quarterly june 2010

ODFJELL

www.odfjell.com

JUNE 2010

CONTENTS

HighlightsWomen in shipping 04

Chairman’s Message 06

Landmarks760 days without lost time injury 07

Largest TMS roll-out so far 08Continued weak result in the 1st quarter of 2010 10

Ready for the big chair 12Odfjell Insite ready 14

BriefingsSimulation-based training at Odfjell Academy 17

QHSE on the agendaModern time piracy 20

Sea and shoreOur terminal in Oman 22A day at the terminals 24

Earthquake in Chile 25

In societyMargareta Home for the Blind celebrates 26

CustomerGet-together in Mumbai 27

Odfjell sponsors Forskor F21 half marathon 28

Personnel 29Fleet and terminals 30

Offices and addresses 32

Odfjell Quarterly

EDITOR: Margrethe Gudbrandsen

EDITORIAL COMMITEE:Ellen Skagen, Brit A. Bennett, Matt Duke, Siri-Anne Mjåtvedt, Helge Olsen, Marit Beate Simonsen, Theo Kruithof

CORRESPONDENTS:SINGAPORE: Atle KnudsenHOUSTON: Rebecca Snyder

Deadline next issue:August 26th, 2010

Design: Bruno Blanchard, Cox Grafisk produksjon: Ilana Landro Pinker, CoxPrint: Scanner Grafisk AS

Cover: Captain Fidel Perez, Odfjell AcademyPhoto: Medieware

Odfjell Terminals(Rotterdam) - Photo by: Ruud van Leeuwen (fotovanleeuwen.com)

Texts submitted to Quarterly may be subject to editorial adjustments.

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As previously announced, Laurence W. Odfjell was elected and took over as our Company’s Chairman at the last General Assembly. I want to offi-cially congratulate Laurence with the new assignment. Having known him for some years now, I have noticed that he has the same love and desire for our Company as his predecessor. But he has also his own ideas, and one of the things that Laurence has changed already is the sequence of our Board meetings; particularly as they interact with some of our regular business processes. We have newly introduced and embarked therefore, on a new Integrated Management Cycle by which we shall focus on our strategy in June (previously in Sep-tember), with the purpose that the outcome shall be reflected and used as input for subsequent processes such as the making of action plans, budgeting and target setting.

So at the time of writing, we are about to prepare for the yearly strat-egy meeting together with our Board of Directors. I get questions from time to time about our Company’s strategy, since seemingly we are run-ning the same sort of business year after year. And “yes”, that is a correct observation, but is so because that, in fact, has been our strategy – which has been, and still is, to operate ac-cording to a defined business model. The business model describes the markets in which we are going to operate and our concept for how to best obtain long term profitability

within same. The main purpose with the yearly strategy session has been to review, evaluate and update our business model and potentially de-cide on any adjustments or changes.

Our business model has served us well for many years, but is now being tested in the wake of the downturn of the global economy and our mar-kets in particular. It is obvious for instance that our services have been further commoditized and that our equipment is being over inspected and controlled with often senseless and arbitrary requirements – like the many age limitations. We notice in that context, that some of our com-petitors seem to be redefining their business models – by scaling down, and/or entering new markets by or-dering LPG carriers and long range product/crude carriers. It looks like a sign of frustration. It cannot be denied in that respect, that our shareholders, as represented by the Board, also are increasingly frus-trated about the difficulties we face in being profitable in the chemical tanker market. With that in mind, it seems obvious in these challenging times, that many of our core ideas will be tested, so this year’s strategy meeting should be very interesting.

Last month I had the opportunity for the first time to participate in a council meeting of Intertanko. Four subjects got special attention; piracy, criminalization of seafarers, vettings and the escalation of environmental

requirements. It was a good meeting in as much as I got to meet and see that a great number of other owners and operators share the same con-cerns as we do. The issue of piracy for instance is a huge frustration – since politicians and governments seem incapabable of finding a solution. They only talk about ways of dealing with piracy as a phenomenon that will remain. I proposed an industry wide avoidance of piracy infected areas, my thinking being that piracy should not really be the problem of the owners and operator. Ships are always scheduled here and there because of the cargoes they are con-tracted to carry – and the problem therefore, should rest with the cargo owners. The proposal seemed so far to be “outside the box” of possible solutions, but has at least been put on the agenda.

In the last issue of Quarterly I closed this column by saying that I hoped “spring” would apply to the global economy and our markets. That has not been the case. Instead we are faced with the onset of a new set-back, a double dip as they call it. It goes without saying therefore, that we need to remain conservative and continue our efforts in enhancing cost consciousness throughout our entire organization.

I wish you all a good summer.

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magazineQUARTERLY

ODFJeLL

Dear Colleagues,

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W W W . O D Fj E L L . C O M

HIgHLIgHTS ODFJeLL QUaRTeRLY magazine

WOmen in shippingThe share of female employees at Odfjell is steadily but slightly increasing, and women in tra-ditionally male-dominated jobs are no longer rare to find in Odfjell. Quarterly have met two ladies who have made an untraditional female career in Odfjell, not afraid of dirt and heavy lifts.

By Margrethe Gudbrandsen

Gunvor started in Odfjell in 1996 as an engine cadet and later 2nd engineer. She sailed for six years before she went ashore and started work-ing in the office as a purchaser. She had this po-sition for five years before she decided to join the superintendent trainee programme. After eight months of training, she got the job as a technical superintendent in September 2008.

The Technical superinTendenT

name: Gunvor S. Meyer

age: 37

current position: Technical Superintendent

From left: Hilde Bølstad (DNV), Gunvor S. Meyer, Ingvald Larsen and Oddvin Ertesvåg inspecting the rudder on Bow Clipper

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O D Fj E L L Q U A R T E R Ly M A G A z I N E

Why did you choose this profession?- By coincident. I heard people talking about the exciting jobs you could get if choosing a maritime education, so I decided to try. I did not know at that time that this also could lead to interesting jobs ashore. That was a bonus!

What is the best with this job?- I like that no days are the same. There are always new challenges and new things to learn. It is a job that never gives you the priv-ilege of getting bored!

Is there a difference in the way a woman does this job versus a man? - Everybody have their own way of doing things. I do not think differences in how you perform your job has to do with what kind of sex you are. It is more dependent on how you are as a person.

Gunvor does not feel that she has to work harder nor that there are extra challenges in her work because she is woman. But she guesses that, having such a job, there are challenges for those who have children.

- Frequent travelling will make it hard, but for me it is no problem, since I do not have children.

Is it easier now than before being a female in this profession? If so, why do you think so? - I think it is easier now. I guess the first fe-males having a typical male position, could meet difficulties when performing their job. Nowadays there are women in all kinds of professions worldwide, and old prejudices are no longer as dominant as before. So things are improving.

WOmen in shipping

The Officername: Kristin Dahle age: 25current position: 2nd Officer on Bow Fortune

Kristin started as deck trainee at Knuts-en OAS, before she entered the nauti-cal school in Haugesund. After school she started as cadet on Bow Chain, pro-gressed as 3rd Officer on Bow Spring and later Bow Chain, and progressed further to 2nd Officer on Bow Fortune.

Why did you choose this profession?- It is hard to tell but I grew up by the sea, and many of my family members work at sea. I joined my father on board his vessel just before I started school, and I enjoyed it very much.

What is the best with this job?- To travel and to see the world. To work with different challenges and new things that happens all the time. To meet a lot of new people, and not least the free time period of 6-8 weeks.

Being in a male dominated business, do you have to work harder because you are a woman?- No, there are no gender difference in how we perform this job. However that is my opinion, maybe the guys feel differ-ently?

Are there any extra challenges in your work being a female?- There will always be physical challeng-es. But mostly that is ok, I get some help from my nice colleagues if necessary.

What is the feedback from your sur-roundings?- Only positive. Family and friends are very proud of me. The negative part is being away from family and friends dur-ing holidays and festivals. I hope internet will be installed on every vessel as this is a nice way to communicate with friends and families.

How is it to combine this profession with family life?- To combine this profession with family life can be hard. My boyfriend also works at sea. So a bit of planning is required before deciding to have a family with children. We can still work within shipping even though we go ashore. But I am still young and have still plenty of years at sea.

Is it easier now than before being a fe-male in this profession? If so, why do you think so? - I believe it is easier nowadays than be-fore. It is quite common to have women on board and I believe it will increase in the years to come. I have only received positive feedback from my male col-leagues about having women on board. I suppose we contribute to a positive and alternative atmosphere on board.

Kristin Dahle on Bow Fortune

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CHAIRMAN’S MESSAgE ODFJeLL QUaRTeRLY magazine

This is my first address to all of you in the Quarterly since assuming as Chairman on May 4th. Although our business environ-ment is challenging at present and the out-look is for further choppy weather, I would like to start on a positive note. Within our in-dustry, Odfjell is today recognized for quali-ty, both within shipping and terminals. Over the years we have exerted a positive influ-ence within our industry by ‘exporting’ our high standards and technological solutions over the seven seas and to our many termi-nal locations. We also participate in trade organizations and associations to promote many issues related to HSE – thus pushing for improved environmental protection and enhanced product stewardship through the logistic chain. Just as examples, in recent years Odfjell has actively engaged in safety issues by promoting consistent rules for inerting of low flash cargo, or addressing industry issues such as the increasingly byz-antine vetting regime. We introduced double hull tankers for cargo integrity purposes long before such were required by code. And we similarly built pressure tanks at our ter-minals to minimize vapor emissions.

The recognition of being one of the leaders in our field actually imposes certain expec-tations and demands upon all of us. In my first speech on May 5th at the all employee meeting in Bergen, I reminded everyone of the virtues and necessity of the Plan Do

Check Act cycle, which visualizes the pro-cess of continuous improvement. With the change of Chairman, I stated that this is a natural moment for a Check or evaluation of the state of our Company. We need to es-tablish a common understanding of where we stand in order to plan our path forward. As part of this Check, we prepared a survey amongst many of our managers from tank-ers, terminals and corporate headquarters. The results of this survey set the agenda for a two- day management seminar where we attempted to touch upon several of the ‘hot-test’ issues, either because these indicated most dissatisfaction with our performance, or issues where we internally appeared to have a lot of diverging views. In other words, we wanted to hear about the issues in an open forum or alternatively, we wanted to dispel differences between perception and fact.

Certainly, one of my principal expectations to all of you is that we as a company should be willing to confront the brutal reality of our performance, however, unpleasant such reality may be. Only by recognizing our shortcomings or any unsafe conditions or acts, can we actually do something about it. So, let us not fool ourselves and/or our col-leagues. That is dangerous business.

Of course, the seminar reinforced my con-viction that Odfjell possesses a tremendous

depth of competence, experience and spirit within our worldwide organization. But cer-tainly we can improve how we work together across business units or departmental divi-sions. During the seminar, there was men-tion of our capability to think out of the box to creatively come up with new and better ways of conducting our business or engag-ing in new business. As a squash player, I could not help but think about all the cre-ativity and room for play that I enjoy within a white box… I encourage all of you to also ‘think within the box’ of Odfjell – we have plenty of room for improvement of our often complex and interrelated processes. In other words, I hope you will find the pursuit for better alignment of our goals and combined work to also be both a source of creativity and motivation. It certainly is a challenge, especially as we have grown into a large and far flung organization.

In an increasingly competitive industry such as ours, we need to also Act and be willing to make necessary changes to both our busi-ness model and organizations, if needed. But as many a wise man has said: If it ain’t broke, don’t fix it. We will see.

In the meantime, stay safe.

Laurence W. Odfjell

ChaiRman’s message

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LANDMARKS ODFJeLL QUaRTeRLY magazine

It is a year of farewell for some of our old ladies. One of them is Bow Power. The plan of recycling was unexpected. She will be remembered as a precious lady, with whom romantic hours have been spent and golden times have been shared. It is sad to say, we are the “Fortunate 21” who brought her in to Alang Beach in India, on her final farewell voyage, to set her back where she now belongs, a “dust of steel”. Aloha Bow Power

Bow Power and the “Fortunate 21”By Capt. Deyro, Bow Power

Unfortunately this record ended while doing a shortcut during a period which was very intensive and very busy. Accordingly, to prevent accidents and in particular personal injuries, OTK maintained focus on preventive measures, implemented several preventive initiatives to develop an attitude towards safety in all parts of the organization that we all were pushing in the same direction.

Due to above efforts, we could again celebrate 760 days without LTI March 19th. At the time of writing we have reached above 820 days, and our efforts will certainly

continue. This result was not only achieved by the contribution of the QHSE department, but was made by the high safety spirit of all our employees. It goes without saying; only by keeping our people away from accidents, we can maintain a harmonized organization and happy families.

OTK’s previous LTI record of 1598 days ended by a shortcut. Lesson learned is that shortcuts are not allowed from a personal safety perspective nor for OTK’s safety performance or the Company in general. Stay safe and take care!

760 DaYs WiThOUT LOsT Time inJURY By OTK’s QHSE team

Internal efforts• Case specific internal safety training regularly carried out for our shift operators and other relevant personnel. • On-site inspections done every six weeks. During these inspections, which are of very practical nature, the entire terminal is inspected and inappropriate conditions are noted down and pictures taken. Each item is discussed and solutions found during bi weekly Management Team meetings. • Internal QA audits twice a year, which is above the ISO requirement.

Corporate efforts• Inspection teams from Odfjell’s terminal HQ visiting us once or twice a year. These inspections are carried out on-site; a practical part to see that we do according to our procedures, and the office part for auditing the paper and documentation. Being part of Odfjell’s worldwide Terminal network assist us keeping the standards as required.

International standards• OTK is yearly being assessed and certified to meet the requirements of ISO 9001 (Quality Management) and ISO 14001 (Environmental Management) standards. OTK is also a member of Chemical Distribution Institute (CDI-T), and is therefore audited every three years under this scheme. The details from the inspection are completed in the CDI-T database, for our customers’ easy availability and screening, as and when required.

Governmental requirement• We also comply with the standards required by Korean laws and regulations. Various government bodies carry out regular inspections and audits related to Health and Safety, Environmental compliance and Fire and Explosions prevention compliance.

iniTiaTives and effOrTs implemenTed aT OTK:

In June 2002, Odfjell Terminals (Korea) (OTK) commenced Loss Time Injury (LTI) recording as required by the Korean Occupational Health Law. We achieved 1598 days in middle of February 2008.

The crew of Bow Power

Odfjell Terminals (Korea)

Bow Power is ending her days in Alang, India

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Application management and SAP Basis services are run out of Odfjell Head Office in Bergen. The infrastructure is scaled for high availability 24/7. The TMS provides com-plete contract management and an order to invoice workflow. SAP Customs handling is integrated with automatic creation of cus-toms documents. Sophisticated algorithms for unit of measurements and volume cal-culations are also embedded. Environment, Health & Safety and Dangerous Goods Regulations are other important integrated components.

The go-live in RotterdamThe OTR cut-over was lead up with a train-ing programme of several hundred indi-vidual training sessions covering all the different user groups. Six weeks before go-live all OTR contracts were added to the TMS system. One week before the go-live all master data was uploaded into produc-

tion. In the last weekend of February a test cut-over process was executed. During cut-over all book stock and physical stock was transferred to TMS. With the positive result from this, OTR’s management team gave the final go-ahead. All the pre-determined cut-over steps were then executed through the night. At 12:30 3rd of March the physical and book stock was approved in production by business experts. 4th of March terminal management confirmed to continue with TMS go-live. The fall back window to the old systems was then closed, in other words, this was the point of no return

Outstanding achievementThe first seven days after go-live was fore-seen as a day and night war-mode period for business and the support teams. Person-al commitment and intrepidness was in this period played at all layers of the organiza-tion. A good example is the forwarding de-

Largest TMS roll-out so farThe terminal management project (TMS) objective has been to replace local legacy systems at the individual Odfjell termi-nals with one corporate solution. The project has a global roll-out programme for the entire Odfjell terminal business, subject consent of partners in some joint ventures. Our Houston terminal, OTH, has been in production since 2008. The TMS system has been in production at Odfjell Terminals (Rotterdam) (OTR) since the 3rd of March. This is the largest roll-out of TMS so far.

By Tor Jürgensen and Tom Hagesæther

The TMS implementation team at OTR

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partment. On the first day, this department struggled to get 20 trucks processed in 20 hours. Within four business days, they were close to normal operational performance as before the cut-over. At the waterfront close to normal performance was achieved from day one. This is an outstanding achieve-ment. Customer Service, Planning and Cus-toms did a remarkable job by transferring all nominations manually from the old system to TMS at the first production day.

In order to have a successful “TMS go-live” pe-riod without too much disturbance of the core business, two support teams were in place dur-ing OTR go-live: an “On the Job Support Team” (focus on user support) and a “Quick Response Team” (focus on incident handling). This ap-proach has been quite successful. Since Eas-ter these support teams have gradually been replaced with a permanent support structure which consists of the following levels:

- 1st line support to be provided by local Key Users. - 2nd line support provided by local ICT. - 3rd line application support provided by Corporate ICT. - 4th line of support is provided by SAP Application Management Services.

The local 2nd line is currently handling and structuring the majority of the incoming is-sues. The local support is well structured and well performing. The communication and integration with global support is well organized. The application support team offers the permanent structure for 24/7 sup-port within the Odfjell line organization.

The replacement of a terminal’s core ICT support system is a risky and difficult opera-tion. The first weeks after the cut-over de-manded focus and hard work. This included in some cases, as anticipated, delays and slow performance.

Not too badThe switch from the old to the new TMS system went smoothly. However as with new systems of this size there will always be some challenges in the first period of opera-tion. The Odfjell ICT and the project organi-zation will continue to work with full focus to resolve any issues that may arise.

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Odfjell brings additional ships under Norwegian flag

Odfjell are in the process of bringing five vessels into the Norwegian International Ship Register (NIS).

The vessels are Bow Brasilia (5,870 DWT/built 1997), Flumar Brasil (51,000 DWT/2010) and the multitank vessels Bow Balearia (5,870 DWT/1998), Bow Bracaria (5,941DWT/1997) and Flumar Aratu (13,834DWT/1997).

Odfjell took delivery of Flumar Brasil in April from SLS Shipbuilding Co Ltd, Korea. The change of flag on the other multitank vessels is due to the relocation of chartering, opera-

tion and ship management from Germany to Bergen. The change of flag of Flumar Aratu is due to the cancellation of a bare boat charter agreement with Flumar.

Odfjell will eventually have 27 vessels regis-tered in NIS, and is today the largest employ-er of Norwegian mariners under the NIS flag.

- If we see the shipping industry getting more stable conditions in the future, we will con-sider increasing our number of vessels in NIS, says Jan A. Hammer, President/CEO Od-fjell SE.

The consolidated gross revenue was USD 10 million lower than the 4th quarter last year, positive results from bunker escala-tion clauses and hedging contributed USD 14 million. Operating expenses was USD 14 million lower as permanent cost saving ini-tiatives became effective. We expect operat-ing expenses to remain at this level or lower.

Our administration expenses remained stable as we have stringent cost saving ini-tiatives in place. Net interest expenses are

lower as we are able to take advantage of lower interest rates and the elimination of the Norwegian tonnage tax liability.

We have sold five coated vessels for recycling during the 1st half of 2010.

In February we took delivery of MT “South-ern Jaguar” under a two-year time charter for worldwide trading. In April we took delivery of MT “Flumar Brasil”, a 51,000 dwt IMO III product tanker, from the SLS yard in Korea.

We are confident that the tank terminal re-sults will remain strong on the back of the successful expansion programme, a solid contract base and continued strong demand for storage and terminal services.

We foresee improved 2nd quarter activity in certain trade on the shipping side, but the pressure on freight rates is expected to con-tinue as competition remains fierce.

COnTinUeD Weak ResULT in The 1sT QUaRTeR OF 2010Early May the Odfjell group released its 1st quarter 2010 results. The net result showed a loss of USD 4 million amid weak earnings on the parcel tanker side due to lower freight rates and lower volumes. The tank terminal results however remain strong.

By Tom A. Haugen

Flumar Brasil

Bow Bracaria is one of the multitank vessels that will change flag to NIS

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Arbitration awardOdfjell has been notified that Sevmash will not pay the amount awarded in the arbitration case voluntarily. Odfjell won the arbitration case against the Russian shipyard in which Odfjell was awarded USD 45 million including refund of expenses.

Unfortunately this means that Odfjell has to formally seek enforcement of the award through the courts in Russia. The time-frame of this process is difficult to assess and it will lead to a delay in receiving the full payment. However, an interest rate of 8.5 percent p.a. as from 30 December 2009 will be added.

The Norwegian government assists Odfjell Odfjell made contact with the Norwegian authorities in April to seek guidance in this process against a corporation fully owned by the Russian State. In May, The Odfjell versus Sevmash case was the only theme on the agenda during a meeting between the Norwegian Minister of Industry, Trond Giske and the Russian Deputy Prime Minister Viktor Zubkov. According to the Norwegian newspaper, Dagens Næringsliv, the Russian response to the case was positive and stated that there will be a new meeting in St. Petersburg in June.

- The only thing new since last year’s bank presentation is that we are one year closer to a recovery from the financial crisis. But we still do not know when it will happen. This was the opening words of the Head of Shipping in Nordea, Thor Erling Kylstad’s speech at the annual Odfjell bank presentation in May.

- The competition tends to harden and many shipping companies suffer severe economical losses. However, on behalf of the banks present-ed here today, I am confident that Odfjell will re-main one of the most solid and sound shipping companies also after this crisis, Kylstad contin-ued.

32 representatives from 17 different banks joined Odfjell for this event, followed by a dinner at the Fløien Restaurant.

sTROng bankeR COnFiDenCe in ODFJeLL

From left: Tom A. Haugen, VP Finance Odfjell and Thor Erling Kylstad, Head of Shipping Nordea at the dinner at Fløien.

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But this was not done in a tick. Laurence had other plans than being part of the family busi-ness. - Following Dan’s first request, it took two years before I decided to leave my work as ar-chitect and join the family business. Then a long time of training started to be qualified to the po-sition as, Chairman of the Board, Laurence says. Quarterly April 2008 edition further expands Laurence way to the top.

You have had a thorough training within Od-fjell for many years. Do you now feel ready for the position as Chairman of the Board?- The only possible answer to this question is affirmative, because otherwise I could not have accepted. Of course, the readiness for such position is not so much based on me as an in-dividual, but rather how I insert myself into a composition of fellow board members. In other words, the shareholders and the Company can count on the combined experience of my fellow board members. And I must add that we are very happy that our outgoing Chairman, my father, has accepted to continue contributing to the Company by staying on in the Board, says Lau-rence. What will be the main focus for the Board in the near future?- It would be premature to properly answer this question at this point, because the Board in its new composition has not had a chance to meet and discuss. This will happen in Mid June when the Board will have its annual strategy session. In connection with the change of Chairman, we gathered management from our worldwide organization in a two day seminar to openly dis-cuss our ‘state of the union’ and what steps we should be taking going forward. Based on this review, Management is preparing the agenda and recommendations for what should be Od-fjell’s main focus going forward. Of course, in any change of organization, the Board needs to ensure that we have the right organizational structure and the right composition and players within top management, he explains.

Odfjell SE has had an enormous expansion since the start four generations ago, how do you feel about filling the shoes of your prede-cessor?- Most politicians and managers when ap-pointed to high office or position, typically state that they feel a great sense of humility and re-sponsibility when assuming office. So I fear that anything I say may sound like a cliché. I most certainly feel the weight of carrying on the work of my father, grand father and great grand fa-ther. I also feel very privileged that I have been entrusted with this responsibility. Needless to say, it is ‘impossible’ for me to replace one to one my father, who was one of the pioneers in the chemical parcel tanker industry and also pioneered our tank terminal activities. But, the Company and our particular industry are in very different stages of development today than what my father faced when he started out. So, we do not pretend or believe that this is a one to one replacement. I want to emphasize that I do share with my predecessors a long-term view for our Company, one that strives for a long-term competitive return on investments for all the shareholders. And underpinning my goals, I hope that after my tenure, I can ‘hand over’ this Company to my successor in sound condition.

We have left some rocky quarters behind us, how do you see the future and how will Odfjell further adapt to this roller coaster of a financial crisis? - First of all, I foresee more rocky quarters ahead of us. Odfjell acts on the global arena and the debt crisis will, in my view, impact demand and thus also trade in many regions – the question is not whether there will be an impact, but how strong, how widespread and for how long. Our industry is quite capital intensive, so we will have to scale back our expansion ambitions (at least temporarily) in order to ensure that we do not overstretch our capacity in the event that very negative scenarios play out. Odfjell has a robust business model due to our versatile and flexible fleet and also due to our terminal busi-ness, so I am confident that we will be one of the players left standing. Fortunately, our business model has the flexibility for us to adapt and take necessary measures to reduce downside risk, Laurence ends.

ReaDY FOR The big ChaiR

Name: Laurence W. OdfjellPosition: Chairman of the BoardNationality: NorwegianPlace of residence: Rotterdam and Singapore

1984-1993:Architectural studies at Yale University, Master of Architecture 1995-2000: Designed the new Odfjell winery in Chile. Opened his private architectural firm; Arquitectos Anónimos2000-2003: Terquim, Chile – first Commercial Manager, later as General Manager at the terminal.2003-2006: Sao Paulo, Brazil - project manager at regional headquarters for Associated Terminals. Simultaneously, he completed a new winery project.2004-2007: Board Member in Odfjell SE 2006: Sent to Singapore to learn shipping basics.2007-2010: President Odfjell Terminals BV.2010:Chairman of the Board.

At the Annual General Meeting Mrs. Marianna A. Moschou and Mr. Ilias A. Iliopoulos resigned as Board members following ChemLog Holdings Ltd sale of their A-shares in March 2010. Bernt Daniel Odfjell and Christine Rødseter were elected as new Board members. Odfjell SE would like to thank Mrs. Marianna A. Moschou and Mr. Ilias A. Iliopoulos for the excellent work they have done on the Board since 2003 and 2008 respectively.

By Margrethe Gudbrandsen

At the Annual general Meeting 4 May, Dan Odfjell stepped down as Chairman and gave the chair to his son Laurence W. Odfjell, who was elected as the new

Chairman of the Board.

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Christine Rødsæther has not yet attended any board meetings, still she has a strong impres-sion of Odfjell. –The Company appears to have a strong and highly competent organization pro-viding the fully integrated services to its world-wide client base efficiently and with high qual-ity safety and environmental standards. These are all elements needed for continued global leadership within the market segment. Odfjell does also appear to be highly focused on CSR, using its leading position to improve industry standards relating to safety and environmental issues, she states.

Heavy luggageChristine has a solid juridical background. She is a lawyer/partner with Vogt & Wiig, and has specialised in shipping/maritime law, includ-ing shipbuilding contracts, sale and purchase of ships, charterparties, issues relating to ship design, ship financing including sale and lease back. She is currently head of Vogt & Wiig’s ship-ping and offshore department.

Challenging timesRødsæther climbs on board Odfjell in rough wa-ters. - Odfjell faces challenging times. At board level, with enhancement of shareholder values and the financial results being the core, focus should be on strategic challenges and principal

issues for the group, reviewing and if necessary adjusting the goals and objectives. This means that in addition to reviewing the group’s systems ensuring operation of high quality, safety, and environmental standards, focus should be on cost control with active use of key performance indicators and how the synergies between the different group companies best can be taken out. In addition, it should continuously be as-sessed whether the Company’s equity base is as required for the Company’s strategy and the debt financing in line with the market condi-tions, she says.

Family orientedChristine recharges her batteries while spend-ing time with her family in her spare time. She enjoys outdoor activities in the mountains and by the sea summer and winter, in Norway and abroad. In particular, the family enjoys spending time in their house in Italy, absorbing the Italian culture. She also finds peace through travelling, music, reading and theatre.

Welcome to our new Board member!

Name: Christine RødsætherBorn: 1964Status: Partner, three childrenPlace of residence: OsloNationality: Norwegian

Terje Storeng, held a very positive and personal speech to Dan Odfjell at the Annual General Meeting 4 May. He thanked Dan for his indomitable eager for the business, seeking opportunities where other overlooked and for having strong faith in his projects and ideas. And we all know he succeeded!

Dan Odfjell, who pioneered in the chemical parcel tanker industry and our tank terminal activities, handed over the Chairman’s chair to his son Laurence W. Odfjell.

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In a user survey (January 2009) 71 % of our 300 respondents from all parts of Odfjell reported that they use the intranet daily or several times each day. – I hope the user will find the new Odfjell Insite useful, easy to navigate and up-to-date, says Arne Sletten Helgesen, the Project Manager for Odfjell Insite.

Critical success factorA critical success factor for Odfjell Insite will be its ability to present relevant trustwor-thy information. – We have appointed and trained responsible editors and publishers all over the organization. A total of 46 pub-lishers have been trained. The task of the ap-pointed editors and publishers is to update and publish useful information for everyone, says Margrethe Gudbrandsen, Communica-tion Manager. A “How to use the Odfjell In-

site guide” is made available on front page of Odfjell Insite.

- We constantly need to develop and im-prove Odfjell Insite so it fulfils the need of the Odfjell organization. We can expect that changes and additional content will be im-plemented and presented in the future, says Helgesen.

Collaboration sitesThe technical platform for Odfjell Insite also makes it possible to create collaboration sites. Such sites will make it easier to share information, tasks and documentation across business units and locations. – Cur-rently we have a strong focus on preparing Odfjell Insite, but over 50 employees on dif-ferent location have been trained on how to use the collaboration sites, says Helgesen.

ODFJeLL insiTe ReaDYOdfjell Insite is about to be launched

these days. We are now migrating from three existing intranet solutions

(Houston, Rotterdam and existing Corporate) into one single

corporate intranet for the entire Odfjell organization.

Incredible volumes of spam mail

Our ICT systems stopped 1,142,937 emails as spam in Q1. If each user wasted just 5 seconds to check and delete each of these, the organi-sation would have used 1587 working hours checking spam in the period. In other words, without effective anti-spam tools the business would have risked wasting over 200 working days manually deleting spam messages! Spam is not just a nuisance, it is a direct risk to cor-porate business productivity.

Margrethe Gudbrandsen Communication Manager and Arne Sletten Helgesen Project Manager are looking forward to launch Odfjell Insite

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More expansion in Korea

Odfjell Terminals (Korea) will start new construction of storage tanks around July 2010.

The total is 63,120 cbm in 15 tanks and the project will be completed around 3rd quarter 2011. We will revert with fur-ther details on a later occasion.

In March Odfjell Terminals (Houston) started the construction of the Bay 17 expansion of two carbon steel tanks of total 10,700 cbm.

The tanks are going to be built similar to the bunker tanks. They will look and perform similar to the bunker tanks but are slated for chemical storage. The project is scheduled to be ready in September this year.

We are digging in the dirt again

Remove dirt with engineered fill capable of supporting the tanks

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BRIEFINgS ODFJeLL QUaRTeRLY magazine

May 20-21, 35 members of Odfjell top and middle management gathered for a semi-nar in the idyllic village of Bekkjarvik in the islands of Austevoll, south of Bergen. The main purpose of the meeting was to address a number of issues of current in-terest, but in addition a good opportunity for some management teambuilding.

This was also the first chance for the newly appointed Chairman of the Board Mr. Lau-rence W. Odfjell to meet with most of man-agement jointly. Unfortunately, due to other pressing engagements and because of dis-ruptions in the air traffic by Icelandic ash-clouds, five invitees were prevented from at-tending the seminar. Yet, some of our major overseas locations; Houston, Brazil, Dubai and Singapore, were represented.

With only two days at disposal, there wasn’t time to go through all aspects of our com-pany from A to Z. To make sure focus of the seminar would be on the most important topics, the summit delegates had taken part in a pre-meeting survey mapping their opinions on a large number of statements about the Odfjell organisation and the way we operate and run our business. Based on the survey feedback, President/CEO Jan A.

Hammer and Chairman of the Board Lau-rence W. Odfjell put together a comprehen-sive programme covering a wide range of current subjects.

The first day was dedicated to the present situation and particular challenges to Odfjell. Naturally, safety was on top of the agenda; Port Captain Odd Magne Vik shared his expe-riences after an accident in January this year, emphasizing the crucial importance of safety and quality thinking throughout. Laurence W. Odfjell presented his views on the integrated management cycle, stressing the need for bet-ter alignment of objectives by all employees at Odfjell to improve our bottom line. Before lunch there were group sessions on coopera-tion and communications, based on business cases involving Ship Management, Operations and Chartering. In the afternoon the meeting turned to the new intranet platform Odfjell Insite, to cooperation between tankers and terminals including the somewhat contro-versial topic of internal pricing, and to qual-ity management issues. The final topic of the day was human resources management, with group sessions on leadership, on career devel-opment and succession planning, and on Od-fjell’s salary adjustment process; subjects that sparked lively discussion.

During the second day it was time to look ahead. After a brief view of the market out-look and our financial constraints, the group discussed our experiences with the time charter fleet. The main item of the day was group sessions on various aspects of Odfjell’s business model. Finally, the new Chairman of the Board closed the seminar with some summary remarks.

The seminar covered a number of crucial subjects to Odfjell, and discussions were characterised by openness, enthusiasm and considerable headroom. The opinions expressed are valuable input to further de-velopment of Odfjell and our operations and thus, this was two days well spent.

Bekkjarvik management workshop

Some of the attentive delegates during one of the plenary sessions

Following a long day of busy discussions the whole group went sailing along the island on an old sloop, an appropriate mode of transportation and a very nice voyage despite the rather cold northerly breeze. After dinner

the discussions continued into the late evening, alternated by good stories and jokes

By Klaus Walderhaug

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To assure our clients’ needs and requirements, modern innovations in our training technology are being adopted at the Odfjell Academy. Simulation-based training is deemed the best and most effec-tive learning tool.

Proper learning and training of crew is very important and essential to Odfjell. Simulation-based training maximizes the training investment for the Company as it provides deeper and more lasting learning impact. Odfjell Academy, as an in-house training center, is basi-cally concerned with the quality of the training offered to our crew. Instructors are pedagogically equipped with necessary information needed regarding course developing and conduct.

The differenceThe focus of simulation-based training is on knowl-edge and skills application. The students/trainees are placed in virtual reality for much better teaching meth-od. With the use of simulation in various training, re-tention and knowledge-level increases and stimulates the learners/trainees to think more logical and analyti-cal. It also motivates and leads to better performance by doing the job efficiently. The non simulation-based training or the conventional training method focuses on imparting lectures, theories or abstract knowledge. This may lead to rote learning or learning through memorization without understanding the significance of what is being taught. Based on these testimonies, it is proven that learning by its nature is a holistic pro-cess; it is not confined to the four corners of the class-room. Learning does not only mean mastery of com-plex theories with certain techniques but also mastery in human interaction, sourcing of information and enforcement of knowledge gained. However, it is quite understandable that learning process may be affected by the behavior, working environment and other ex-ternal factors.

On board applicationAside from simulation trainings, we have hands-on and computer based training on board. All deck end engine officers have a personal Training and Performance Re-cord Book (TPRB) which is important documentation of all training which has been completed. The Odfjell Academy is continuously giving all its effort and perse-verance in imparting the best way of learning among our crew. Real life on the job training are being applied for the enhancement of knowledge. It is our goal to de-liver the course effectively and ensure follow-up train-ing are done for professional growth and development of our crew.

Simulation-based training at Odfjell AcademyBy: Capt. Fidel N. Perez & Janelve C. Ramos

Simulation training at Odfjell Academy

1. How effective and beneficial is the simulation-based training including hands-on and real training equip-ment?

CE LEO J. GEGAJO- The use of simulators in training closes the gaps between theory and practice. A simulator when employed in an examination offers a solution to the problems of skills, competency and higher levels of assessment. It is one of the best procedures that put a person in an active role, duplicating, as much as practical, some aspects of reality. Simulator must offer the best fidelity for the right scenario being developed and the whole assessment process must be valid, reliable and objective. Simulation technology is continuously advancing, therefore it is necessary to upgrade and renew its system and functionality.

3M ErAñO NAzAr- It is very effective and beneficial be-cause we can apply right away what-ever we have learned theoretically. It will give us a chance to practice and learn things before doing it on ves-sel.

2. How will you compare simulation-based training to non-simulation or conventional training method?

2M MELY JuNIO- Both of these methods enable us to learn but the only difference is that in conventional training you are plan-ning in advance, while simulator-based training is applying what you have planned.

ELEC rHANNEL P. ALABA- Simulation-based training is more understandable rather than the con-ventional because we see the actual movement of the process.

Students about the simulation training

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Contributor: Suggestion:Mariners: CAP Anders Borgstrøm Reduce freeboard to increase DWTCHE Per Arild Bjørgen Reduce Aux. Running hours training of deck officersCHE Bjørnar Bjørit Install small deck wash pump (fire line)CAP Anders Penna Revise procedure for stripping of cargo pumpsCAP Anders Penna Use smaller connection 2” on Annex II overboardCAP Anders Penna More durable hydraulic hoses to be usedCHE Bengt Erik Gille ME Sea Water Cooling to be lead to butterworth heatersCHO Odd Arne Hansen Revision of cleaning procedure for high/low viscosity cargoCAP Trevor Northage Reduce printing (ink) costCHS jimmy K. Shavez Better control of provision expiry dates Office employees: Bjørn ydse Install plug-ins for electrical carsEinar Øye Replace paper archives with electronic archivesHenning Løseth Coordination of database information maintenanceMatt Duke Improve routines for and control of purchase of stationary itemsTrond Teigland Implement systematic post-voyage analyses

The vessels prize winners are:

VaLUe FOR mOneY - the first prizes awardedBy Klaus Walderhaug

The committees reviewing the various VFM suggestions have now awarded the first initial prizes. In most cases the implementation is still being evaluated by the relevant units. Hence, the com-mittees have rewarded good ideas with a preliminary token sum, obviously with the purpose of raising the prize sum if the suggestion should be implemented and proven valuable.

Although quite satisfied with the par-ticipation so far, let us emphasize that we welcome many more suggestions for improvement. We are confident that there are colleagues at sea and ashore who have ideas that really would make a difference to Odfjell and the way we operate. Perhaps that is you?

Earlier this year, Odfjell launched the Value for Money (VFM) campaign to gather good ideas lead-ing to smarter and more efficient work. So far we have received more than 40 suggestions from the office employees worldwide, in addition to more than 20 contributions from our colleagues at sea. The range of suggestions received is quite wide, including cost savings, efficiency gains, safety enhancements and improvements benefiting the environment.

Reduced freeboard to increase DWT is one of the suggestions in the value for money campaign.

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Asia Pacific summit in the FjordsBy Siri-Anne Mjåtvedt

During the last week-end in May, the Asia Pacific group held a summit in scenic Flåm, situated at the end of the 220 km long Sognefjord. Flåm is about 2.5 hours by car from Bergen and is one of the major cruise ship destinations in Norway.

In addition to the Asia Pacific chartering team in Bergen and representatives from operations, we were joined by colleagues from Tokyo, Seoul, Shanghai, Singapore, Durban and Sao Paulo. We enjoyed two days of interesting presentations, good and fruitful discussions as well as valuable socializing. Prior to and after the summit, our guests also spent time in the Bergen office, catching up with colleagues in dif-ferent departments. The feedback from the participants were all on a positive note, and we shall bring this experience with us in our daily work going forward.

We took us a time out for sightseeing on the fjord including a trip to the neighbouring arm of the Sognefjord, the Nærøyfjord, a UNESCO World Heritage Site

NOCT teambuilding session

By Samantha Wei Xu

To further improve internal communica-tion within the new-built organization in NOCT, a two-day teambuilding/motivation session was arranged at Hatta Fort Hotel, Dubai on 16-17 April.

All employees were actively involved in the programmes also resulting in good ideas to further solidify our new organization. With no exception, all employees believe the teambuilding significantly has broken down communication barriers and brought employees a lot closer to each other.

First row from left: Henning Werner Nielsen, Khalil Talib, Anne Liv Røstøen, Hallvard Edvardsdal, Arvid Holt jensen, Gareth Williams and Siri-Anne Mjåtvedt.

Second row from left: Bente Stangeland, zhu Guohe and young-Kyou Ha. Third row from left: Melbourne Pinks, joao Augusto Scassa Neto and Ken Kurihara.

Fourth row from left: Ove Nygård, Karl Henrik Berge and Per-Ove Sjåstad

From left: Subhash Shetty, Fredrik Sandrud, Noemi Larsen, Trond Eirik Hasselo, Ali Al Farsi, Med Sayadan, Irene De Klerk, Malcolm Chetty. In front: Tore Vågenes

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QHSE ON THE AgENDA ODFJeLL QUaRTeRLY magazine

It is well known that piracy has been around for centuries and makes flash-ing news and popular stories. In modern time armed robberies in ports or coastal states with poor control in combination with poverty or political unrest have been the major concern for ships. This is something we have been and still are faced with to a various extent in different parts of the world.

But in 2008 something changed. Hijacking of ships and crew for ransom started off the coast of Somalia, increased in volume and migrated into the Gulf of Aden. In late 2008 the scale and success rate of piracy in the Gulf of Aden reached a level that made Od-fjell decide to avoid the area and sail around Africa. The Gulf of Aden is however, a limited sea area in a key trade lane. Navy ships from several nations came in and gradually gained some control and we resumed our sailings. An acceptable frequency of convoys and protected group sailings has improved the level of comfort in the Gulf of Aden. Use of aforementioned services may cause delays, but the safety of crew and ships must always come first. A negative result of the increased naval presence in the Gulf of Aden is that the pirate activity, which raises and falls with the

strength of the Monsoon, has migrated back to where it started. But instead of being an off-shore issue that could be avoided by sail-ing restrictions, it has spread so deep into the Indian Ocean that we can no longer avoid it by sailing around Africa nor by staying far off the African coast. This is the present situation.

At Odfjell we have about 100 Gulf of Aden transits yearly, time chartered ships includ-ed, so we are significantly exposed. Further, the piracy problem has been around for so long and taken such “industrial” propor-tion that it has settled as a strong concern for our sea-farers, their families and us. The ships are asking for proper protection and some even ask for arms or armed guard. Not arms to fight or deter piracy, but as last resort of self defense. Most stakeholders like IMO, Underwriters, Flag States and rel-evant industrial groups advice against arms on commercial ships unless it is under naval or flag state control. The aforemen-tioned groups have made a joint advisory document called Best Management Prac-tice which contains various passive defens-es and are acknowledged as an industrial standard. At Odfjell we monitor the situa-tion closely and have implemented most of the advice from these groups in our own security procedures.

Pirates are reportedly a mixture of soldiers and fisher-men and the numbers of pirates and the number of active mother-ships are limited when compared to the naval resourc-es in the area. The ransom money and subse-quent financing of the activity are increasing and the pirates seem to adapt quite well to the navy’s change of focus or tactics. In our opinion the authorities should fight piracy more forcefully, i.e. eliminate mother-ships and detain the pirates, instead of leaving it to the individual owners and innoncent seafar-ers to adapt to the problem. As our former Chairman Dan Odfjell wrote to one of our seafarers; this is not a problem that Odfjell can solve alone and we do whatever we can to influence the authorities to attend to the problem in a stronger fashion. Experience shows that if the ships follow the procedures and guidelines the chance of be-ing hijacked is significantly reduced. Further-more, if the owner or manager of a ship that is hijacked promptly starts active negotia-tions with the pirates, the ship and crew will be released unharmed within a reasonable time. But we understand that being in the hands of unlawful pirates are a terrible situ-ation and at Odfjell we will do all we can to comfort the crew and their families and solve the situation.

mODeRn Time piRaCYBy Toralf Sørenes

Preventing measures Pirates operating outside East Africa have expanded their area of attacs deep into the Indian ocean

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QHSE ON THE AgENDA ODFJeLL QUaRTeRLY magazine

Systematic HSE work and a sound HSE culture are essential to Odfjell. In March an HSE course was arranged for the top management in Bergen.

The Norwegian authorities have deter-mined that all managing directors (presi-dents) in Norway must undergo a manda-tory HSE course with minimum content and predefined themes. Odfjell’s President Jan A. Hammer therefore decided that the Odfjell Tankers Management Group should also join this course, which was tailored to cover the minimum requirements and in-ternal needs. It was held as two modules, an introductory module on rules and regu-lations and a main module focusing on the HSE culture.

- One of the most im-portant themes and discussions were how the Odfjell organiza-tion can assure a good reporting culture by practicing a non blame culture. Experience feedback and lessons learned are also key

factors. It is important that everyone in the entire Odfjell organization takes ownership, not at least top management, says Morten Nystad, SVP Odfjell Tankers Chartering.

Morten Nystad

hse aWaRenessBy Bjørn Ydse

- HSE course for Odfjell Tankers Management group

Our Rotterdam terminal staff is frequently performing emergency drills. Not only at the terminal, but also at a local training center where real live situations can be staged per-fectly well. On March 23 it was Odfjell Termi-nals Rotterdam’s Shift C’s turn for a full day of fire-fighting, rescuing, working with breath-ing equipment and First Aid practice.

Emergency drill for Rotterdam terminal operators

MAIN GOALS fOr tHE HSE MANAGEMENt COurSE• Increase the skills on how to work systematic with HSE• Assure that the employer attends to the work within HSE and welfare• Increase the skills of the environmental factors which influences the working environment• Contribute that the employer works well with the HSE work by performing dialogs and cooperation.

Pictures by Theo Kruithof

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SEA AND SHORE ODFJeLL QUaRTeRLY magazine

jetty C from Oman Refinery Tank farm Entrance to the office

Sohar, in the Sultanate of Oman, is a fas-cinating city that overlooks the gulf of Oman. It is suitably located between Mus-cat, Oman’s capital and the United Arab Emirates’ city of Dubai (only 200 kilome-ters away from each). The city of Sohar assumes its historical significance as a commercial and cultural bridge between the two countries for many decades.

Its importance as a distinguished geo-graphical location and prominent axis to the neighboring regional ports has further raised its stakes during the recent years. Based on these factors, huge development plans have been initiated which has made Sohar one of the major industrial towns these days. Many major plants in the petro-chemical sector and other industrial activi-ties have been established and the city has started to lead its way to be a key industrial area in the country.

More storage tanksOne of these newcomers who have settled in the Port of Sohar these last few years is Oiltanking Odfjell Terminals (OOT). Started building tanks and infrastructure in 2006, the company has already built many tanks of different sizes, ranging from 1.700 to 52.500 cbm, to meet the increasing demand for more storage facilities in the region. Just after completion of the first phase of the

terminal, OOT recently embarked upon a further project to build even more storage tanks. Work on these new batches is sched-uled to be finalized in mid 2011, raising the total number of tanks to 54 (from 39 tanks). This increases the current capacity from 842.500 cbm to an estimated new volume of about 1.270.000 cbm.

OOT also operates six jetties, four of which are capable of handling vessels up to 110.000 DWT and the other two jetties can handle vessels up to 70.000 DWT.

New Office BuildingOiltanking Odfjell Terminals Oman has re-cently inaugurated its new state-of-the-art office building. The architectural design has taken the Omani ambience and the country’s dominating building styles into consideration, though mixed with some touches from international blueprints. This has resulted in a very comfortable atmo-sphere for the company’s employees, which is reflected in the big improvement in their performance and morale.

OUR TeRminaL in Oman- Fast growing in a buoyant marketBy Zeger J. J. van Asch van Wijck

The OOT office

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Team 154 – Odfjell – did the RopaRun again. Our team managed the 530 ki-lometres long non-stop running-relay from Paris to Rotterdam in 41 hours 50 minutes and a handful of seconds, resulting in an average speed of 12,41 km/hour. With this time, the Odfjell team ranked 53rd from 275 participat-ing teams. We hope that our position on fundraise score list will be higher – we’re still counting.

The RopaRun is a fundraiser to control cancer and to help improve the quality of life of cancer-patients. In 2009 the joint teams raised 4,7 million Euro of which the Odfjell team and its sponsors contributed Euro 34.000.

ODFJeLL DiD iT again!

Oiltanking Odfjell Terminals is employing a mixture of multinational staff, working side by side with their Omani colleagues. As those workers are coming from dif-ferent settings, they constitute a nested cultural texture that eases better under-standing among employees. This mixture also provides a rare opportunity for the Omani staff to obtain the best on-the-job training from these international experts, know-how they apply in practice during their daily operations.

OOT has organized a number of training courses and programmes in different areas for its employees. Main focus areas have been safety and security, fire fighting, recov-ery and dealing with chemical materials.

As the Company is committed to the Sultan-ate of Oman’s so called “Omanization Pro-gramme”, OOT has been recruiting Omani citizens to fulfill highly important positions in the engineering, mechanical, electri-cal and technical arena since 2006. These people are trained in the fields of operations and on the technical side, as well as in the English language in order to improve their communication skills.

As a result of the above efforts, OOT’s Oman-ization percentage rose to 70%. This number is considered one of the highest compared to the percentages achieved by other neigh-boring companies. It further proves that Omani employees have high capabilities and potentials.

To have the opportunity to meet with the entire staff not only at the workplace, we organized an annual get-together. This year’s annual Family Day was held in February 2010, in Wadi Al A’han. It was a day full

of fun in the form of games, traditional Omani food and drinks. We all enjoyed it

Workforce Omani-styleBy Zeger J. J. van Asch van Wijck


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A day at the terminals

All operators frequently participate in emergency drills

Operator enjoying the view on top of a tank at

15 meters altitude


DReam ReaLiseD aT LasTBy Mbongi Qwabe

In May 2010, one of my long waited dreams came true. Thanks to good Captain Leif Nedregotten, Bow Favour, Mel Pinks Com-mercial Manager at Odfjell Makana and the whole of Odfjell Makarna South Africa/Phosfert Marine team, I could join Bow Fa-vour on a two-day’s journey.

I was delighted when this opportunity came my way as I joined Bow Favour’s voyage 20103 from Richards Bay to Durban. With this trip, my knowledge was enhanced as I observed officers

navigating the ship’s course/position and the crew attending to tank cleaning.

During the voyage, the seas were not rough, so my stomach was able to cope with the rolling and pitching of the vessel. Master and officers were very good to me and they responded posi-tively to all my questions. The knowledge I have gained on board will undoubtly help in the fu-ture and I wish Captain Leif Nedregotten, the officers and the rest of ship’s crew a safe voyage to Singapore.

Cleanliness of equipment is essential in our business, so we check accurately.

Safety first when connecting a hose

From left: Captain Leif Nedregotten and Mbongi Qwabe

An operator at OOT checking a valve

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DOn’T FORgeT OUR phOTO COnTesT!

The deadline for submitting pictures for the photo contest is prolonged until 15 of August. Odfjell employees all over the world are hereby invited to express their creativity and competitive spirit by participating in the contest for the best photo. Any photo, colour or black/white can be sent us, preferably in high–resolution.The best photo will be presented as the front page of Odfjell Quarterly.

Do you have a winning shot? Please send it to [email protected] within 15 August 2010.Participant in the last year’s photo contest, taken by Gunnar Eide

On February 27th at 03:34 hours a pow-erful earthquake measuring 8.8 on the Richter scale struck the central zone of Chile (Maule Region). The epicenter was situated off the coast 100 km Northwest of Chile’s second largest city, Concepcion, and 300 km south west of Chile’s capital Santiago. The actual earthquake lasted up to three minutes.

According to scientific measurements the city of Concepcion was moved three meters to the west while Santiago was displaced 24 centimeters in the same direction.

Severe damagesThe entire central area suffered damages to buildings, roads, ports and infrastructure in general to different extents. The coastal areas were also hit by tsunami waves caus-ing great damage to coastal settlements and port infrastructures. The earthquake left ap-proximately 500.000 people homeless and 486 registered casualties. Total damages

were estimated by the government to USD 24.7 billion, including the set back of Chile’s expected economic growth for 2010.

Odfjell ChileNone of our employees in Chile were hurt during the incident. Terquim Terminal in San Antonio resisted the earthquake well, whereas in the office building both elevators fell down the shaft. Our Santiago office to-gether with our agents, suffered water dam-age due to a broken water pipe.

Vopak Terminal in San Antonio where we normally berth our vessels has today a se-vere structural damage which is expected to be repaired within June/July this year. Bow Americas was the first vessel from our fleet calling the central zone of Chile after the earthquake and was delayed approximately two weeks in San Antonio due to Vopak’s damages, but also due to the general con-gestion created by the large amount of ves-sels waiting to discharge.

By Luis-Alberto Salomon

At the port of Talcahuano a ship was lifted off the dry dock by one of the tsunamis and left partly on top of the berth structure. Photo: El Mercurio/Hector yañes

Vehicles and destroyed highways in Santiago after the earthquake. AP Photo/Carlos Espinoza.

Photo Reuters/Marco Fredes

eaRThQUake in ChiLeA completely new built 15 floor building, fallen to the ground in Concepcion, a site that became one of the symbols of the powerful effect of the earthquake. Photo: Wikipedia

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IN SOCIETY ODFJeLL QUaRTeRLY magazine

Odfjell, a benefactor to the Margaretha Home for the Blind, participated at the celebration of the Feast day and the Death of and 25th Anniversary of the Beatification of our Founder, Mother Pauline von Mallinck-rodt on April 30. Mother Pau-line initiated the care for the blind of her Congregation, the Sisters of Christian Charity.

For us, the Sisters, our Lay As-sociates, our staff and residents at Margaretha Home for the Blind, the celebration is our way of Thanksgiving in her honor. It gives us the opportunity to be with guests, to meet and enjoy the company of so many friends. We appreciated the presence of our benefactors, especially Od-fjell, who regularly supports us and make it possible to continue our mission for the poor and abandoned blinds here in the Philippines.

The resident blinds delivered a song number

Odfjell Makana visits Sipucule Creche in Mossel Bay By Mpho Jaqueline Chaka

Odfjell Makana made a follow-up visit to the crèche on 28 April 2010. It was great to see that from its small beginnings in 1994, under the roof of a shack built out of wood and metal sheets, the crèche had come a long way to its new home.

Margaretha Home for the Blind celebratesBy: Sis. Maria Dolores

The first children started in the new crèche in September 2007. The crèche is registered to care for 50 children with an age range from infants who are just a few months old to six years old and ready for school. There are four teachers attending the children and a cleaner/cook.

Even with the new building we have learnt that the three classrooms are not sufficient to cater for the large number of children. The building also requires some minor

improvements to facilitate better learning conditions.

All the work that has gone into the building has been through the help of local charity organisations, businesses and donations. The visit was yet another opportunity for us to see where we can continue to offer our support. Odfjell Makana is very proud to have made a positive contribution to this community through its continuous donations and support.

Children from the local community playing next to the creche

Two of the teachers from the creche standing with Mpho Chaka Odfjell Makana and Guy Barker Rotary Club

FACTS:Margaretha Home for the Blind was chosen by Odfjell Philippines to be the recipient of the monthly monetary support through voluntary contributions from employees, seafarers and the company.

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CUSTOMER ODFJeLL QUaRTeRLY magazine

The 10th APIC (Asia Petrochemical Industry Conference) was this year held in Mumbai the 13-14th May. More than 1000 delegates from throughout the world registered for the conference, and another 500 people were mingling in the foyer of the conference hotel, The Renaissance in Powai. The conference was organised by CPMA (Chemicals and Petrochemicals Manufacturers’ Association).

APIC represents an excellent platform for networking between chemical and petrochemi-cal trading and distribution companies plus ship brokers, ship owners, suppliers, tank farm owners/operators from all over the world. The Indian economy has been quite stable show-ing great growth potential when the world is now slowly coming out of the economic down turn, and being the commercial capital of the country, Mumbai was chosen as the host city for the conference.

In conjunction with the conference Petrochem, one of our clients, organised a get-together in Mumbai on 13th May at the Grand Maratha Sheraton Hotel. Petrochem’s get-together was spot-on with more than 150 delegates from the industry attending the cocktails and dinner.

geT-TOgeTheR in mUmbai

Mr. yogesh Mehta, managing director Petrochem Dubai, is sharing some happy moments with the Odfjell India team and Hans Rabben from Odfjell Tankers Bergen. From left: Sudesh Kamath Odfjell India, yogesh Mehta Petrochem Dubai, Hetal Vaishnav Odfjell India, Hans Rabben Odfjell Tankers Bergen and Manisha Desai Odfjell India

By: Manisha Desai

The much anticipated Odfjell Champions League 2010 was held on 8th May 2010 at the East Coast Park, Singapore. This is the third year Odfjell Asia is organizing this event and a total of 15 teams took part this year. The teams were comprised of char-terers and brokers that we interact with in the realm of business.

After the opening speech by our managing director Atle Knutsen, the games kicked off in spectacular fashion! The game was 5-a-side futsal and the adrenaline was pump-ing that morning. The fast pace of the game coupled with the small pitches made for a lot of hard hitting, non-stop action.

With the World Cup just around the cor-ner, it came as no surprise that some of the teams displayed skills and performances as though they had been training for the

upcoming World Cup in June! Their swift actions, creative play and skillful passes en-sured that many goals were scored through-out the tournament. Football Association of Singapore, certified referees were engaged to maintain law and order on the pitch and prevent any over-zealous challenges from turning into all out brawls.

The defending champion for the last two years, Infineum Singapore, fought to re-tain their title relentlessly. However, it was

Chevron lifting the champions trophy for 2010. Every team enjoyed the sunny af-ternoon and many friendships were made throughout the day. - The fun atmosphere that Odfjell put together was much appre-ciated by all of us. The preparation and the flawless execution showed the profession-alism, friendliness and effort by the orga-nizing committee and we sincerely thank Odfjell for that. Thank you for giving us that opportunity, said a representative from ExxonMobil Asia Pacific Pte. Ltd.

Odfjell Asia warming up to the World Cup... Sort of...By: Odfjell Asia Soccer Committee

The Odfjell Asia Team

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CUSTOMER ODFJeLL QUaRTeRLY magazine

Odfjell sponsors Foskor F21 half marathonBy Mpho Jaqueline Chaka

The annual F21 half marathon event took place in perfect conditions on 17 April 2010 in Richards Bay, South Africa. Od-fjell was proud to be a co-sponsor of the event for the second year running.

The event comprised a 21 km run/walk, 10 km run/walk and 5 km fun run/walk and offered a challenging course with some in-teresting uphills and downhills for the run-ners and walkers. The event also served for the first time as the official provincial half

marathon championships which meant that the event would be officially recognised by athletics authorities. Odfjell Durban staff competed in different categories on the day. Odfjell Durban was proud to have their sponsored super marathon runner, Clement Nkosi compete in the event.

Overall the day was a great success with vic-tories not only taking place on the finish line but to all those who played a part in making the event a success.

From left: Mel Pinks, Clement Nkosi and Knut Holsen. Mr. Holsen took part in the 21 km road race for the first time and managed to finish in a very good time

This year over 700 runners and walkers took part in the event and this was a substantial increase from last year

At the Odfjell Reception. From left: jone Hognestad, Sarah Acosta and Paul Hexter

2010 npRaBy Recreation Committee

The National Petrochemical Refiners Association held their 35th Annual International Petrochemical Confer-ence, March 28-30, 2010 in San An-tonio, Texas at the newly built grand Hyatt Hotel. However, as tradition stands Odfjell remained at the Hyatt Regency where we hosted our annual cocktail reception Sunday afternoon.

The Odfjell reception has become a tra-dition for many attendees and even with the current NPRA location change atten-dance was up from previous years. The suite remained quite busy the next three days with numerous daytime meetings with old acquaintances as well as intro-ducing several new customers.

Among the room décor were new pic-tures of the Rotterdam Terminal and four self standing banners each one a different picture of an Odfjell ship and one large backdrop displaying an artistic image capturing Odfjell in its entirety. The General Session feature speaker was William S. Cohen, former U.S. Sec-retary of Defense, a much sought-after expert on defense, economic, and inter-national issues.

The Asia and South America markets are active even in a down economy. Imports of acetone and isoprene from Asia into the U.S. Gulf are strong with opportuni-ties for our cross selling efforts. In South America, Odfjell Tankers and Terminals continue to participate in the Brazilian ethanol market.

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RELOCATIONSFrom Bergen to Bow Chain

hjønnevåg, frode Chief Officer 01-04-10

From Oman to Houston

shynett Jr, paul Propylene Manager 29-03-10

From Bow Sky to Bergen

Taule, ina Ship Operator 01-06-10

From Bow Chain to Bergen

larsen, fredrik Marine Superintendent 01-06-10

martins morais, marceloTechnical Supervisor, Flumar 01-03-10

PERSONNEL ODFJeLL QUaRTeRLY magazine

Tvedt, else lillCoordinator Ship Operation01-06-10

røsland, Torbjørn Ship Operator 01-06-10

NEW HIRES

BERgEN

SAO PAULO

Jurgensen, uwe Johannes General Manager PID 12-04-10

ROTTERDAM

HOUSTON

noakes, KenSales Representative22-03-10

Blair, TheresaVoyage Accounting Clerk12-04-10

heil, JohnHSE Manager01-05-10

SINgAPORE

chong, chiew peng cheryl Accounts Manager 09-03-10

Bin nordin, mohamed norzaidi Ship Broker 12-04-10

IN SERVICE FOR ODFJELLOdfjell Terminals (Houston)smith, arthur mlpG Operator18-04-85

Odfjell Terminals (Houston)steinsbo, vidarcontrol room Operator12-06-85

25 YEARS

30 YEARS

Odfjell ArgentinaGomez, alejandro Joseaccountant15-04-80

Odfjell Terminals (Rotterdam)Groenenboom, pieter nicolaascustom Officer14-04-80

Odfjell Terminals (Rotterdam)pollee, antjecustomer representative 01-06-80

Odfjell Terminals (Rotterdam)schothuis, ronaldus hendrikus Jshift leader 01-06-80

35 YEARS

Odfjell Terminals (Rotterdam)Keemink, hugo1st stock administrator 01-05-75

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FLEET & TERMINALS ODFJeLL QUaRTeRLY magazine

OWNED YEAR STAINLESS NUMBERSHIPS BUILT DWT CBM STEEL, CBM OF TANKS

Flumar Brasil 2010 51 188 55 300 - 14 Bow Saga¹ 2007 40 085 52 126 52 126 40Bow Sirius¹ 2006 40 048 52 126 52 126 40Bow Sea 2006 40 048 52 126 52 126 40Bao Hai Tun (49%) 2006 3 845 4 361 - 10Bow Summer 2005 40 036 52 126 52 126 40Bow Spring ¹ 2004 39 942 52 126 52 126 40Bow Star 2004 39 832 52 126 52 126 40Bow Sun 2003 39 842 52 126 52 126 40Bow Firda 2003 37 427 40 515 40 515 47Bow Chain 2002 37 518 40 515 40 515 47Bow Favour 2001 37 438 40 515 40 515 47Bow Century 2000 37 438 40 515 40 515 47Bow Fortune 1999 37 395 40 515 40 515 47Bow Master 1999 6 046 6 878 6 878 14Bow Mate 1999 6 001 6 864 6 864 14Bow Pilot 1999 6 000 6 865 6 865 14Bow Sailor 1999 6 000 6 870 6 870 14Bow Cecil 1998 37 345 40 515 33 236 47Bow Flora 1998 37 369 40 515 33 236 47Bow Balearia 1998 5 870 5 941 5 941 20Bow Oceanic 1997 17 460 18 620 18 620 24Bow Bracaria 1997 5 870 5 941 5 941 20Bow Brasilia 1997 5 870 5 941 5 941 20Bow Cardinal 1997 37 446 41 487 34 208 52Bow Faith 1997 37 479 41 487 34 208 52Flumar Aratu 1997 13 834 15 831 15 831 29Bow Querida 1996 10 115 10 956 10 956 18Bow Cedar 1996 37 455 41 608 34 329 52Bow Atlantic 1995 17 460 18 620 18 620 24Bow Fagus 1995 37 375 41 608 34 329 52Bow Clipper 1995 37 166 41 492 34 213 52Bow Flower 1994 37 221 41 492 34 213 52Bow Eagle 1988 24 728 32 458 19 662 25Bow Cheetah 1988 40 258 47 604 - 29Bow Leopard 1988 40 249 47 604 - 29Bow Lion 1988 40 272 47 604 - 29Bow Peace 1987 45 655 52 173 2 167 23Bow Pride 1987 45 655 52 173 2 167 23Bow Prosper 1987 45 655 52 173 2 167 23Bow Fertility 1987 45 507 52 173 2 167 23Bow Fraternity 1987 45 507 52 173 2 167 23Bow Panther 1986 40 263 47 604 - 29Bow Puma 1986 40 092 47 604 - 29Bow Victor 1986 33 190 34 500 21 975 31Angelim 1985 10 259 10 136 6 500 18Araucaria 1984 10 259 10 159 6 500 18Bow Pacifico (50%) 1982 18 657 22 929 10 849 31Bow Viking 1981 33 590 40 956 21 745 36Jatai 1979 4 452 4 031 - 3

ON YEAR STAINLESS NUMBERTIME CHARTER BUILT DWT CBM STEEL, CB OF TANKS Bow Tone 2009 33 600 37 700 37 700 16Bow Hector 2009 33 694 37 386 37 386 16Southern Jaguar 2009 19 997 22 198 22 198 20Bow Sagami 2008 33 641 37 238 37 238 16Bow Harmony 2008 33 619 34 698 34 698 16Bow Cape 2008 19 971 22 158 22 158 20Bow Kiso 2008 33 641 37 215 37 215 16Bow Heron 2008 33 707 37 365 37 365 16Bow Orelia³ 2008 19 900 22 202 22 202 20Ncc Haiel³ 2008 45 953 54 300 - 22Ncc Dammam³ 2008 45 965 54 300 - 22Ncc Sudair³ 2007 46 012 54 300 - 22Bow Omaria³ 2007 19 900 22 202 22 202 20Bow Lima 2007 19 900 22 157 22 157 20Bow Olivia³ 2007 19 900 22 202 22 202 20Bow Octavia³ 2007 19 900 22 202 22 202 20Bow Fuji 2006 19 800 22 140 22 140 22Bow Ophelia³ 2006 19 900 22 655 22 655 20Bow Plata 2006 19 807 22 143 22 143 22Bow Engineer 2006 30 086 35 548 35 548 28Bow Orania³ 2006 19 993 22 050 22 050 20Bow Sky² 2005 40 005 52 126 52 126 40Bow Architect 2005 30 058 36 000 36 000 28Bow Rio 2005 19 990 21 408 21 408 22Bow Europe 2005 19 727 21 573 21 573 36Bow Santos² 2004 19 997 21 846 21 846 22Bow Asia² 2004 9 901 10 866 10 866 20Bow Singapore² 2004 9 888 10 867 10 867 20Bow Americas 2004 19 707 22 050 22 050 36Bow de Rich 2003 12 452 13 300 13 300 22Bow de Feng 2002 12 514 13 289 13 289 22Bow West 2002 12 503 13 299 13 299 22Bow Andino 2000 16 121 17 270 17 270 30Bow de Jin 1999 11 752 12 296 12 296 20Bow Jubail² 1996 37 499 41 488 34 209 52Bow Mekka² 1995 37 272 41 588 34 257 52Bow Riyad² 1995 37 274 41 492 34 213 52Bow Baha 1988 24 728 32 458 19 662 25Bow Hunter 1983 23 002 25 026 21 031 28Bow Pioneer 1982 23 016 25 965 20 969 28

number of ships: 90 2 492 004 2 859 269 1 978 812

¹ Vessel beneficially owned through financial lease. ² Vessel on bare-boat charter. ³ Vessel on variable timecharter.

as per 10 June 2010

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ON ORDER YARD DELIVERY DWT OWNER CCSIC Chongqing Chuandong Shipbuilding Industry Co., Ltd 2011 9 000 Odfjell “ 2011 9 000 Odfjell “ 2011 9 000 Odfjell “ 2011 9 000 Odfjell “ 2012 9 000 Odfjell “ 2012 9 000 Odfjell

number of newbuildings: 6 54 000

STAINLESS NUMBER TANK TERMINALS LOCATION SHARE CBM STEEL, CBM OF TANKS Odfjell Terminals (Rotterdam) BV Rotterdam, NL 100 % 1 635 000 33 000 281Odfjell Terminals (Houston) Inc Houston, USA 100 % 320 600 82 300 98Odfjell Terminals (Jiangyin) Co Ltd Jiangyin, China 55 % 99 800 30 000 22Odfjell Terminals (Dalian) Ltd Dalian, China 50 % 119 750 18 350 51Odfjell Terminals (Korea) Co Ltd Onsan, Korea 50 % 250 590 15 860 70Oiltanking Odfjell Terminal Singapore Ltd Singapore 50 % 365 000 13 520 79Oiltanking Odfjell Terminal & Co. L.L.C. Sohar, Oman 29,75 % 842 500 - 39Exir Chemical Terminals (PJSCO) BIK, Iran 35 % 22 000 1 000 18Vopak Terminal Ningbo Ltd Ningbo, China 12.5 % 65 550 7 900 38

Total owned 3 720 790 201 930 696

ASSOCIATED TERMINALS

Depositos Quimicos Mineros S.A. Callao, Peru 46 680 1 600 35 Granel Quimica Ltda Santos, Brazil 97 720 19 784 99 Granel Quimica Ltda Rio Grande, Brazil 40 800 2 900 28 Granel Quimica Ltda Sao Luis, Brazil 55 027 - 28 Granel Quimica Ltda Ladario, Brazil 8 000 - 6 Odfjell Terminals Tagsa S.A. Buenos Aires, Argentina 47 135 528 87 Odfjell Terminals Tagsa S.A. Campana, Argentina 62 980 10 188 88 Terquim S.A. San Antonio, Chile 32 840 - 25 IMTT-Quebec Quebec, Canada 293 127 5 496 54

Total associated 684 309 40 496 452 Grand TOTal 4 405 099 242 426 1148

PROJECTS AND EXPANSIONS ONgOINg NEW ESTIMATEDTANK TERMINALS SHARE CBM EXPANSION TOTAL COMPLETION Odfjell Terminals (Houston) Inc 100% 320 600 10 700 331 300 Q3 2010Oiltanking Odfjell Terminal & Co L.L.C (Oman) 29.75% 842 500 425 000 1 267 500 Q2 2011Odfjell Terminals (Korea) 50% 250 590 63 120 313 710 Q3 2011 498 820


Depositos Quimicos Mineros S.A. Callao, Peru 46 680 6 300 52 980 Q4-10/Q2 2011Granel Quimica Ltda Rio Grande, Brazil 40 800 20 000 60 800 Q3 2010Granel Quimica Ltda Sao Luis, Brazil 55 027 20 000 75 027 Q3 2010Granel Quimica Ltda Triunfo, Brazil - 12 000 12 000 Q3 2010Granel Quimica Ltda Teresina, Brazil - 7 000 7 000 Q3 2010Granel Quimica Ltda Alemoa, Santos, Brazil - 60 000 60 000 Q4 2012Granel Quimica Ltda Aracruz, Brazil - 30 000 30 000 Q3 2014Terquim S.A. Mejillones, Chile - 80 000 80 000 Q4 2010

235 300

MAIN OFFICE ODFJELL

Odfjell SE - Odfjell Tankers ASConrad mohrsv. 29, p.O. box 6101 postterminalen5892 bergen, nORWaYTel: +47 5527 0000Fax: +47 5528 4741Fax: +47 5527 9070 (Chartering/Operations)

MAIN OFFICE TERMINALS

Odfjell Terminals BVOude maasweg 6, p.O. box 5010harbour number 40403197 kJ Rotterdam-botlekThe neTheRLanDsTel: +31 102 954 700Fax: +31 102 954 719

Odfjell USA (Houston) Inc.12211 port Roadseabrook, TX 77586, UsaTel: +1 713 844 2200Fax: +1 713 844 2211

Odfjell Singapore Pte Ltd6 shenton Way, # 27-08/09 Dbs Tower 2singapORe 068809Tel: +65 6349 1300Fax: +65 6224 2285

Odfjell Japan LtdOgawa bldg. 8F2-2 Uchikanda 1-ChomeChiyoda-ku, Tokyo 101-0047, JapanTel: +81 3 3259 8555Fax: +81 3 3259 8558

Odfjell Netherlands BVOude maasweg 6, p.O. box 50103197 XC Rotterdam-botlekThe neTheRLanDsTel: +31 102 953 666Fax: +31 102 953 668

Odfjell Brasil Ltdaav. paulista 460 - 18 andarCep 01310-000 sao paulo sp, bRaziLTel: +55 11 3549 5800Fax: +55 11 3549 5808

Odfjell Shanghaisuite b, 13Fhuamin empire plaza728 Yan an West RoadChangning Districtshanghai 200050, p.R. ChinaTel: +86 21 5239 9469Fax: +86 21 5239 9897

Odfjell Dong Zhan Shipping (Shanghai) Co.,Ltdsuite C, 13F huamin empire plaza 728 Yan an West Road Changning District shanghai 200050, p.R.China Tel: +86 21 5239 5393 Fax: +86 21 5239 9897

Odfjell Argentina SAalicia moreau de Justo 1960Office no. 202 - puerto madero1107 buenos aires, aRgenTinaTel: +54 114 313 7837Fax: +54 114 313 4619

Odfjell Australia Pty Limitedsuite 4, Level 1443 Little Collins streetp.O.box 1279melbourne ViC 3001 aUsTRaLiaTel: +61 3 9642 2210Fax: +61 3 9642 2214

Odfjell Indiaa-26, nandbhuvan industrial estatemahakali Caves Road, andheri (east)mumbai 400093, inDiaTel: +91 22 6695 4701Fax: +91 22 6695 4707

Odfjell Durban (Pty) Ltd The sharaf house2 sinembe Crescent La Lucia RidgeDurban 4051, sOUTh aFRiCaTel.: +27 31 5834470Fax: +27 31 5834488

Odfjell Tankers AS, Korea BranchRoom 1815 gwanghwamum Officia bldg.163 1-ga shinmunnoJongn-gu, seoul, 110-999 koreaTel: +82 2 775 9760Fax: +82 2 775 9761

Odfjell Korea Ltd.136, Cheoyong-Ri,Onsan-eup, Ulju-gunUlsan, kOReaTel: +82 52 227 5527Fax: +82 52 227 5567

Odfjell Chilepuerta del sol 55Las Condes, santiagoChiLeTel: +56 2 3307221Fax: +56 2 3307948

Odfjell Philippines Inc.4th Flr atlantis beacon Tower2315 Leon guinto st. malate, manila 1004phiLippinesTel: +6325280341Fax: +6325262256

Odfjell (UK) Ltd14 headfort placeLondon sW1X 7DhUniTeD kingDOmTel: +44 207 823 0605Fax: +44 207 823 0606

Odfjell Peruav. enrique meiggs, 240Urb. Chacaritas,Callao, peRUTel: +51 1 614 0800Fax: +51 1 614 0801

NCC Odfjell Chemical Tankers JLTRoom 3101-3104, Liwa heightsJumeirah Lake Towersp.O.box 214459Dubai, UniTeD aRab emiRaTesTel: +971 4 440 1700Fax: +971 4 441 1701

INTERNATIONAL OFFICES

Odfjell Asia Pte Ltd6 shenton Way, # 27-08/09 Dbs Tower 2singapORe 068809Tel: +65 6349 1300Fax: +65 6224 2285

Flumar Transportes de Quimicos e Gases Ltdaav. paulista 460 - 18 andarCep 01310-000 sao paulo sp, bRaziLTel: +55 11 3549 5800Fax: +55 11 3549 5807

Odfjell Tankers Europe ASConrad mohrs veg 29p.O.box 6101 postterminalen5892 bergen, nORWaYTel: +47 5527 0000Fax: +47 5527 9070

REgIONAL OFFICES

TERMINALS

Odfjell Terminals (Rotterdam) BVOude maasweg 6, p.O. box 5010harbour number 40403197 kJ Rotterdam-botlekThe neTheRLanDsTel: +31 102 953 400Fax: +31 104 384 679

Odfjell Terminals Maritiem BVOude maasweg 5harbour number 40203197 kJ botlek-RotterdamThe neTheRLanDsTel: +31 10 2951 300

Odfjell Terminals (Houston) Inc.12211 port Roadseabrook, TX 77586, UsaTel: +1 713 844 2300Fax: +1 713 844 2355

Odfjell Terminals (Dalian) Ltdnew porteconomy & TechnologyDevelopment zone 116601, Dalian p.R. ChinaTel: +86 411 8759 5500Fax: +86 411 8759 5549

Odfjell Terminals (Jiangyin) Co., Ltd1314 West binjiang Roadshizhuangnew harbour City, JiangyinJiangsu 214446 p.R. ChinaTel: +86 510 8666 9111Fax: +86 510 8666 9110

Odfjell Terminals (Korea) Co, Ltd136, Cheoyong-RiOnsan-eup, Ulju-gunUlsan, kOReaTel: +82 522 311 600Fax: +82 522 376 636

Oiltanking Odfjell Terminal Singapore Pte Ltd1 seraya avenuesingapORe 628208Tel: +65 6473 1700Fax: +65 6479 4500

Oiltanking Odfjell Terminals & Co. Llc.p.O. box 369pC., 322 Fajal al Qubailsohar, sULTanaTe OF OmanTel: +968 2670 0300Fax: +968 2670 0306

Vopak Terminal Ningbo Ltd.no. 111 zhaobaoshan Road, zhenhai Districtningbo, p.R. China Tel: +86 574 2769 5638Fax: +86 574 8627 5931

Granel Quimica Ltdaav. paulista 460, 18° andarCep 01310- 000 são paulo, spbRaziLTel: +55 11 3549 5800Fax: +55 11 3549 5832

Tagsa S.Aav. alicia moreau de Justo 1960,piso 4 Of. 4021107 buenos airesaRgenTinaTel: +54 11 4001 9700Fax: +54 11 4001 9701

Terquim S.Ablanco encalada 840Dept 702, san antonioChiLeTel: +56 35 21 1050Fax: +56 35 21 1161

DQM S.Aav.enrique meiggs, 240Urb.Chacaritas, Callao,peRU Tel: +51 1 614 0800Fax: +51 1 614 0801


W W W . O D FJ e L L . C O m

quarterly june 2010

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