Quarterly September 2007 - Odfjell

Bow Octavia and Bow OliviaBy Frode StornesWe have this summertaken on timecharterthe twoUsuki-built shipsBow Octavia andBow Olivia. Ontheir maiden voyages,Bow Octaviasailed in ballast toSouth East Asia and loaded vegetableoils for Africa, and Bow Olivia loadedsulphuric acid in the Philippines forChile. Both ships are intended to tradein the Western Hemisphere, and attime of publishing, both ships shouldbe crossing the North Atlantic on theirway to Rotterdam.Their Japanese owner, Nisshin, is a privatelyowned company that started withliner services in 1967. They have grownto an owner with a fleet of approximately35 ships; mostly bulk carriers,but also product and chemical tankers.Their chemical tankers are on timecharterto MTMM, Stolt-Nielsen andAhrenkiel. Nisshin is in charge of technicaland crewing management forall their ships through their subsidiaryVictoria Ship Management, located atthe same address in Tokyo as the owner.Bow Octavia and Bow Olivia are ontime-charter to our partner Ahrenkiel,who in turn has let the ships sail in apool operated by Odfjell Seachem. BowOctavia and Bow Olivia are ships numberthree and four in a row of six sisterships from Nisshin/Ahrenkiel. The twolast ones are yet to be completed fromthe yard. Odfjell, on the other side, contributesto the pool by six similar ships,whereof four are delivered, on directtime-charter from other Japanese owners.By April 2008, all twelve ships shallbe delivered and the pool will be complete.In cooperation with the T/C-owner,Odfjell Seachem operates two wellequipped and efficient ships and wehave established a good workingrelationship with both Nisshin andAhrenkiel. The two ships have stainlesssteel cargo tanks, they have goodfresh water facilities and separate freshand sea water cleaning lines on deck aswell as good tank cleaning equipmentand fixed nitrogen generators. We wishCaptain Labuguen and Captain Pasculaand their compliments welcome onboard and we look forward to manygood years of service and cooperation.Fast facts Bow Octavia Bow OliviaDelivered: 01.06.2007 31.07.2007DWT: 19,990LOA / Beam / Draft: 146 / 23.7 / 9.7Tanks: 22Tank lining:Officers and crew:Built:Class:Flag:Owner:Manager:Stainless SteelPhilippinoUsuki Shipyard, JapanNKPhilippinesPool ShipsNisshin Shipping Co, TokyoVictoria Ship Management, Tokyo(subsidiary of the owner)deliveredBow Santos 05.11.2004Bow Rio 18.11.2005Bow Orania 29.03.2006Bow Plata 10.10.2006Bow Ophelia 28.11.2006Bow Fuji 07.12.2006Bow Octavia 01.06.2007Bow Olivia 31.07.2007Bow OctaviaBow OliviaOdfjell Quarterly September 2007 21