsen, 

Jan A. Hammer, Svein Aage Daae and 

Frode Midtun 

Front from left: Karen Sofie Hegg, 

Laurence Odfjell(Chairman) and 

Wenche Svahn 

NR.04/ 11 

27 

Service awardS Norwegian Officers 

During the yearly Officers Conference in 

Bergen, Odfjell honoured six of their most 

loyal Norwegian officers. One officer was 

rewarded with the gold watch for 25 years 

continuous sailing for Odfjell, and five 

officers were rewarded with the Norwegian 

Shipowners’ Association’s gold medal for 30 

years of service. The event took place during 

the dinner 22 September at Quality Hotel 

Edvard Grieg. The gold watch and gold 

medals were handed over by our Chairman 

Laurence W. Odfjell. 

Gold watch 25 years of service in Odfjell: 

Chief Engineer Åsulf Valmo 

Front row from left: Lars Sverre Nygaard, Åsulf Valmo, Johannes Sæther, Helge Aslaksen and Laurence W. Odfjell 

(Chairman). Back row from left: Bjørn Åge Veivåg, Helge Olsen, Meidel Eriksen, Edvin Olav Hopland and Jan A. 

Hammer (President/CEO) 

Norwegian Shipowners’ Association 

Gold medal for 30 years of service: 

Captain Johannes Sæther 

Captain Helge Aslaksen 

Captain Meidel Eriksen 

Captain Edvin Olav Hopland 

Chief Engineer Lars Sverre Nygård 


Personnel 


NEW HIRES 

HOUSTON 

Anderson, Bryan 

Ship Agent 

10.10.11 

Bispeck, William B. 

Sr. Project Manager 

06.09.11 

Johnson, Jennifer 

Administrative 

Assistant 

01.08.11 

Le Blanc, Belinda 

Purchasing Manager 

01.09.11 

Pinks, 

Melbourne John 

Terminal Manager 

OTC 

24.10.11 

Rotterdam 

28 

Dries, René 

Planner i.o. 

01.10.11 

Hoogstad, Jeffrey 

D-Operator 

01.10.11 

Janse, Robert-Jan 

Field Engineer 

01.11.11 

Rozendaal, Sander 

Planner 

01.11.11 

Teekman, Inge 

HRM Adviser 

01.11.11 

Bergen 

SHANGHAI 

SINGAPORE 

Argentina 

FLUMAR 

Færø Jo-Harald 

Claims Handler 

01.09.11 

Qian, Min-Min 

Assistant 

01.10.11 

Seah, Kok Peng 

Regional 

QHSE Manager 

01.11.11 

Esposito, Griselda 

Victoria 

Receptionist 

08.09.11 

Alves, Pereira Giliard 

Accounting Auxiliary 

03.10.11 

MANILA 

Bola, Stephanie 

Crew and Cargo 

Database Assistant 

12.09.11 

Cañete, Roldan 

Accounting Assistant 

10.10.11 

Luma-ang, Jonalyn 

Financial Accounting 

Analyst 

01.09.11 

Parungao, Erlan 

Purchasing Officer 

03.11.11 

www.odfjell.com

PERSONELL ODFJELL QUARTERLY magazine 

RELOCATIONS 

From 

Bergen to Houston 

From 

Bergen to Singapore 

From 

Rotterdam to Oman 

Hammer, Bjørn Henrik 

Senior Ship Broker 

01.10.11 

Larsen, Fredrik 

Marine Superintendent 

01.10.11 

Boerma, Arthur 

Operations Manager 

01.11.11 

NR.04/ 11 

29 

In Service for Odfjell 

25 

years 

Odfjell Terminal (Rotterdam) 

Verkamman, Hendrik Jan 

C-Operator 

01.10.86 

Samuel, Harry Belafonte 

C-Operator 

24.11.86 

Odfjell Bergen 

Holsen, Knut Henrik 

VP Chartering Middle East, India & Africa 

01.11.86 

30 

years 

Odfjell Netherlands BV 

Hobbel, Johannis Adrianus 

Senior Port Operator 

01.10.81 


FLEET & TERMINALS 


as per 7 December 2011 

30 

OWNED YEAR STAINLESS NUMBER 

SHIPS BUILT DWT CBM STEEL, CBM OF TANKS 

Bow Lind 2011 46 047 48 703 - 29 

Bow Elm 2011 46 098 48 703 - 29 

Flumar Brasil 2010 51 188 55 452 - 14 

Bow Saga¹ 2007 40 085 52 126 52 126 40 

Bow Sirius¹ 2006 40 048 52 155 52 155 40 

Bow Sea 2006 40 048 52 107 52 107 40 

Bow Summer 2005 40 036 52 128 52 128 40 

Bow Spring ¹ 2004 39 942 52 127 52 127 40 

Bow Star 2004 39 832 52 127 52 127 40 

Bow Sun 2003 39 842 52 127 52 127 40 

Bow Firda 2003 37 427 40 645 40 645 47 

Bow Chain 2002 37 518 40 621 40 621 47 

Bow Fortune 1999 37 395 40 619 40 619 47 

Bow Master 1999 6 046 7 018 7 018 14 

Bow Mate 1999 6 001 7 004 7 004 14 

Bow Pilot 1999 6 008 7 005 7 005 14 

Bow Sailor 1999 6 008 7 011 7 011 14 

Bow Cecil 1998 37 369 40 515 33 236 47 

Bow Flora 1998 37 369 40 515 33 236 47 

Bow Balearia 1998 5 846 6 075 6 075 20 

Bow Oceanic 1997 17 460 19 616 19 616 24 

Bow Bracaria 1997 5 846 6 071 6 071 20 

Bow Brasilia 1997 5 800 6 067 6 067 20 

Bow Cardinal 1997 37 446 41 487 34 208 52 

Bow Faith 1997 37 479 41 487 34 208 52 

Bow Aratu 1997 13 843 15 834 15 834 29 

Bow Querida 1996 10 106 11 181 11 181 18 

Bow Cedar 1996 37 455 41 488 41 488 52 

Bow Atlantic 1995 17 460 19 588 19 588 24 

Bow Fagus 1995 37 375 41 608 34 329 52 

Bow Clipper 1995 37 221 41 596 34 328 52 

Bow Flower 1994 37 221 41 492 34 213 52 

Bow Eagle 1988 24 728 32 347 19 662 25 

Bow Cheetah 1988 40 257 43 772 - 29 

Bow Leopard 1988 39 512 43 772 - 29 

Bow Lion 1988 39 423 43 726 - 29 

Bow Peace 1987 45 655 52 179 2 167 23 

Bow Pride 1987 45 655 52 179 2 167 23 

Bow Prosper 1987 45 655 52 179 2 167 23 

Bow Fertility 1987 45 507 52 182 2 167 23 

Bow Fraternity 1987 45 507 52 180 2 167 23 

Bow Victor 1986 33 000 34 500 21 975 31 

Araucaria 1984 10 259 10 159 6 500 18 

Bow Pacifico (50%) 1982 18 657 22 929 10 849 31 

Bow Viking 1981 33 644 40 967 21 745 36 

ON YEAR STAINLESS NUMBER 

TIME CHARTER BUILT DWT CBM STEEL, CBM OF TANKS 

SG Pegasus 2011 13 086 14 523 14 523 16 

NCC Danah³ 2011 45 578 53 495 - 22 

NCC Nasma³ 2011 45 550 53 664 - 22 

NCC Safa³ 2011 45 544 53 664 - 22 

NCC Amal³ 2011 45 544 53 664 - 22 

NCC Huda³ 2011 45 459 53 664 - 22 

NCC Noor³ 2011 45 565 53 664 - 22 

Stream Luna 2010 19 998 22 161 22 161 20 

Bow Tone 2009 33 625 37 974 37 974 16 

Bow Hector 2009 33 694 37 384 37 384 16 

Southern Jaguar 2009 19 997 22 157 22 157 20 

Stream Mia 2008 19 702 22 094 22 094 26 

Bow Sagami 2008 33 641 38 000 38 000 16 

Bow Harmony 2008 33 619 38 052 38 052 16 

Bow Cape 2008 19 975 22 158 22 158 20 

Bow Kiso 2008 33 641 37 974 37 974 16 

Bow Heron 2008 33 707 37 365 37 365 16 

NCC Haiel³ 2008 45 953 54 401 - 22 

NCC Dammam³ 2008 45 965 54 401 - 22 

NCC Sudair³ 2007 45 853 54 401 - 22 

Bow Lima 2007 19 971 22 157 22 157 20 

Bow Fuji 2006 19 805 22 140 22 140 22 

Bow Plata 2006 19 807 22 143 22 143 22 

Bow Engineer 2006 30 086 36 274 36 274 28 

Crystal Topaz³ 2006 11 340 12 122 12 122 20 

Crystal Diamond³ 2006 11 340 12 134 12 134 20 

Bow Sky² 2005 40 005 52 126 52 126 40 

Bow Architect 2005 30 058 36 290 36 290 28 

Bow Rio 2005 19 999 21 851 21 851 22 

Bow Europe 2005 19 727 22 013 22 013 36 

Bow Santos² 2004 19 997 21 846 21 846 22 

Bow Asia² 2004 9 901 11 088 11 088 20 

Bow Singapore² 2004 9 888 11 089 11 089 20 

Bow Americas 2004 19 707 22 735 22 735 36 

Bow de Rich 2003 12 452 13 571 13 571 22 

Bow de Feng 2002 12 514 13 571 13 571 22 

Bow Andino 2000 16 121 17 622 17 622 30 

Crystal Amaranto³ 1999 9 887 11 115 11 115 24 

Euro Corallo³ 1999 4 482 4 543 4 543 17 

Euro Mora³ 1998 3 746 3 907 3 907 15 

Crystal Skye³ 1998 9 554 10 917 10 917 24 

Crystal Ambra³ 1998 8 053 8 559 8 559 22 

Bow Jubail² 1996 37 499 41 488 34 209 52 

Bow Mekka² 1995 37 272 41 606 34 257 52 

Bow Riyad² 1995 37 221 41 492 34 213 52 

Crystal Amethyst³ 1994 8 104 9 536 9 536 17 

Crystal Emerald³ 1994 8 143 9 542 9 542 17 

Crystal Pearl³ 1994 8 143 9 536 9 536 17 

Bow Baha 1988 24 728 32 363 19 662 25 

COMMERCIAL YEAR STAINLESS NUMBER 

MANAGEMENT BUILT DWT CBM STEEL, CBM OF TANKS 

JBU Sapphire 2009 19 860 22 144 22 144 16 

JBU Opal 2009 19 865 30 301 30 301 16 

Northern Wolverine 2006 16 000 18 397 10 056 35 

Northern Lynx 2003 16 533 18 397 10 056 35 

Crystal Atlantica 2000 16 630 17 350 17 350 22 

Number of ships: 99 2 716 458 3 132 198 1 950 584 

¹ Vessel beneficially owned through financial lease. 

² Vessel on bare-boat charter. 

³ Vessel on variable timecharter/pool. 

www.odfjell.com

ON ORDER 

YARD DELIVERY DWT OWNER 

SLS Shipbuilding Co.Ltd. Korea 2011/2012 45 000 NCC 5 vessels 

Chongqing Chuandong Shipbuilding Industry Co.Ltd 2012 9 000 Odfjell 

“ 2012 9 000 Odfjell 

“ 2012 9 000 Odfjell 

Daewoo Shipbuilding and Marine Engineering Co Ltd 2013 75 000 Odfjell 

“ 2013 75 000 NCC 

Number of newbuildings: 10 402 000 

STAINLESS 

NUMBER 

TANK TERMINALS LOCATION SHARE CBM STEEL, CBM OF TANKS 

Odfjell Terminals (Rotterdam) BV Rotterdam, NL 51 % 1 636 100 33 000 281 

Odfjell Terminals (Houston) Inc Houston, USA 51 % 331 338 82 035 100 

Odfjell Terminals (Jiangyin) Co Ltd Jiangyin, China 55 % 99 800 30 000 22 

Odfjell Terminals (Dalian) Ltd Dalian, China 50 % 119 750 18 350 51 

Odfjell Terminals (Korea) Co Ltd Onsan, Korea 50 % 313 710 15 860 85 

Oiltanking Odfjell Terminal Singapore Ltd Singapore 50 % 365 000 13 520 79 

Oiltanking Odfjell Terminal & Co. LLC Sohar, Oman 29,75 % 1 267 500 - 54 

Exir Chemical Terminals PJSCO BIK, Iran 35 % 22 000 1 000 18 

Vopak Terminal Ningbo Ltd Ningbo, China 12,5% 65 550 7 900 38 

Total owned terminals 9 terminals 4 220 748 201 665 728 

Depositos Quimicos Mineros S.A. Callao, Peru 50 380 1 600 39 

Granel Quimica Ltda Santos I, Brazil 97 720 19 880 99 

Granel Quimica Ltda Rio Grande, Brazil 61 150 2 900 32 

Granel Quimica Ltda Sao Luis, Brazil 75 710 - 35 

Granel Quimica Ltda Ladario, Brazil 8 060 - 6 

Granel Quimica Ltda Triunfo, Brazil 12 000 - 2 

Granel Quimica Ltda Teresina, Brazil 7 640 - 6 

Odfjell Terminals Tagsa S.A. Buenos Aires, Argentina 47 140 530 87 

Odfjell Terminals Tagsa S.A. Campana, Argentina 62 980 10 190 88 

Terquim S.A. San Antonio, Chile 32 840 - 25 

Terquim S.A. Mejillones, Chile 18 000 - 7 

IMTT-Quebec Quebec, Canada 293 130 5 500 53 

NR.04/ 11 

31 

Total (incl. Associated terminals) 21 terminals 4 987 498 242 265 1 207 

PROJECTS AND EXPANSIONS STAINLESS ESTIMATED 

TANK TERMINALS LOCATION SHARE Cbm STEEL Cbm COMPLETION 

Odfjell Terminals (Charleston) LLC Charleston, USA 51 % 56 000 - ready Q1 2013 

Oiltanking Odfjell Terminal & Co.LLC Sohar, Oman 29,75 % 27 300 - ready Q3 2012 

Total expansion owned terminals 1 new terminal 83 300 - 

Depositos Quimicos Mineros S.A. Callao, Peru 2 600 ready Q1 2012 

Granel Quimica Ltda Aracruz, Brazil 30 000 - ready Q3 2014 

Granel Quimica Ltda Santos II, Brazil 52 000 - ready Q4 2012 

Terquim S.A. Mejillones, Chile 50 000 - ready Q4 2012 

Total expansion (incl. Associated terminals) 3 new terminals 217 900 

Grand total (incl. Associated terminals) 24 terminals 5 205 398 242 265 


MAIN OFFICE ODFJELL 

Odfjell SE - Odfjell Tankers AS 

Conrad Mohrsv. 29, 

P.O. Box 6101 Postterminalen 

5892 Bergen, NORWAY 

Tel: +47 5527 0000 

Fax: +47 5528 4741 

Fax: +47 5527 9070 (Chartering/Operations) 

MAIN OFFICE TERMINALS 

Odfjell Terminals BV 

Oude Maasweg 6, P.O. Box 5010 

Harbour Number 4040 

3197 KJ Rotterdam-Botlek 

The NETHERLANDS 

Tel: +31 102 954 700 

Fax: +31 102 954 719 

INTERNATIONAL OFFICES 

Odfjell USA (Houston) Inc. 

12211 Port Road 

Seabrook, TX 77586, USA 

Tel: +1 713 844 2200 

Fax: +1 713 844 2211 

Odfjell Singapore Pte Ltd 

6 Shenton Way, # 27-08/09 

DBS Tower 2 

SINGAPORE 068809 

Tel: +65 6349 1300 

Fax: +65 6224 2285 

Odfjell Japan Ltd 

Ogawa Bldg. 8F 

2-2 Uchikanda 1-Chome 

Chiyoda-ku, Tokyo 101-0047, JAPAN 

Tel: +81 3 3259 8555 

Fax: +81 3 3259 8558 

Odfjell Netherlands BV 


3197 XC Rotterdam-Botlek 


Tel: +31 102 953 666 

Fax: +31 102 953 668 

Odfjell Brasil Ltda 

Av. Paulista 460 - 18 andar 

CEP 01310-000 Sao Paulo SP, BRAZIL 

Tel: +55 11 3549 5800 

Fax: +55 11 3549 5808 

Odfjell Shanghai 

Suite B, 13F 

Huamin Empire Plaza 

728 Yan An West Road 

Changning District 

Shanghai 200050, P.R. CHINA 

Tel: +86 21 5239 9469 

Fax: +86 21 5239 9897 

Odfjell Argentina SA 

Alicia Moreau de Justo 1960 

Office no. 202 - Puerto Madero 

1107 Buenos Aires, ARGENTINA 

Tel: +54 114 313 7837 

Fax: +54 114 313 4619 

Odfjell Australia Pty Limited 

Suite 4, Level 1 

443 Little Collins Street 

P.O.Box 1279 

Melbourne VIC 3001 AUSTRALIA 

Tel: +61 3 9642 2210 

Fax: +61 3 9642 2214 

Odfjell India 

A-26, Nandbhuvan Industrial Estate 

Mahakali Caves Road, Andheri (East) 

Mumbai 400093, INDIA 

Tel: +91 22 6695 4701 

Fax: +91 22 6695 4707 

Odfjell Durban (Pty) Ltd 

61 Bulwer Road, Glenwood 

P.O.Box 4045 

Durban 4021, SOUTH AFRICA 

Tel.: +27 31 2770880 

Fax: +27 31 2770899 

Odfjell Tankers AS, Korea Branch 

Room 1815 Gwanghwamum Officia Bldg. 

163 1-ga Shinmunno 

Jongn-gu, Seoul, 110-999 Korea 

Tel: +82 2 775 9760 

Fax: +82 2 775 9761 

Odfjell Korea Ltd. 

136, Cheoyong-Ri, 

Onsan-Eup, Ulju-Gun 

Ulsan, KOREA 

Tel: +82 52 227 5527 

Fax: +82 52 227 5567 

Odfjell Chile 

Puerta del Sol 55 

Las Condes, Santiago 

CHILE 

Tel: +56 2 3307221 

Fax: +56 2 3307948 

Odfjell Philippines Inc. 

4th Flr Atlantis Beacon Tower 

2315 Leon Guinto St. 

Malate, Manila 1004 

PHILIPPINES 

Tel: +6325280341 

Fax: +6325262256 

Odfjell (UK) Ltd 

14 Headfort Place 

London SW1X 7DH 

UNITED KINGDOM 

Tel: +44 207 823 0605 

Fax: +44 207 823 0606 

Odfjell Peru 

Av. Enrique Meiggs, 240 

Urb. Chacaritas, 

Callao, PERU 

Tel: +51 1 614 0800 

Fax: +51 1 614 0801 

NCC Odfjell Chemical Tankers JLT 

Room 3101-3104, Liwa Heights 

Jumeirah Lake Towers 

P.O.Box 214459 

Dubai, UNITED ARAB EMIRATES 

Tel: +971 4 440 1700 

Fax: +971 4 441 1701 

REGIONAL OFFICES 

Odfjell Asia Pte Ltd 

6 Shenton Way, # 27-08/09 

DBS Tower 2 


Tel: +65 6349 1300 

Fax: +65 6224 2285 

Flumar Transportes 

de Quimicos e Gases Ltda 

Av. Paulista 460 - 18 andar 

CEP 01310-000 Sao Paulo SP, BRAZIL 

Tel: +55 11 3549 5800 

Fax: +55 11 3549 5807 

Odfjell Tankers Europe AS 

Conrad Mohrs veg 29 

P.O.Box 6101 Postterminalen 

5892 Bergen, NORWAY 

Tel: +47 5527 0000 

Fax: +47 5527 9070 

TERMINALS 

Odfjell Terminals (Rotterdam) BV 


Harbour Number 4040 

3197 KJ Rotterdam-Botlek 


Tel: +31 102 953 400 

Fax: +31 104 384 679 

Odfjell Terminals (Houston) Inc. 

12211 Port Road 

Seabrook, TX 77586, USA 

Tel: +1 713 844 2300 

Fax: +1 713 844 2355 

Odfjell Terminals (Dalian) Ltd 

New Port 

Economy & Technology 

Development Zone 116601, Dalian 

P.R. CHINA 

Tel: +86 411 8759 5500 

Fax: +86 411 8759 5549 

Odfjell Terminals (Jiangyin) Co., Ltd 

1314 West Binjiang Road 

Shizhuang 

New Harbour City, Jiangyin 

Jiangsu 214446 P.R. CHINA 

Tel: +86 510 8666 9111 

Fax: +86 510 8666 9110 

Odfjell Terminals (Korea) Co, Ltd 

136, Cheoyong-Ri 

Onsan-Eup, Ulju-Gun 

Ulsan, KOREA 

Tel: +82 522 311 600 

Fax: +82 522 376 636 

Oiltanking Odfjell 

Terminal Singapore Pte Ltd 

1 Seraya Avenue 


Tel: +65 6473 1700 

Fax: +65 6479 4500 

Oiltanking Odfjell Terminals & Co. Llc. 

P.O. Box 369 

PC., 322 Fajal Al Qubail 

Sohar, SULTANATE OF OMAN 

Tel: +968 2670 0300 

Fax: +968 2670 0306 

Vopak Terminal Ningbo Ltd. 

No. 111 Zhaobaoshan Road, 

Zhenhai District 

Ningbo, P.R. CHINA 

Tel: +86 574 2769 5638 

Fax: +86 574 8627 5931 

ASSOCIATED TERMINALS 

Granel Quimica Ltda 

Av. Paulista 460, 18° andar 

CEP 01310- 000 São Paulo, SP 

BRAZIL 

Tel: +55 11 3549 5800 

Fax: +55 11 3549 5832 

Tagsa S.A 

Av. Alicia Moreau de Justo 1960, 

piso 4 Of. 402 

1107 Buenos Aires 

ARGENTINA 

Tel: +54 11 4001 9700 

Fax: +54 11 4001 9701 

Terquim S.A 

Blanco Encalada 840 

Dept 702, San Antonio 

CHILE 

Tel: +56 35 21 1050 

Fax: +56 35 21 1161 

DQM S.A 

Av.Enrique Meiggs, 240 

Urb.Chacaritas, 

Callao, 

PERU 

Tel: +51 1 614 0800 

Fax: +51 1 614 0801 

www.odfjell.com

Quarterly December 2011 - Odfjell

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