september 2013 · september 2013 . odfjell quarterly editor: margrethe gudbrandsen ... far we have...

ODFJELL

September 2013

www.odfjell.com

Odfjell Quarterly

EDITOR: Margrethe Gudbrandsen

EDITORIAL COMMITTEE:Karin Ryland Blom, Brit A. Bennett, Matt Duke, Geirmund Drivenes, Leif Gunnar Alvær, Henning Løseth, Siri Anne Mjåtvedt

CORRESPONDENTS:HOUSTON: Rebecca SnyderPHILIPPINES: Jennifer Franco

Deadline next issue:11 November 2013

Design: Bruno Blanchard, Cox Graphic production: Bjarte Kvinge Tvedt, CoxPrint: Scanner Grafisk AS

Frontcover: Bow PioneerPhoto by: Helge SkodvinPhoto this page: Bow Saga: Safety firstPhoto by: Ralph H. Tolentino

CONTENTSHighlights

Safety and Operation – Hand in Hand 04Operational Excellence 05

The importance of being a role-model 07‘Odfjell Safety Day’ 10

LandmarksExpansion at OOTS 11

A new milstone at Hyundai Mipo dockyard 12Odfjell Terminals secures land for future expansion 13

Chairman´s message

14

Portrait16

QHSEOdfjell in the Maritime Anti-Corruption Network 17

Corporate system audits 18Get fit on board 19

Briefings Growing terminals 20

– Seafarers’ attitude determine company’s altitude 22

Sea and shoreCome on board and explore the seven seas 23

Bow Pioneer on a short visit to Norway 24‘Summer Holiday’ on Bow Sirius 25

CustomersBergen Shipping Dinner 2013 27

Personnel 28-29Fleet and terminals 30-31Offices and addresses 32

Texts submitted to Quarterly may be subject to editorial adjustments. [email protected]@odfjell.com

3

NR.

03/ 1

3

o d fj e l l q u a r t e r ly m a g a z i n e

In the months and years to come you will hear a lot about Operational Excellence. If not, our management, myself included, will not have succeeded in what we have agreed is our number one priority, namely to bring our QHSE perfor-mance to a new and higher level. To achieve this ambition, we are now about to launch a new project named Our Roadmap to Operational Excellence.

A lot has been said and written already about our QHSE performance. You may have heard or read about the Hearts & Mind ladder and the ‘glass ceiling’, the point being that it is difficult to reach the proactive step of the ladder. Our desire on the other hand, has been and remains to overcome the hurdles to become a proactive company in the way we work by assessing risk, sharing information and learning from our mistakes. This again, has its background from discoveries and events at OTR during the last couple of years, all the valuable input provided in response to our safety culture survey, but not least the fact that we continue to have too many incidents, accidents and situations of underperformance. But please do not misunderstand! We have no reason to believe we are worse off as compared to our main competitors, we just want to go a step further. The main reason for launching the new project is because it is prudent and good business, which over time will be reflected in better bottom line results whilst living up to increasing expectations of society at large with regards to HSE.

Your immediate response might be: “Please, not again, we have heard it all before – it sounds like a new title to the same story”. Although you may have a point, I still urge you to join us on the new ‘Road’ with proper eagerness and attention. So far we have not achieved what has been our ambition, one potential reason being because of our approach which has had a tendency to be too academic. Operational Excellence however, should be easily understood and includes all we want to achieve. It simply means: Doing the right things the proper way and consists of three elements: Competence, Skills and Attitude. If you will be able to memorize just that, and take the time to assess and determine what this means for you in your

particular job, we have already achieved a lot, and in fact will be on to a very good start. You can argue of course that it will require more to bring us through the ‘glass ceiling’ than just operational excellence at an individual level. And you are right. Other necessary requirements are organisational structure and proper leadership. In that context however, I am very happy with the Leadership and Followership Development Programme that has been initiated and is about to be run by Ship Management for all members of our on board manage-ment teams. It is an excellent programme that we will make applicable, in the same or an adjusted format, for all leaders in Odfjell. As you can see, this issue of Quarterly has a lot of content associated hereto. Read it with care.

Our Roadmap to Operational Excellence consists of a number of both small and large initiatives and action items that will be introduced and implemented in the months to come. One of the first things you will notice and be part of is our new and annual-to-be Corporate Safety Day in November. Other early initiatives will be the introduction of a safety moment at the start of all official meetings, introduction of a new platform (technology) for e-learning and otherwise a comprehensive project for improvement of event handling.

I am looking forward to the coming months and years. With your support and enthusiasm, I am convinced that we shall now be able to live up to our ambitions.

And by the way, things are already going a bit better, both in terms of markets and earnings, but also as it relates to our QHSE performance.

Let’s continue together on that path!

magazineQUARTERLY

odfjell

Dear Colleagues,

Jan A. Hammer,President/CEO Odfjell SE

05 08 17 24

4

w w w . o d fj e l l . c o m

HigHLigHTS odfjell quarterly magazine

Safety and Operation – Hand in Hand By Toralf Sørenes, SVP QHSE, Bergen

Summer holidays are drawing to an end and it is now time for us to roll up our sleeves and further consolidate and improve our safety performance records. Safety, environment, quality and security have been increasingly placed under the spotlight over the last few years and abbreviations like HSE, QHSSE etc. have now become engrained in our everyday language. Significant emphasis has been placed on systems, methods, monitoring and control, sometimes at the cost of simplicity. Ensuring that we have the best relevant support through such elements is of course important and must take priority. The fact remains however that ‘the human element’ is still the most central part within QHSE and the systems must have a design and scope that are able to support the day-to-day work of the employee.

Despite all the encouraging changes made to safety over the last few years, what has not always been so often addressed during these changes, is the close correlation between safety and operation. It is important to appreciate that safety for the most part is a function of operation and not vice versa. Good QHSE performance starts with two main elements; a robust and functional design and a good operational performance. If those two key elements are in place, good QHSE performance will follow. So it is important to be focused on and strive for operational excellence and at the same time appreciate QHSE as the most important cornerstone in this work. Know your job, do it correctly and follow the rules. It is as simple as that!

Information, communication and good co-operation between the various units and levels in the organisation have been key fac-tors to success and this will continue to be our focus. Our ambition is to become more proactive and gradually shift our mind-set from what has happened in the past to preventing what might go wrong in the future. This is a challenge because it brings in elements that have not been so actively used in the past, like safety culture, process risk, proactive KPIs and preventive barriers. We firmly believe that this proactive approach will take us a step further towards achieving greater operational and QHSE excellence. The approach must not however, be narrowed down to QHSE as a separate issue.

QHSE performance must go hand in hand with operational performance.

We have recorded accidents with personal injury and also some serious and very high potential near accidents over the last few months. This tells us that we must not rest on our laurels when it comes to safety and not allow numbers

or other issues distract us. We must all continue to focus on safe working routines at all times and last but not least, look after each other and prevent unsafe operations or colleagues exposing themselves to risks.

Safety first – always!

5

NR.

03/ 1

3


Our goal for introducing the new Roadmap to Operational Excellence is to foster a common understanding as to how we shall carry out all jobs and duties here in Odfjell. But what do we mean by ‘Operational Excellence’? As i see it, operational excellence is a combina-tion of competence, skills and attitude. i want to make sure you have the necessary competence and knowledge about the job at hand, sufficient skills and experience to know how to do it safely and efficiently, and the right attitude, thus make sure you do it the proper way.

We may compare it to the driving of a car. To be able to drive you need the necessary competence with regards to how the car works, i.e. engine, steering wheel, pedals, lights, turn signals, etc. You also need to know all the traffic

rules and traffic signs and at least have a basic understanding of the physical forces involved, e.g. the connection between driving speed and breaking distance. All this you may be able to learn simply by reading a book or attend-ing a theory course. But obviously this is not enough. In addition you need sufficient skills and experience to handle all aspects of the driving in order to do it safely and efficiently, e.g. weather conditions, lighting, road condi-tions and traffic, and not least an ability to assess your own current physical and mental ability to drive safely. But even if all these prerequisites are in place, this only enables you to know how to drive safely and efficiently. To actually do it the proper way you also need the right attitude. You ought to have respect for and cooperate with other road users, be it other drivers, pedestrians or cyclists, and show

consideration for the environment in terms of emissions and noise. In addition you need to be aware of your driving style in order to keep fuel consumption and automobile wear and tear at a minimum. You also have to comply with all traffic rules and understand and respect that driving while intoxicated or overly tired is unacceptable. Only when all three factors, competence, skills and attitude are in place, are you in my opinion entitled to call yourself an excellent driver.

I urge you all to search for operational excel-lence in everything you do, both at work and when off duty. Make sure you have the right competence, have or are about to achieve the required skills and experience and not the least, pride yourself in having the right attitude.

Operational Excellence - Doing the right things the proper wayBy Jan A. Hammer, President/CEO, Bergen

Operational excellence is a combination of competence, skills and attitude

6



As one of the largest independent tank stor-age companies in Europe, Odfjell Terminals Rotterdam (OTR) considers safety as the cornerstone of operational excellence. OTR’s new Managing Director, Theo Olijve stated: The Dutch organisation focuses all its energy on further improving the safety at the terminal, now and in the future. An excellent example of OTR delivering on its promise is the development of the OTR ‘Hazardous Substance Tool‘.

The Dutch inspection for Social Affairs and Employment recently approved the first of the four step programme for the registration, risk assessment and safety improvement for using and handling hazard-ous substances. Following the approval, the authorities asked OTR for a copy of the ‘Hazardous Substance Tool’. They may go on to use it for training purposes and include it in their advice to other companies.

Organisations that work with hazardous substances in the Netherlands are obliged to keep records on the type, amount and safety

measures associated with these substances and they are required to conduct a risk assess-ment on all the hazardous substances being used, stored and handled in their facility. The Dutch Association of Independent Tank Storage Companies (VOTOB) indicated recently however that VOTOB members struggle with the registration of hazardous substances. A generic tool to register hazardous substances (‘Stoffenmanager’) has been made available by the authorities but sector specific circumstances limit its use in daily practice.

To overcome this problem, OTR supplemented ‘Stoffenmanager’ at three different levels of risk assessment: assessment based on respiratory protection, assessment based on job rotation and assessment based on field measured data. By upgrading ‘Stoffenmanager’ OTR has developed a system that is now tailored for tank storage companies, and subsequently allows a more accurate and effective risk assessment of hazardous substances. The newly developed ‘Hazardous Substance Tool’ provides an over-view of the exposure risks and allows for targeted corrective action, thereby preventing exposure to hazardous substances.

VOTOB has asked OTR to present the ‘Hazardous Substance Tool’ to other tank storage companies in the Netherlands in September this year. The Tool is in full compliance with the EU REACH and is applicable to Dutch legislation, and a fine working example that OTR is on track in being a frontrunner in operational excellence.

OTR sets example with its ‘Hazardous Substance Tool’ By Andrew Kube, Safety Engineer QHSE, Odfjell Terminals (Rotterdam)

The newly developed ‘Hazardous Substance Tool’ provides an overview of the exposure risks and allows for targeted corrective action, thereby preventing exposure to hazardous substances

7

NR.

03/ 1

3


The importance of being a role modelBy Helen von Hirsch Eriksen, Organisational Psychologist PhD

The term role model is one that we often hear and often use. in the shipping divi-sions of Odfjell, a recent safety survey revealed that being a role model is an area for potential improvement. But why is it so important, and why should we be conscious of our behaviour as role models?

Being a role model is widely understood to be influential to behaviour, and something that is highlighted as having great importance especially within safety at work. It is therefore surprising to note how few supervisors are actually aware of the power of influence they have by way of their everyday actions. The idiom ‘walk the talk’ could not be truer however, and there has been a great deal of attention paid to the phenomenon of the role model in research. For example stud-ies show that; the major influence on people’s behaviour is observing the behaviour of others; that Managers and Supervisors directly influence the norms and informal rules that people follow; that a Supervisor’s ability to prevent incidents is dependent on the behaviour they display for others and that people who see Supervisors and informal leaders ignoring the rules and procedures

are likely to do the same. Studies also show that leaders who act as sound role models are key to organisational development, and that new people in a group take their behavioural cues directly from what they observe others doing. In short, we observe what our leaders do, or indeed do not, which directly influences how we act or do not act.

Those of you who have children will be familiar with how intently your behaviour is watched and how quickly children will pick up on various signals that you display when you yourself are not doing what you are telling them to do. The effect of them observing your behaviour and copying it is called ‘social modelling’. They may be annoyed that there are different rules for you and different rules for them and this may cause the desired behaviour to be even less likely. This effect is called ‘dissonance’. The same effects are present in the workplace, but of course on a much lesser level. The basic principles are the same; if you do not walk the talk with regards to complying yourself, it may have the opposite effect and result in even more non-compliance!

Now, when speaking of role models one usually makes the assumption that this means Managers and Supervisors alone. Indeed, it is often true that those who have the greater authority within the work place are seen as the powerful role models and often set the standard for behaviour. However, every single one of us is a role model towards our peers and colleagues. What is established as acceptable behaviour (so-called norms) by members of a group or team have powerful influencers on others. This is why culture has such an important impact on how we work and why we must continuously strive towards establishing the ‘right’ culture for us and for what we do.

Odfjell’s goal is operational excellence and to ensure excellence we need this key aspect of role models to work well. Quite simply, if Odfjell employees (leaders as well as followers) lead by example in everyday work by displaying what is the correct and acceptable way to do things, operational excellence is achievable.

If Odfjell employees (leaders as well as followers) lead by example in every single setting by showing what is the correct and acceptable way to do things, operational excellence is attainable. Illustration photo: Engine department on Bow Pioneer.

8


Odfjell Ship Management Department’s Leadership and Followership Development Programme (LFDP) for Seafarers began on 12 August with the inaugural Retrospective Training for Captains and Chief Engineers. 36 Management Level Officers (MLOs) from Fleets Bergen, Flumar and Singapore took part in the programme.

Laurence Odfjell (Executive Chairman of the Board of Odfjell SE), Helge Olsen (Senior Vice President of Ship Management Division), Bjarte Wetteland (Manager Planning and Control), Fredrik Larsen (Competence Manager), William Lim (Technical Manager), Marcelo Morais Martins ( Technical Superintendent) and Carl Martin Faannessen (Owner's Representative in Manila) also participated in the training.

‘Of Odfjell, by Odfjell, for Odfjell’The LFDP for Odfjell seafarers is spe-cifically designed to facilitate a common

understanding among the participants regard-ing Odfjell’s expectations on leadership and followership. Internal resource personnel and thought leaders from Odfjell’s global offices are tapped as speakers for this programme, making the training truly ‘Odfjell’ in every way. A number of participants in these retrospec-tive training sessions will also be tapped as session speakers in the future, which will promote a strong exchange and transfer of information within the organisation. The wheels of cultural change in motionThe LFDP for seafarers aims to help align the seafarers' patterns of behaviour and attitude with Odfjell's Ship Management’s established set of values by facilitating continuous lifelong learning throughout their career with the Company. Given the multicultural nature of the work-force on board, establishing effective leader-ship and followership in Odfjell, regardless of

cultural origin or background, is necessary for the programme to be successful. This will be done through extensive discussions during training about the behavioural influence of cultural traits and how this affects the overall safety culture on board. The training will be an excellent avenue for free-flowing discussions on how the organisa-tion can take advantage of the strengths of its multicultural workforce on board and provide solutions to any possible detrimental effects that these cultural differences may impose. Starting this year and continuing until 2014, the Safety Culture Programme will move into the second phase with particular focus on the leadership and followership aspects of safety through the conduct of the LFDP for all Odfjell seafarers. The programme is aimed at the following objectives:

leadership and followership development Programme: – Paving the way for safety cultureBy Jennifer Franco, Information Officer, Manila

Participants of the inaugural LFDP Retrospective Training for MLOs

9

NR.

03/ 1

3


Vice President of Maritime Personnel Section and brainchild of LFDP, Tore Henriksen talks about the objective of the programme

• To facilitate effective leadership by leaders who conform to the characteristics of Odfjell leaders• To facilitate effective followership by followers who conform to the characteristics of Odfjell followers• To facilitate an alignment of Odfjell’s organisational climate (behavior and attitudes) and organisational culture (beliefs, values) An instrument for improvementThe participants of the LFDP Retrospective Training for Management Level Officers (MLOs) have displayed great optimism regard-ing the programme.

Captain Armando Salunday said he found it a privilege to train with top leaders of the Company: - This training has enhanced our knowledge about leadership and provides a great opportunity for us to discuss with Ship Management leaders. I am very positive that this will have a big positive impact on our safety culture. Full support from top managementThe programme has the support of both the top management and of the participants. – I support that we train all officers and crew

on board on leadership and followership because this will help us move in the right direction to help us bail out from five years of losses, shared Captain Luisito Cantona. Senior Vice President of Ship Management Department, Helge Olsen and Executive Chairman of the Board, Laurence Odfjell, urged the MLOs to use the information they have learned during the training on board. – It needs to be practiced. Bring all the informa-tion you have received here on board and discuss these on board your vessel. You do not become a better leader after one week, but you can be more reflective, you can understand what you need to improve on, and use the information you have to improve, said Olsen.

- This programme is excellent and it is totally necessary. This programme gives us a lot of great insight and many tools from which we can use to improve. Embrace this programme and be open to learning and trying these new ideas. My expectation is that our employees will have an open mind and willingness and gain the courage to learn and use what they have learned from this training, Laurence Odfjell shared.

Content of LFDPThe LFDP, which is the first training of its kind in the organisation, will cover the following topics: • Odfjell Business Model• Odfjell Policies/Values• Odfjell Code of Conduct• Followership theory• Odfjell Followership• Bow Tie/Safety Culture• Leadership Functions• Leadership: Planning• Budget/Cost• Leadership: Motivation• Leadership: Communication• Leadership: Situational• Leadership: Team oriented• Leadership: Cultural dimensions• Leadership: Decision making• Challenging Conversation/Appraisal• Leadership: Transformational• Personnel Administration



Odfjell Safety DayBy Pierre Houben, QHSE Manager, OTBV, Rotterdam

As part of the 'Operational Excellence' initiative where safety is a core component Odfjell will organise the first ever ‘Odfjell Safety Day’ this year. This was first brought up during the annual terminal QHSE summit in May and the intention of this Safety Day is to demonstrate to colleagues that it’s everyone’s responsibility when it comes to acting safely at work and at home.

The day will be set up in such a way that it becomes less of a ‘corporate’ initiative and more of a ‘grass root’ initiative that can be embraced and further promoted and advanced by colleagues on all levels.

The main strategies of the day will be:• Continue to build awareness that safety

is a core, essential value• Build recognition that achieving zero

incidents, zero injuries, requires con-stant vigilance

• Foster frequent, purposeful, meaningful communication between leadership and colleagues on all levels

• Deploy leadership involvement where it can be most effective

The Odfjell Safety Day will take place each year on the first Wednesday in November. The first Odfjell Safety Day therefore will be on 6 November 2013 and it is intended that both Odfjell employees as well as contractors are

The intention of this Odfjell Safety Day is to demonstrate to colleagues that safety is everyone’s responsibility, both at work and at home.

OTR - Lesson LearnedBy Toralf Sørenes, SVP QHSE, Bergen

A summary of the most important elements that lead up to the safety shut-down at OTR in July 2012 was made in June this year. The summary, which is detailed and covers a relatively long period of time, close with some observations, recommendations and most important, Lessons Learned (LL).

The summary and LL have been presented to all terminal managers, with the latest being the Asia Terminal Managers in a meeting in Bergen 21 August 2013. It is now important for relevant terminal personnel to study the facts and observations in the report and implement what is relevant and the LLs.

Many people and entities have been involved and numerous inspections and control initia-tives carried out at OTR the last couple of years. This has resulted in several reports, the most important being one from a well recognized independent Dutch research company called TNO and one from the Dutch Safety Board. To bring OTR back on track has been a long and difficult process and it is not finished yet. During the process, a lot of hard work has been done and difficult issues solved, particular by the OTR employees. We like to thank everyone and express our appreciation for their efforts.

actively involved during this day. Dependent on work schedules, the Senior Management Team of Odfjell have committed to being pres-ent at respective locations on this day. The primary focus of this year’s Odfjell Safety Day will be personal protection equipment (PPE)

for on-site workers on terminals and ships and general safety behaviour for office personnel. Information to the various locations and units about the organisation of this day will be sent out as the event approaches.

10

11

NR.

03/ 1

3


LANDMARkS odfjell quarterly magazine

Dave Ellis is appointed as President of Odfjell Terminals effective from 12 September. Mr. Ellis will be responsible for the leadership of Odfjell Terminals’ global activities. He has been with Odfjell SE since 1996 and Odfjell Terminals since 2005, most recently serving as the executive in charge of North American activities.

New president for Odfjell TerminalsExpansion at OOTS

By Chester Lee, VP Odfjell Terminals Asia, Singapore

Dave Ellis

Oiltanking Odfjell Terminals (Singapore) (OOTS) and Lanxess Butyl Private Limited have agreed to a long term Terminal Service Agreement to construct three spherical tanks of in total 12,000 cbm for the storage of Butadiene.

The feedstock Butadiene will be supplied from two sources to Lanxess; one from Petrochemical Corporation of Singapore (PCS) in Jurong Island and the other from vessel import into OOTS. A rundown pipeline of about four km will be built from PCS to OOTS and another pipeline of about 13 km will be constructed from OOTS to the Lanxess plant. The total investment required is SGD 34.75 million for three spherical tanks and

supporting infrastructure. The expansion is expected to be finalized first quarter 2015.

Lanxess is currently the global market leader for Nd-PBR (neodymium polybutadiene rubber) used in ‘green tires’ - the fastest grow-ing sector in the tire industry focusing on increasing fuel efficiency and reducing rolling resistance - with an annual global growth rate of about 10 percent. Growth in Asia Pacific is projected to reach 14 percent per year, barring any major economic slowdown.

Oiltanking Odfjell Terminals (Singapore)

12


LANDMARkS odfjell quarterly magazine

A new milstone at Hyundai Mipo dockyardBy Tor-Arve Skjerli, Site Manager, HMD Shipyard, Ulsan

Further progress in the chemical tanker marketBy Terje Iversen, CFO, Bergen

On 21 August a new milestone was reached on our newbuilding project at Hyundai Mipo Drydock (HMD) in Ulsan South korea. The first two out of four 46,000 dwt ‘eco-design’ iMO ii chemical tankers were keel laid at the same time in Building Dock no. 1 together with a juice tanker from Atlantship and a LPg tanker from geogas. The size of dock is 380 metres x 65 metres, and when all four vessels are being assembled, the free space will be rather limited. This is probably the first time in Odfjell‘s history that two vessels have been keel laid on the same day. Most of the building blocks are brought into yard by barges from several sub suppliers in Ulsan and Mokpo.

After seven weeks of building inside the dock, the vessels will be launched and completed alongside the outfitting berths. In January and February 2014 the two first vessels will enter into Odfjell’s fleet. The third and fourth vessels will be delivered in May and July 2014.

The total build time from steel cutting of the first two vessels in May 2013 until the delivery of the last vessel in July 2014 is only 15 months, which also is a record in the history of newbuildings for Odfjell.

Congratulations! Keel laying of two out of four newbuildings of 51,000 dwt

EBiTDA of USD 36 million in the second quarter is reflecting a better utilization of our chemical tanker fleet and a somewhat better market. Time charter results are up 8% compared with last quarter.

The second quarter of 2013 turned out better than expected due to better fleet utilization and a somewhat better chemical tanker market. We experienced steady nomination of contract cargoes and improved spot rates. Earnings on a time-charter basis ended up 8% compared to the previous quarter, and the average freight rate per tonne shipped increased by 2%. In second quarter our 51% shareholding in tank terminals business

contributed an EBITDA of USD 7 million, compared to USD 9 million in the previous quarter.

Chinese growth is at a somewhat lower level than expected, and is poised for the weakest expansion since 1990. Key Euro zone statistics have favourably surprised the markets in the past quarter. The development of the US shale gas industry is providing cheaper energy and feedstock for the US chemical industry.

Based on the above macro-economic picture and the fact that there are no material changes to the supply/demand situation, we believe that the next 12 to 24 months will see an

improvement in our segments. However, given the continued underperforming overall global economic growth, combined with the ‘supply overhang’ of ships we only expect the second half results of 2013 to be moderately better than the previous two quarters.

13

NR.

03/ 1

3


Odfjell Terminals secures land for future expansionBy Tom A. Haugen, VP Finance, Bergen

odfjell signs site reservation protocol in Port of le Havre:

– Vive la France!By Carl Fredrik Odfjell, VP Business Development & Project Management, OTBV Rotterdam

Odfjell Terminals has entered into a Letter of intent to purchase Chem-Marine Corporation of South Carolina. Chem-Marine controls a 25.3 acre/10.2 hectare site through a long term land lease, and is located adjacent to our tank terminal in North Charleston, South Carolina, USA.

The property is situated on the Cooper River and has a 250 meters deep-water front and a 12.5 meter draft ship berth, with one dedi-cated stainless steel line connected to 12,800 cbm of storage in two carbon steel tanks.

The facility currently handles the discharge of Alcoa’s alumina carrying vessels for once or twice per month which is conveyed to onsite dry storage facilities. Daily rail loadings of alumina are shipped to Alcoa’s primary alu-minium production facility in Mt. Holly, SC.This acquisition offers an opportunity for expanding our physical presence in the South East region of the US. Further to this, the Chem-Marine Corporation of South Carolina has been a valuable part of the Charleston community for over 35 years adding strength to our continuing commitment in this region.

On 12 July 2013, Jan A. Hammer on behalf of Odfjell Terminals Europe and Hervé Martel, Chairman of gPMH Management Board, on behalf of grand Port Maritime du Havre (gPMH), signed a Site Reservation Protocol (SRP) for a plot of land in the Port of Le Havre to develop a greenfield bulk liquid terminal.

Le Havre has a local chemical cluster and is located at the entrance to the River Seine. The port is located along the main shipping trade lanes en-route to Northern Europe. The plot covers a total of 31.5 hectares and investments

for Phase 1 are estimated in the region of EUR 150–200 million.

If and when the terminal is built, the terminal will strengthen Odfjell Terminals‘ position of being a preferred and leading liquid chemical storage provider in Europe. There is still a lot of work to do before the construction can start in 2015 and for the terminal to be ready in 2017. Communication with potential customers will be the main focus in the coming months.

Chem-Marine controls a 25.3 acre/10.2 hectare site through a long term land lease, and is located adjacent to Odfjell Terminals (Charleston). Illustration: Google Maps

This acquisition has an estimated value below USD 10 million.

The transaction will be consummated through

Odfjell Holdings (US) Inc., a subsidiary of Odfjell Terminals AS, which is the joint venture company owned 51% by Odfjell SE and 49% by Lindsay Goldberg.

Jan A. Hammer President/CEO and Hervé Martel, Chairman of GPMH Management Board, signing the Site Reservation Protocol (SRP)

CHEM-MARiNE

OTC

14


CHAiRMAN´S MESSAgE odfjell quarterly magazine

in this Chairman’s Message i would like to share with you a transcript of my speech which i delivered at the Norwegian Shipping Associations’ traditional annual event for Norwegian Ambassadors in Oslo.

Dear Ambassadors, Ladies and gentlemen,It is a great privilege to be given the oppor-tunity to address you today in this traditional setting. I have been invited to say a few words about how the Norwegian authorities, foreign services and embassies around the world, can contribute more actively in assisting and guid-ing Norwegian industry, trade and commerce. Of course, what first comes to mind is the value of the local ‘know how’ that embassies possess about their respective countries – it is always valuable when entering a new market to be guided on what are the potentials pitfalls, what works and what does not work so well. In this short speech I will use some examples from our recent history to illustrate occasions where we have worked well with the foreign services and other times where we have not worked quite so well.

First a little about Odfjell: We are one of the leading operators for transporting and storing chemicals and other bulk liquids by parcel tankers and in tank terminals. Over the last decade we have basically had a fleet of about 100 ships with around 3500 employees. I men-tion our size, not because this is an objective in itself, rather it is the result of success over many years, spanning many generations. It should be noted, however, that size matters in our industry today due to the growing number of rules and regulations governing our industry – it is becoming increasingly

difficult for smaller operators to manage and maintain compliance with the flood of initiatives coming out of the many governing bodies and jurisdictions.

Back to Odfjell: I stand here today repre-senting the stock listed Odfjell SE, which will celebrate our 100 year anniversary next year. Not too many shipping companies survive over four generations, so our celebration next year is an important milestone and illustrates perhaps the value of controlling families with a long term view on business.

We were pioneers with regards to the seaborne transportation of chemicals and we were also pioneers within offshore, ordering the first oil platform built in Norway. The offshore drilling activities have been developed successfully by another branch of the family after a split more than thirty years ago. But when we recognise the importance of the offshore industry in Norway, we should also recognise that this success was partially built on the experience and capital of both the Norwegian merchant and fishing fleets.

I have speculated why I was invited here today. This is possibly because Odfjell is the last Norwegian shipping company in the Norwegian international merchant fleet that employees a large contingent of Norwegian officers. We believe this is the right approach if we want to continue operating from Norway. Our segment of shipping requires a high level of competence due to the hazardous cargos we transport, and we need to recruit and prepare this competence, both for our sea and shore positions. Although happy for the recent discoveries of more oil and gas in the North Sea, we are also concerned with the increase of activities offshore, because the competition for skilled seafarers will only increase and we are apprehensive that we cannot match the terms that the offshore industry continues to offer.

In this context it is worth saying a few words about the Norwegian Maritime Cluster. Today

‘everyone’ seems to value this cluster – no political party questions the value that it contributes to the Norwegian society and economy. This was not the case however a couple of decades or so ago. And what is also seemingly agreed upon today is that the Norwegian shipping companies are the main engines sustaining this cluster’s progress.

Just consider the expertise that Norway represents by its Maritime Directorate, the Norwegian Ship Registry, the class society DNV, banks and law firms that understand shipping, equipment suppliers, the shipping and offshore services industries, etc.! This broad expertise has built Norway’s special reputation out in the world. And this reputa-tion gives us power to influence.

In order to talk a little about reputation, we should also be mindful of where Norway is in its development compared to that of many other shipping nations.

In Norway our primary need for food and drink is generally well covered. Our second-ary need for security (a roof over our heads) is also generally well cared for. So, citizens of Norway are not too preoccupied with primary and secondary needs – in Norway we have the ‘luxury’ to spend more energy on satisfying ‘higher’ needs, such as reputation. As an example, in Norway, media focuses on how ships are recycled at distant locations and they demand responsible actions from Norwegian owners. Of course, recycling of ships is important for health, environment and safety reasons, but it may seem easier to be preoccupied with recycling when we all have food on our tables, and we are not fighting for survival. Needless to say, Odfjell is also a proponent for responsible recycling of ships.

This brings me to the title of my address: Norwegian Shipping: A venue for export of our values.

In Norway we are concerned about values

Laurence W. Odfjell

norwegian Shipping: A venue for export of our values

15

NR.

03/ 1

3


such as human rights, corruption, the environment, and respect for international conventions. Through shipping we can, in fact, export and practice these values at sea, in port and on land.

Our merchant fleet sails throughout the world and often operates at a more sustainable man-ner than ships operated by other countries. This can be shown statistically and DNV as Class Society is typically known for having the most stringent requirements. Through our ships and related activities we are exporting some of our core values and we can better influence and ensure that higher standards are adhered to than if these same services were provided by agents from other nations.

Our reputation as a quality, shipping nation is important because it gives us credibility and thus more persuasion and power than our relatively small population would warrant. In fact, there are few arenas where Norway is as strong and visible as in shipping. Arguably only in winter sports!

So, one feedback to Norwegian authorities is the importance of using our reputation to influence the framework and conditions under which we operate and compete.

Norwegian representatives in the various maritime forums must have an in-depth understanding of what it entails to operate and manage ships. They need to fight for practical and sustainable conditions for the shipping industry. I use the word ‘fight’ because this is not normally something Norwegians are inclined to do…we like to discuss and reach some sort of consensus, but this is often simply not good enough. We fight to win in winter sports. We need to fight to win on the oceans. Note the words ‘practical and sustainable’ conditions: Today there is an over production of rules and regulations and decrees. Norwegian representatives in the governing bodies need to help reduce this flood of instructives and requirements that big bureaucracies are producing and bombarding our ships with. It is always easy to ask for more when you do not see the bill (at least not directly). Our captains are increasingly spending too much time behind their desks just ‘reading’ in order to become familiar with all the new requirements, whilst the time available for their important role as visible managers, role models and mentors on board the ships is increasingly compromised.

Back to our Norwegian reputation: We are all responsible for protecting this. In order to

have the morale right to address you on this, I would like to briefly share with you where Odfjell has failed in recent years:

Our terminal in Rotterdam has been in the media for an extended period now because we failed in terms of our responsibilities regarding safety and environment. We failed in something that we consider our core val-ues. We failed in safety by not maintaining adequate control and documentation over the maintenance of this terminal for many years. The result was that part of our fire fighting protection system was in a poor condition. This is simply unacceptable. So how could we have allowed this to happen? Ultimately it boils down to lacking supervision and control by us as owners.

Now - 4 examples where authorities have been involved: Bow Flower: The ship was detained under a Port State Control because we were not willing to bribe the inspectors. This is a regrettable example of corruption. With the assistance of the Norwegian Shipping Association, we engaged the relevant embassy and the Norwegian ambassador met with counterparts in person. We believe that making the mal-practice visible to higher authorities should have a deterrent effect, at least temporarily. We greatly appreciate the prompt action by the embassy, but regrettably this problem has not been structurally resolved, so a continued effort by industry associations and authorities is a necessity.

Bow Saga: This ship carries the Norwegian Flag, so is considered Norwegian territory. The ship was attacked by pirates with gun shots fired at the bridge. The pirates were caught red handed, but due to undefined communica-tion lines by the Norwegian authorities, the pirates were released. This was, of course, very demotivating for our seafarers. The lesson learnt here was the importance for the different ministries and departments in Norway to have very clear communication channels. For the shipping companies, it is often challenging to know who to contact. My appeal to the authorities and embassies is to be service minded and help guide an inquiry to the correct governing body.

Sevmash: Odfjell won arbitration in Stockholm, but our Russian counterpart attempted all kinds of tricks not to pay the award. The Norwegian authorities put our case on the political agenda, since the Russian state, as signee on relevant international

treaties, needed to ensure that Russian state companies respect international conventions regarding arbitration.We believe that the involvement of Norwegian authorities helped facilitate a more expedient payment of the award, so the lesson here is simply that together we can successfully fight to ensure respect for international law and conventions.

We have recently had a ship detained due to a possible breach of Marpol by allegedly pumping product residues to sea. As a conse-quence, several seafarers have been held back for over nine months with no due process, no charges, nor trial. This is arguable an abuse of human rights. It is an escalating problem for our seafarers that certain countries are increasingly criminalising them. This trend will possibly lead to more seafarers held with-out due process and the flag state authorities will need to know how to handle such cases. My point is that it is a responsibility to be a flag state and this may require both courage, commitment and legal insight to fight for the rights of the ship and the seafarers against authorities of other nations, even when this may be ‘inconvenient.’

in summary i would like to say the following:Norway has ambitions to influence the world with its values (but let us be mindful not to be too arrogant in this pursuit).Shipping is one of very few arenas where Norway has a strong global position and reach.The authorities, including the Maritime Directorate, the Flag State, the ministries and the embassies are all important for Norway to fight for the right conditions for our maritime cluster.Our reputation grants us influence, so we have a common responsibility to safeguard our reputation and to maximize this influence.

In other words, this demands effort and cour-age – the whole world is our arena in which we can create values for Norway Incorporated (AS Norge) and in this process also contribute to create a world with better values.

Thank you for your attention.

norwegian Shipping: A venue for export of our values

16


PORTRAiT odfjell quarterly magazine

theo olijve – new managing director at odfjell terminals (rotterdam):– Managing expectations in Rotterdam By Myrna van Poel, Manager HRM, OTR

On 1 June 2013, Theo Olijve joined Odfjell as the new Managing Director at Odfjell Terminals (Rotterdam) (OTR). Now few months into the role, it is time that the rest of Odfjell becomes better acquainted with our new leader at OTR.

With Theo Olijve on board, Odfjell gains over 25 years of technical and managerial experi-ence in the petrochemical industry. Prior to joining Odfjell, Theo was Site Manager with LyondellBasell responsible for the manu-facturing performance of two Rotterdam manufacturing sites and a terminal. Although he could have easily continued his career at LyondellBasell, he felt that it was time for a new challenge. The opportunity to transform OTR into a leader in the area of safety in the Rotterdam harbour represented such a challenge for Theo. As he mentioned in his welcoming word to our Rotterdam colleagues: - I truly believe that OTR is a wonderful terminal and holds great potential for growth.

Theo is a strong believer in operational excellence as a mean to create a culture of continuous improvement resulting in a superior health, safety and environment (HSE) performance and assuring a sustainable profitable future.

Theo started his career with Exxon Chemicals undertaking various manufacturing roles and participating in large projects as Process Engineer. After seven years, he moved to LyondellBasell, stepped up his responsibility and became Manager in various manufac-turing roles during his 21 years with that company.

Making a difference from the startWith Theo at the forefront of OTR, the Dutch organisation will be able to focus its energy on further improving the safety at the terminal, now and in the future. Focus will be on improving the integrity of the tanks, management systems as well as the culture, and progress is already being made. During his first months with the company, he assessed the current organisation and he is now working on a master plan to improve the

operational and business performance of OTR in the coming years. Together with his new Management Team, Theo has written a set of management expectations with regards to safety, health, environment and compliance. These steps are crucial to regain trust from OTR’s stakeholders, which in Theo’s view is an important prerequisite to ultimately making OTR into a commercial success.

Northern rootsTheo was raised and educated in Groningen, the most Northern Province of the Netherlands. In general, people from Groningen (‘Groninger’) are characterised by a strong will and belief, a feature that Theo definitely exhibits and which will certainly help him in his current mission. However, it is also said that a ‘Groninger’ can be described as someone who comes across as rigid or surly. In this respect he seems to be the complete opposite! Although Theo has been in a managerial role for many years, being a Chemical Engineer by training he still enjoys a walk around the terminal and is more than happy to discuss daily operations with operators and engineers. It is clear to those outside Odfjell that he values open communica-tion channels and transparency.

Theo is married and the proud father to four children. Theo likes to keep active and enjoys running, playing tennis, biking and skiing. He also enjoys quiet moments for reading, either alone or in the company of his two young grandchildren. Julia (3 years) and Charlotte (11 months).

Theo Olijve, Managing Director at OTR

17

NR.

03/ 1

3


QHSE odfjell quarterly magazine

Odfjell in the Maritime Anti-Corruption NetworkBy Bjørn Ydse, HSE Manager, Bergen

To increase focus and effort on sustainable development, Odfjell made the decision to join the United Nations global Compact – (UNgC) in March 2011. The main focus areas for the UNgC are Human Rights, Labour, Anti-Corruption and Environment. in order to further enhance these efforts on sustain-able development, in August 2013, Odfjell also became a member of the Maritime Anti-Corruption Network (MACN).

MACN is an international business initiative in the maritime industry created to share and develop best practices in the field of anti-corruption and to enable fair trade to the benefit of society as a whole. Established in 2011, and formalised in 2012, MACN is comprised of vessel owning companies within the main sectors of the maritime industry and other companies in the maritime industry including cargo owners and service providers.

The members of MACN believe that their key objectives can best be reached through cooperation and acknowledge that their activities must be undertaken in compliance with applicable laws and regulations. These laws are intended to preserve and promote free, fair and open competition and special

focus are placed on antitrust and competition laws. This approach will facilitate sound and legitimate activities and exclude illegal activi-ties, which are the objectives of the initiative. Failure to abide by these laws can potentially have serious consequences for MACN and its members.

MACN and its members also promote good corporate practice in the maritime industry for tackling bribes, facilitation payments and other forms of corruption by adopting and implementing the MACN Anti-Corruption Principles, communicating progress on

MACN represents an excellent forum for sharing best practice and creating an awareness of industry challenges

Some of the participating companies include:

AS Klaveness Chartering, Gearbulk, Grieg Shipping, Hamburg Sud, Hoegh Autoliners, Maersk Line & Maersk Tankers Norden, Nordic Tankers, Teekay Corporation, Torm and Wallenius Willhelmsen Logistics.

Some of the associated members include:Morgans Stanley, Danish Ship Owners Association, Norwegian Ship Owners Association, INTERTANKO and Inchape Shipping Services.

Photo: Rex Maestrecampo

implementation, sharing best practice and creating awareness of industry challenges.

Bjørn Ydse, HSE Manager Bergen, is Odfjell’s representative in the network. More general information about MACN can be found at www.bsr.org/macn.

18


QHSE odfjell quarterly magazine

Our mission statement and policies are the governing directions on how we as a com-pany shall manage our business. To assure compliance of the Company’s requirements Corporate QHSE performs internal audits. The intention is to verify whether or not departments and offices are complying with this statement and the policies.

The top governing direction, the mission and policies, must be complemented in accordance with corporate requirements, and corporate requirements include that departments shall describe their business processes. This is done through departmental procedures, job descriptions, checklists etc. These descriptions do not only describe ‘what’ we do but also ‘how’ we do it.

System auditsSystem audits is a method to assure compli-ance of own requirements. System audits are used to verify that departments have their documentation in order and is compliant with the governing directions. This is particularly important for an international company like Odfjell, with decentralised day to day operations in all international corners of the Company.

Detecting system deficienciesSafety and risk are two examples in system

the importance of corporate system audits

Dave Ellis, President Odfjell Terminals:

Why are regular cor-porate system audits important?This is an assurance function and an effort to assess the overall

QHSE health of the organisation. It is as important today as it has ever been.

How are the corporate system audits useful to the organisation?It provides a corporate memory with a consistent set of auditors, who can assist an organisation in elevating their QHSE efforts. This is an important ISO element. It also allows us a chance to prepare for our surveillance audits. Generally the corporate audits are tougher than the surveillance audits, so we are well prepared. Finally, having access to the reports of the other facilities allow us to see emerging issues that we may be facing as well. This allows us to address them early. It also allows us to see how the other facilities may be tackling them.

Tor k. Johansen, Manager Overseas Office, Singapore:

Why are regular cor-porate system audits important?The corporate audits are important to ensure and verify that the depart-

ments/foreign offices work processes are compliant with internal and external requirements. Another important element is contribution to continuous improve-ment, not the least for the local offices’ procedures.

How are the corporate system audits useful to the organisation?Experience sharing is also a part of the sys-tem. Auditors should use their experience from auditing other departments/foreign offices to give suggestions for improvement between organisational units.

audits on how we also address important elements of daily business and operations. We therefore ask questions such as; Are the risks of the business identified and handled? Are the safety requirements identified and described? Are the safety requirements being followed? The audits shall also detect if operations are allowed to take unacceptable short-cuts.

The auditor - A helping handSkills, training and experience are needed to objectively verify compliance and identify non-compliance. You should therefore not only look upon the auditor as a controller but also as a ‘helping hand’ which may both guide you in improving operations and bring forward good ideas or solutions you want to share with others.

Corporate QHSE has recently updated several corporate requirements. Office staff can find the requirements in the Corporate Management Manual (CMM) – in Docmap Documents:• Corporate Quality Management Requirements• Corporate HSE & CSR Requirements• Corporate Event reporting and handling Requirements• Risk Assessment

Corporate system auditsBy Frode Stornes, Quality Manager, Bergen

19

NR.

03/ 1

3


Odfjell’s Healthy Living Project has been making big waves on board since its launch in 2012 by promoting a healthier lifestyle among seafarers through fitness activities and sports competitions on board for both short sea and deep sea vessels. Activites such as the ‘endurance challenge’ (30 minutes cardio exercise), ‘abs of steel chal-lenge’ (30 repetitions abdominal exercise) and the ‘five minutes burpes/squat thrust challenge’ (repetitions under five minutes) have all been a major success.

Fitness Instructor, Cesar Escasinas, Jr. has been joining vessels since last year to share the healthy living vibe with the crew. Through the support of the Management Level Officers (MLOs) who have encouraged their crew to participate, the project has the sailors on board

on living healthy. What do the crew have to say about their Healthy Living Project experience?- Life at sea is busy and challenging. There are thousands of reasons to excuse ourselves from exercising and training. But for the crew and officers of Bow Nangang, Odfjell’s Healthy Living Project is a rewarding experience. As our age moves forward, let us look for ways to improve our lives. Whether we need to lose weight, get healthier, eat better, get more rest or be more active during the day, we all have room for improvement, says Messman Michael Angelo Del Pilar on Bow Nangang.

For a ‘shipshape’ crewThe initiative ultimately endeavors to con-tribute to the Company’s bottom line through improving the health and productivity of seafarers manning Odfjell vessels. After the

project evaluation in 2012, the Healthy Living Project had resulted in a positive turnout on its success meters, i.e. Pre-Employment Medical Examination (PEME) and Protection and Indemnity (P & I) statistics, participa-tion and feedback from seafarers and other stakeholders.

SMTs participationAgnes Enesio, says that the commitment of the crew to the Healthy Living project will largely depend on the Management Level Officers (MLOs)’s participation: - We always say that the active participation of the vessels will mostly depend on the support and encouragement the support crew receives from their leaders/ Ship Management Team’s. We thank our MLOs and the crew for their commitment to fitness.

odfjell Healthy living Project:

- get FiT on board!By Jennifer Franco, Information Office, Manila

The crew of Bow Faith getting FIT on board!

BRiEFiNgS odfjell quarterly magazine

20



growing terminals odfjell terminals quanzhou (fujian) co. ltdBy Lin Jian Peng, General Manager, OTQ

founder groupFounder Group is a major Chinese conglomerate with its business covering five industry groups IT, Healthcare & Pharmaceuticals, Real Estate, Finance and Commodities. Its’ subsidiary Founder Technology Group is the second-largest personal computer vendor in China. Founder Group was created by Peking University in 1986 and has grown to become one of China's most innovative and influential high-tech companies. Founder Group has six public companies listed in stock exchanges of Shanghai, Shenzhen, Malaysia and Hong Kong, and over 20 sole funded enterprises and joint ventures. Altogether, Founder Group has nearly 35,000 employees.

With a foothold in Quanzhou, Odfjell will now embark on a prominent role in the tank storage operations in Southern China by providing a safe, high quality logistics infrastructure to serve the industry.

The terminal project is ideally located and offers water draft of up to 18 metres and berths capable of accommodating vessels up to 100,000 dwt. The initial 184,000 cbm capacity will offer safety management in all aspects of the handling and storage for a full range of chemical products.

On 1 August 2013, the Fangtong (current name of terminal) board approved the budget and organisational structure proposed by the General Manager up until the end of the year. The General Manager is appointed by Odfjell while the CFO is appointed by our local partner Founder. The temporary office has been set up, the recruitment for the project team is in progress and the draft project tender procedure has been discussed and agreed by both shareholders.

The existing 3,000 dwt jetty

Construction work at Odfjell Nangang Terminals (Tianjin) (ONTT) has progressed very well in the second quarter of 2013 in both the jetty topside and the tank farms. The construction of the jetty civil work has been completed and the jetty topside is about 87% complete. The erection of the tanks at tank pit No 6 and tank pit No 2 started in June and construction of tank farm pipe rack started in July this year.

Thanks to the implementation of a stan-dard site construction safety management system according to ONTT’s Safe, Health, Environmental Protection and Security plan, ONTT is pleased to report that it continues to

odfjell nangang terminals (tianjin) co. ltdBy Thomas Tao Weiqiang, General Manager, ONTT

maintain a good safety record - zero Lost Time Injury (LTI) with 401,490 contractor man hours and 77,512 ONTT employee man hours.

Industrial customers including Shell Northern China Oil Terminal Project and Shell Lube Oil Project are under construc-tion and have an aligned schedule to our jetty and terminal project. By the time ONTT is in full operation in June 2014, we expect to have a full spectrum of customers ranging from multinational customers to giant Chinese state-owned companies as well as some mid- sized private companies.

21

NR.

03/ 1

3


These past three months have seen incred-ible progress with the construction at Odfjell Terminals (Charleston) (OTC) and as all drawings are finalised the ‘big push’ to meet the end of year start-up for Phase 1 of the North Charleston Terminal is underway.

And the rain, well it has not been kind and whilst we are thankful for the lack of Atlantic Tropical Storm activity, the daily downpours which have been the bane of our construction folks since February this year, have continued unabated with July showing fourteen inches more rain than average. There has been only one way to try and keep schedule and that is to work round the clock.

Safety is of course a big issue for us now with over three hundred construction personnel on site. We have increased the number of safety personnel who spend their days con-tinually active on foot and in four wheelers inspecting the multi-disciplined activities, many of which encroach upon one another. A tribute to their endeavors is that we now show over 200,000 man-hours without a

single OSHA (Occupational Safety and Health Administration) recordable incident.

It is not only in the construction where the progress has been made. There has also been a lot of work conducted on regulatory permit-ting issues, not least the development of the ‘Site Vulnerability Assessment’ and ‘Facility Security Plan’, submitted to US Coastguard for approval and work on pollution matters from which the ‘Integrated Contingency Plan’ is currently being developed. Alarm testing to optimise the location for terminal

alarms, camera locations, office and control room fitting as well as work being conducted in Houston and Rotterdam on the terminal automation and management infrastructure are to name but a few.

At time of writing (23 August), it will be very interesting to report and indeed compare, where we are three months from now – com-missioning systems is the goal.

The transportation area

odfjell terminals (charleston) – The big pushBy Mel Pinks, Terminal Manager,OTC

The jetty topsideThe jetty hose rack

odfjell nangang terminals (tianjin) co. ltdBy Thomas Tao Weiqiang, General Manager, ONTT

22



– Seafarers’ attitude determine company’s altitudeBy Sudesh Kamath, Vice President, Odfjell India

- A positive attitude causes a chain reaction of positive thoughts, events and outcomes. it is a catalyst that sparks extraordinary results, believes Fleet Management, one of our main time charter partner. At their recent annual officers’ conference, Fleet Management spread the message that it was important to have the right attitude towards work because if you have a positive attitude and constantly strive to give your best, then you will overcome your immediate problems and will be ready for greater challenges.

Compliance is the need of the hour for the global shipping industry. Dynamically changing maritime rules and regulations are making it tough for shipping companies and seafarers, keeping them constantly on their toes. Mindful of this, Fleet Management - at a two-day seminar held before summer at the Hotel Oberoi, New Delhi - chose the

theme of the year: ‘Compliance - the only way forward’. The event saw the presence of the top management of Fleet Management from across the globe.

There were many topics of concern that were discussed at the seminar. Fleet Management is a pioneer in keeping its seafarers abreast with the latest maritime rules and regulations, updates and requirements. This annual semi-nar was no different. Elaborated at the seminar were areas of operational risk management, regulatory updates, MARPOL compliance, meeting customers’ requirements, role of the Indian Coast Guard in safety, security and environmental protection, vetting and MLC 2006 - the top concern of every seafarer today.

Updating on the latestOn the objectives of the conference, Captain Prashant Rangnekar, General Manager, said:

- The main objective of the conference is to bring Fleet Management’s officers and office staff together, share knowledge and experience as well as update our seafarers on the latest in maritime industry practices, safety awareness, training, education and regulations.

At the end of the session there were question and answer sessions which gave the delegates and opportunity to open up and solve the queries put forth to them.

In his concluding remarks, Mr Rajvanshy, Managing Director at Fleet said that the conference was important for ensuring effec-tive communication between sea and shore staff: - It also reminds us that we are all part of one team, working together to make Fleet Management successful.

From left: Captain M. S. Nagarajan, Fleet Management Hong Kong, Sudesh Kamath, Odfjell India, K. S. Rajvanshy, MD, Fleet Management Hong Kong, Dag Eidsvag, Odfjell Norway, S. Chandra, Fleet Management Hong Kong and Captain P. Rangnekar, Fleet (Elegant Shipping) Mumbai

23

NR.

03/ 1

3


SEA AND SHORE odfjell quarterly magazine

The ocean has always captured imagination. i bet many of you have looked out over the sea and wondered what is out there. Maybe it is the unknown that makes some of us pursue a career at sea? Have you ever wondered what life is like on board? Well, get your sea legs on and come and join us on board the good lady Bow Flora!

Our journey starts in Bahrain were the good lady has been in dry-dock for the last couple of weeks. Luckily the weather in Bahrain is not at its hottest this time of year, but if you are here in the summer time it can be so hot that the first few breaths out on deck can be painful. The first thing you will see when coming on board is the happy faces of the crew that are ready to go home on a well-deserved vacation. After a thorough hand-over, send those sign-ing off home and the adventure can begin. On board Bow Flora we are a crew of 29, a mix of Norwegian and Filipinos seafarers.

The journey starts – heading for QatarAfter a successful sea trail we can set the course for our first load port after the yard, Mesaieed in Qatar, followed by Jubail in Saudi Arabia. As always cargo operations is the busiest time for the crew. When the loading in

Jubail is completed the course it set eastwards towards the Strait of Hormuz, which is the border between The Middle East Gulf and the Gulf of Oman and it is known for having a lot of traffic. Nevertheless, as always we manage to steer safely through the Strait. We leave The Middle East Coast behind us and set the course southwards to Fujairah for bunkering and then proceed to Durban in South Africa. As we are sailing southwards the weather gets colder, but this is a welcomed relief compared to the intense heat in the Middle East.

After a long sea voyage it is always nice to see land againOne thing that is special with Durban is that the pilot arrives by helicopter, instead of via boat which is the norm in other places. The pilot gets onboard safely and not long after the good lady is steaming ahead to Island View terminal in Durban. This will be a busy stay because all our cargo will be unloaded in Durban at only two different berths.

When the unloading is complete we have to make the vessel ready for loading again. All tanks must be cleaned and checked so they will meet the requirements for the next cargo. After a couple of days at anchor waiting for

the cargo to be ready, we can finally proceed back into the harbour and start the loading. The coast of South Africa is rich in animal life and while at anchor the sight of whales playing in the ocean is quite common. After Durban we will proceed to Richards Bay to load the last tanks.

On our way to New YorkAt last all tanks are loaded and our long stay in South Africa is coming to an end. We have a long voyage in front of us from Richards Bay to New York, a voyage that will take a little more than three weeks. En route to New York we will pass Cape Agulhas the southern tip of Africa and the dividing point between the Atlantic and Indian Ocean. The Cape of Good Hope is seen on starboard and the coast of South Africa is a distant memory, and the vast ocean is ahead of us. As long as we avoid the St Helena and Ascension Island the trip to New York will be a smooth sailing. As so many before us, we can just look forward to seeing the Statue of Liberty. When she is in sight the long voyage comes to an end and for some of the crew is time to go sign off.

Come on board and explore the seven seasBy Jan Fjeldstad, Second Officer, Bow Flora

En route to New York

We are happy to share the Norwegian waffle recipe with our Filipino colleagues!

On our way for bunkering in Fujairah

24


SEA AND SHORE odfjell quarterly magazine

Bow Pioneer on a short visit to Norway By margrethe gudbrandsen, communication manager, Bergen

After two months in operation, Bow Pioneer came to Europe to discharge chemicals, and was thereafter loading a full cargo at Mongstad (just outside of Bergen) for Asia.Employees at the headquarters used the opportunity to pay the majestic ship a visit.

While drifting and waiting for the loading operation to start, Fleet Manager Geirmund Drivenes and I boarded the vessel together with a professional photographer to secure pictures of the crew and vessel whilst the vessel was so close to our office.

Captain Ruben Hilario and his crew welcomed us on board and gave us a guided tour on the impressive vessel. The dimensions of the vessel were overwhelming compared to our other vessels.

Despite working for a shipping company, venturing on board a vessel is often a rare occasion for many employees. Therefore, whilst at berth, other employees took the opportunity to spend Sunday visiting Bow Pioneer and the crew.

The following Monday, the Maritime Personnel Section welcomed some of the crew of Bow Pioneer to the headquarters before they ended their stay in Norway with a trip to Fløien to get an overview of the city.

We would like to thank Captain Hilario and his crew for their hospitality and for taking the time to greet so many ‘curious colleagues’ and allowing them into the world of the world’s largest chemical tankers.

An impressive sight

Captain Hilario and his crew

Captain Hilario on the bridge

Her Majesty

25

NR.

03/ 1

3


Odfjell Terminals Asia’s general Managers visit Bergen By margrethe gudbrandsen, communication manger, Bergen

‘Summer Holiday’ on Bow Sirius By 3/o jimmy mirasol fernandez, Bow Sirius

The general Managers of our Asia terminals visited our headquarters in Bergen this August. The purpose of the visit was to exchange information and also to further build relations between the headquarters and our terminals in Asia.

The programme was focussed on sharing of information: the Terminal Managers gave presentations of the individual terminals and their key activities and key personnel at the headquarters provided information related to corporate services, ship manage-ment activities and chartering and operation. The predominant themes were safety and opportunities for cooperation and knowledge sharing. The visit also created a good oppor-tunity for social interaction and an informal introduction to the Norwegian culture. - It was a real pleasure to host this visit and I think we all experienced eye-openers into the various aspects of our business, says Harald Fotland, SVP CSS.The Odfjell Terminals Asia General Managers and key personnel from Bergen and Rotterdam

What could be more enjoyable after a long fought basketball game, than relaxing under the searing heat of the pacific summer followed by a dip in the cooling swimming pool? To everyone’s delight, this ‘holiday feel’ was successfully created on board Bow Sirius as we celebrated the Norwegian Constitution Day. The crew had worked hard to prepare for many activities, and the event was welcomed with much excitement.

As the sun draws to its zenith on 17 May, everybody wore their best sports attire, acces-sorised with lucky charms, ready for the start of the basketball match. Just before the game started, Captain Reynaldo Noveno christened the newly redesigned basketball court and in our collective effort to support the Healthy Living Project, the logo was proudly displayed on the shooting board. Captain Noveno, emphasised to the crew that this would serve as a permanent reminder that living healthy is our ‘mighty vessel’ in unleashing our full poten-tial as seafarers as well as on a personal level.

He went on to stress that physical exercise enables us to sharpen our mind and by participating in a number of different activities and generally becoming more active, it helps to create a health conscious environment on board.

The players fought hard in the game, which was then followed by a relaxing dip in the swimming pool, with the immense Pacific Ocean as it’s impressive backdrop! Quite an experience to be able to swim surrounded by the far-reaching ocean.

Indeed, it was a day to remember and a perfect opportunity to ‘recharge’ after days of hard work. Being thousand of miles away from home can at times be challenging and events like these help alleviate these emotions. Team events not only promote healthy living but they also improve general camaraderie and good relations on board which help make our ship a happy home to live in. A happy ship is a safe ship. After all, everybody needs to take a break.

Photo session before the game begins

26


iN SOCiETY odfjell quarterly magazine

odfjell makana supports South african runner:Comrades Marathon By Thomas Nagelsen, CEO Odfjell Makana, Durban

That summer feeling!

Bow Sagami called at the port of Morehead on 14 July to load phosphoric acid. Much to the delight of a group of youngsters cooling off in the water at Fort Macon, the vessel transits the shipping channel on 17 July and heads to sea, bound for Kakinada, India

Bow Mekka when she was proceeding to berth at the City of Morehead in June

The Comrades Marathon is an ‘ultra-marathon’ just short of 90 km run between Durban and Pietermaritzburg, in the province of kwaZulu-Natal, South Africa. The start of the race alternates every year between Durban and Pietermaritzburg, with almost 600 metres of height difference between them. With the exception of a break during the Second World War, the race has been run every year since 1921.

The event was the idea of Vic Clapham, a First World War veteran who during his campaign endured a 2,700 km march through the swel-tering desert of what was then called German East Africa, now known as Burundi, Rwanda and Tanzania. He started the ‘Comrades’ to commemorate South African soldiers killed during this war. The constitution of the race states that one of its primary aims is to ‘celebrate mankind's spirit over adversity’. In the first race in 1921 there were only 34 runners and it was eventually won by Bill Rowan in a time just under nine hours.

For several years now, Odfjell Makana has spon-sored Clement Nkosi, a long distance runner who this year completed his sixth ‘Comrades’. This year’s race was a tough one with warmer and more humid conditions than usual as well as running uphill starting from Durban. Never the less, Clement did very well and finished 61st out of a total 19,907 entrants from all over the world, in a time of 06:41:08. For this he awarded a Silver Medal for completing in a time under 7:30:00. This is a formidable achievement and even more impressive for Clement who is a specialist downhill runner with 12th position as his best placing in the downhill ‘Comrades’.

For those of you who might be tempted to give this ‘ultra-marathon’ a try, you must have already completed a ‘normal’ marathon of 42.2 km in less than five hours, which is quite a challenge in itself!

Odfjell Makana has sponsored Clement Nkosi for several years

27

NR.

03/ 1

3


CUSTOMERS odfjell quarterly magazine

Customer visit on Bow Sky By thomas nagelsen, ceo odfjell makana, durban

Bergen Shipping Dinner 2013 By Siri-anne mjåtvedt, tradelane manager, Bergen

On 10 July we had the pleasure of welcoming some of PetroSA management and logistics staff to visit Bow Sky.

It was an ideal day to arrange the visit as the weather in Cape Town was both forgiving and beautiful which is not always the case during the winter months. The visit started with Captain Jan Kåre Naess welcoming us all on board before heading to the bridge to start the tour of the

ship as well as getting an overview of the vessel. Bow Sky is one of the many vessels within the Odfjell fleet that PetroSA has utilised for their shipments over the years. We were joined by Chief Engineer Trond Ellingsen who guided our visitors around the engine room and answered the many questions on the work that goes on to keep all the ships technical systems operational. The PetroSA team also enjoyed being shown how the cargo control room works, as well as the

procedures carried out prior to any discharge or load operations.

We ended the visit with the Captain inviting us all to the mess room for a fantastic lunch prepared by the crew. On behalf of all of us we would thank the Captain and crew of Bow Sky for their hospitality and for making us all feel welcome on board.

On 6-7 June 2013 Bergen once again played host to the ‘Bergen Shipping Dinner’. This is the fifth time that Bergen Shipbrokers Association and the Bergen Ship-Owners Association have organised the event. Over the years, this gathering has grown in size and the number of guests has steadily increased from 350 in 2003 to 1,150 in 2013.

During the two day event, Odfjell participated in the official golf tournament and the official dinner in Dovregubbens Hall. In addition, we arranged a private dinner in Galleri Nygaten as well as a private lunch at Ulriken. Almost 90 customers and brokers from all over the world made the effort to come to Bergen to join us for the various events. On Thursday evening after an enjoyable dinner at Galleri Nygaten, a total of 100 guests and Odfjell employees got to enjoy the surprise entertain-ment of the Odfjell Band. On Friday, a lunch was arranged at the 643 metre high ‘Ulriken top’,

The Odfjell Band playing after dinner at Galleri Nygaten

Ready to embark on the guided tour of Bow Sky While at Cape Town the weather was both forgiving and beautiful

while the ‘early birds’ participated in the golf tournament at Meland Golf Course in which our ‘gas’ team won the third prize. On Friday evening, the whole shipping community

in Bergen together with their guests, a total of around 1,150 people, participated in the official dinner in Dovregubbens Hall.


PERSONNEL odfjell quarterly magazine

28

Sanfelice, Karine Quini Accounting Auxiliary13.05.2013

Rodriguez Lazzarin, IngridAuxiliary03.06.2013

Cintra de Pasquali, Marcelo Head of Project and Business Development01.07.2013

Enriquez, Marvin Documentation & Liaison Assistant08.07.2013

Freire, Israel Dos Santos Analyst 03.06.2013

Fernandes, Raquel Accounting Analyst Pl.08.07.2013

FLUMAR

NEW HiRES

ROTTERDAM

Vriens, Jos Senior Project Manager01.06.2013

HOUSTON

Krupp, Danielle Administrative Assistant03.06.2013

Wright, Pamela Senior Project Buyer28.05.2013

Shinneman, Kelly Executive Administrative Assistant13.05.2013

Nguygen, Washington I&E Engieneer01.05.2013

Albriktsen, Morten Harald VP Corporate Investments01.07.2013From Oman to Bergen

Mevatne, Knut Senior Advisor Operation01.07.2013From Singaporeto Bergen

Abotnes, Jone Senior Ship Operator01.07.2013From Singapore to Bergen

Vågenes, Tore Manager ERP Systems06.01.2013From Dubai to Bergen

Niekerk, Paul von Kooten Teamleader Projects01.08.2013From Oman to Rotterdam

BERgEN ROTTERDAM

RELOCATiONS

Simpson, Suzanne Customer Service Representative06.05.2013

SiNgAPORE

Tan, Si Lin Trainee01.07.2013

Mahbod, Ahmad Bin Operations Manager Region Asia10.06.2013

Teo, Lawrence Ship Operator03.07.2013

Sinha, AnjanTechnical Superintendent06.05.2013

Goh, KristyFleet purchasing28.06.2013

MANiLA

Huang, Jun JieTrainee 01.07.2013

29

NR.

03/ 1

3


Faannessen, Carl Martin General Manager/MOO01.08.2013

Olijve, Mattheus Managing Director01.06.2013

Furtado, Ajay JohnMarine Superintendent 01.08.2013

ROTTERDAM

Streefkerk. Albert Marinus Security Employee

01.08.1988

BERGEN

Bjørndalen, Geir Senior Surveyor

15.09.1988

25 YEARS

30 YEARS

ROTTERDAM

Urbanus, Frank Coenraad Allround Operator

28.09.1983

40 YEARS

45 YEARS

ROTTERDAM

Vroegindeweij, Aren Johannes Shiftleader

17.09.1973

ROTTERDAM

Brussee, Frits C1- operator

29.07.1968

It is with deep regret that we inform you that Chief Steward Virgilio Ros Zaragoza, (58 years old) sadly passed away on 26 June. He was at home when he suffered from a heart attack. Chief Steward Zaragoza started as Messman on board Bow Pioneer in

1992. Since July 2001, he had held the position as Chief Steward.

Our thoughts are with his family and friends for the loss they have suffered.

12 Filipino pioneers were lauded for their 25 years of exceptional service to the Company in a din-ner and award ceremony held in August at Traders Hotel Manila.

Executive Chairman of the Board, Laurence Odfjell, Senior Vice President of Ship Management Division, Helge Olsen and Vice President of Maritime Personnel

Section, Tore Henriksen, presented the certificates of recognition and tokens of appreciation to the Filipino mariners.

In his opening remarks, Laurence Odfjell thanked the awardees for their valuable contributions to the Company. The Executive Chairman also relayed an optimistic outlook regarding Odfjell's future as it marks

its 100th year in business next year.

Honouring the seafarers’ wivesThe wives of the mariners were also honoured during the ceremony. Rose Valmonte, wife of last year’s loyalty awardee, Captain Inocencio Valmonte, delivered a speech to give tribute to the wives of the awardees for being the force behind the seafar-ers’ success.

12 Filipino sailors awarded for 25 years of exceptional loyalty and serviceBy jennifer franco, information officer, manila

The awardees were: 2nd Mate Walfredo V. Aquino, Chief Steward Danilo B. Balbarino, 2nd Officer Alexander V. Buhat, 3rd Engineer Joel T. Buising, 3rd Engineer Maximo A. Cawaling, 2nd Cook Edwin S. Cinco, Captain Nicasio G. Ladroma, 3rd Engineer Renato S. Mendigorin, Able Seaman Rolando A. Peralta, Chief Steward Rosauro S. Ruta and Chief Steward Jacinto L. Tapales

in Memory of Chief Steward Virgilio Ros Zaragoza

30


FLEET & TERMiNALS odfjell quarterly magazine

as per 17 September 2013

TiME CHARTERED/POOL YEAR STAiNLESS NUMBER SHiP BUiLT DWT CBM STEEL, CBM OF TANkS

UACC Messila 2012 45 352 52 256 - 22 UACC Masafi 2012 45 352 52 565 - 22 Chemroad Hope 2011 33 552 37 161 37 161 18 SG Pegasus 2011 13 086 14 523 14 523 16 Southern Koala 2010 21 290 20 008 20 008 20 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 Ibis 2009 19 905 22 158 22 158 20 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 Kiso 2008 33 641 37 974 37 974 16 Bow Heron 2008 33 707 37 365 37 365 16 Celsius Mayfair 2007 19 999 21 714 21 714 20 Bow Fuji 2006 19 805 22 140 22 140 22 Bow Plata 2006 19 807 22 143 22 143 22 Crystal Topaz³ 2006 11 340 11 870 11 870 20 Crystal Diamond³ 2006 11 340 11 870 11 870 20 Moyra 2005 19 806 22 838 22 838 18 Bow Sky² 2005 40 005 52 126 52 126 40 Bow Architect 2005 30 058 36 290 36 290 28 Celcius Monaco 2005 19 999 21 851 21 851 22 Chembulk Sydney 2005 14 271 16 571 16 571 20 Golden Top 2004 12 705 13 388 13 388 22 Chembulk Wellington 2004 14 312 15 591 15 591 20 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 Andino 2000 16 121 17 622 17 622 30 Crystal Amaranto³ 1999 9 887 10 893 10 893 24 Crystal Skye³ 1998 9 554 10 442 10 442 24 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 9 346 9 346 17 Crystal Emerald³ 1994 8 143 9 346 9 346 17 Crystal Pearl³ 1994 8 143 9 346 9 346 17 Bow Baha 1988 24 728 32 363 19 662 25 JBU Sapphire³ 2009 19 860 22 144 22 144 16 JBU Opal³ 2009 19 865 22 129 22 129 16 JBU Onyx³ 2008 19 865 21 712 21 712 16

COMMERCiAL YEAR STAiNLESS NUMBER MANAgEMENT BUiLT DWT CBM STEEL, CBM OF TANkS 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 24 Number of ships: 88 2 228 178 2 499 494 2 028 383 2 412

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

CHEMiCAL TANkERS OWNED YEAR STAiNLESS NUMBER SHiP BUiLT DWT CBM STEEL, CBM OF TANkS

Bow Pioneer 2013 75 000 86 000 - 30 Bow Nangang 2013 9 156 10 523 10 523 14 Bow Dalian 2012 9 156 10 523 10 523 14 Bow Fuling 2012 9 156 10 523 10 523 14 Bow Lind 2011 46 047 48 698 - 29 Bow Elm 2011 46 098 48 698 - 29 Flumar Brasil 2010 51 188 55 452 - 14 Bow Saga¹ 2007 40 085 52 126 52 126 40 Bow Sirius¹ 2006 49 539 52 155 52 155 40 Bow Sea 2006 49 511 52 107 52 107 40 Bow Engineer 2006 30 086 36 274 36 274 28 Flumar Maceio 2006 19 975 21 713 21 713 22 Bow Summer 2005 49 592 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 Andes 2000 16 020 17 120 17 120 22 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 Victor 1986 33 000 34 500 21 975 31

31

NR.

03/ 1

3


TiME CHARTERED/POOL YEAR STAiNLESS NUMBER SHiP BUiLT DWT CBM STEEL, CBM OF TANkS

UACC Messila 2012 45 352 52 256 - 22 UACC Masafi 2012 45 352 52 565 - 22 Chemroad Hope 2011 33 552 37 161 37 161 18 SG Pegasus 2011 13 086 14 523 14 523 16 Southern Koala 2010 21 290 20 008 20 008 20 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 Ibis 2009 19 905 22 158 22 158 20 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 Kiso 2008 33 641 37 974 37 974 16 Bow Heron 2008 33 707 37 365 37 365 16 Celsius Mayfair 2007 19 999 21 714 21 714 20 Bow Fuji 2006 19 805 22 140 22 140 22 Bow Plata 2006 19 807 22 143 22 143 22 Crystal Topaz³ 2006 11 340 11 870 11 870 20 Crystal Diamond³ 2006 11 340 11 870 11 870 20 Moyra 2005 19 806 22 838 22 838 18 Bow Sky² 2005 40 005 52 126 52 126 40 Bow Architect 2005 30 058 36 290 36 290 28 Celcius Monaco 2005 19 999 21 851 21 851 22 Chembulk Sydney 2005 14 271 16 571 16 571 20 Golden Top 2004 12 705 13 388 13 388 22 Chembulk Wellington 2004 14 312 15 591 15 591 20 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 Andino 2000 16 121 17 622 17 622 30 Crystal Amaranto³ 1999 9 887 10 893 10 893 24 Crystal Skye³ 1998 9 554 10 442 10 442 24 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 9 346 9 346 17 Crystal Emerald³ 1994 8 143 9 346 9 346 17 Crystal Pearl³ 1994 8 143 9 346 9 346 17 Bow Baha 1988 24 728 32 363 19 662 25 JBU Sapphire³ 2009 19 860 22 144 22 144 16 JBU Opal³ 2009 19 865 22 129 22 129 16 JBU Onyx³ 2008 19 865 21 712 21 712 16

COMMERCiAL YEAR STAiNLESS NUMBER MANAgEMENT BUiLT DWT CBM STEEL, CBM OF TANkS 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 24 Number of ships: 88 2 228 178 2 499 494 2 028 383 2 412

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

ON ORDER YARD DELiVERY DWT OWNER OWNER

Hyundai Mipo Dockyard., Ltd 2014 46 000 Odfjell " 2014 46 000 Odfjell " 2014 46 000 Odfjell " 2014 46 000 Odfjell

Number of newbuildings: 4 184 000

STAiNLESS NUMBER TANk TERMiNALS LOCATiON OWNERSHiP**) CBM STEEL, CBM OF TANkS

Odfjell Terminals (Rotterdam) BV Rotterdam, NL 51 % 1 636 100 32 550 281 Odfjell Terminals (Houston) Inc Houston, USA 51 % 331 334 82 033 100 Odfjell Terminals (Jiangyin) Co Ltd Jiangyin, China 28.05 % 99 800 30 000 22 Odfjell Terminals (Dalian) Ltd Dalian, China 25.5 % 119 750 18 350 51 Odfjell Terminals (Korea) Co Ltd Onsan, Korea 25.5 % 313 710 15 860 85 Oiltanking Odfjell Terminal Singapore Ltd Singapore 25.5 % 365 051 13 520 79 Oiltanking Odfjell Terminal & Co. LLC Sohar, Oman 15.17 % 1 294 780 - 66 Noord Natie Odfjell Terminals Antwerp, Belgium 12.75% 296 780 50 800 230 Exir Chemical Terminals PJSCO BIK, Iran 35 % 22 000 1 000 18 Vopak Terminal Ningbo Ltd Ningbo, China 12.5% 71 050 8 000 39

Total terminals 10 terminals 4 550 355 252 113 971

STAiNLESS ESTiMATEDPROJECTS AND EXPANSiONS LOCATiON OWNERSHiP**) CBM STEEL CBM COMPLETiON Odfjell Terminals (Charleston) LLC Charleston, USA 51 % 79 491 - Q4 2013 Odfjell Nangang Terminals (Tianjin) Co.,Ltd Tianjin, China 24.99% 145 000 7 000 Q2 2014 Noord Natie Odfjell Terminals Antwerp, Belgium 12.5% 50 000 - Q4 2013/Q1 2014 Odfjell Terminals (Houston) Inc Houston, USA 51 % 30 800 30 800 Q2 2014 Oiltanking Odfjell Terminal Singapore Ltd Singapore 25.5 % 12 000 0 Q1 2015 Odfjell Terminals (Quanzhou) Fujian Fujian, China 25.5% 184 000 - Q1 2016

Total expansion terminals 3 new terminals 501 291 37 800

TANk TERMiNALS STAiNLESS NUMBERPARTLY OWNED BY RELATED PARTiES*) LOCATiON CBM STEEL CBM OF TANkS

Depositos Quimicos Mineros S.A. Callao, Peru 52 980 1 600 43 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 I, Brazil 75 710 - 35 Granel Quimica Ltda Ladario, Brazil 8 060 - 6 Granel Quimica Ltda Triunfo, Brazil 12 030 - 2 Granel Quimica Ltda Teresina, Brazil 7 640 - 6 Odfjell Terminals Tagsa S.A Buenos Aires, Argentina 38 826 530 56 Odfjell Terminals Tagsa S.A. Campana, Argentina 68 580 10 190 102 Terquim S.A. San Antonio, Chile 32 840 - 25 Terquim S.A. Mejillones, Chile 16 870 - 7 IMTT-Quebec Quebec, Canada 293 130 5 500 53 Total tank terminals partly owned by related parties 12 terminals 765 536 40 600 466

PROJECTS AND EXPANSiONS PARTLY OWNED BY RELATED PARTiES*) LOCATiON CBM COMPLETiON

Granel Quimica Ltda Aracruz, Brazil 30 000 - ready Q3 2015 Granel Quimica Ltda Santos II, Brazil 52 000 - ready Q4 2015 Granel Quimica Ltda Sao Luis II, Brazil 52 750 - ready Q3 2014 Terquim S.A. Mejillones, Chile 50 000 - ready Q3 2015 Granel Quimica Ltda Palmas, Brazil 10 000 - ready Q2 2014 Total expansion terminals partly owned by related parties 4 new terminals 194 750 -

Grand total (incl. related tank terminals partly owned by related parties) 22 terminals 5 315 891 292 713

*) Tank terminals and projects partly owned by Odfjell family.**) Odfjell SE's indirect ownership share

LPg/ETHYLENECARRiERS OWNED

YEAR NUMBERSHiP BUiLT DWT CBM TYPE OF TANkSBow Gallant 2 008 10 282 8 922 LPG/Ethylene 2 Bow Guardian 2 008 10 282 8 922 LPG/Ethylene 2

MAiN OFFiCE ODFJELL

Odfjell Se - Odfjell tankers AS - Odfjell Gas ASconrad mohrsv. 29, P.o. Box 6101 Postterminalen5892 Bergen, norwaytel: +47 5527 0000fax: +47 5528 4741fax: +47 5527 9070 (chartering/operations)

MAiN OFFiCE DiViSiONS

Odfjell terminals b.V.oude maasweg 6, P.o. Box 5010Harbour number 40403197 Kj rotterdam-Botlekthe netHerlandStel: +31 102 954 700fax: +31 102 954 719

Odfjell USA (Houston) Inc.13100 Space center Blvd.Suite 600, Houston, tX 77059, uSatel: +1 713 844 2200fax: +1 713 844 2211

Odfjell Singapore pte Ltd6 Shenton way, # 27-08/09 oue downtown 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 b.V.oude 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 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 61 Bulwer road, glenwood P.o.Box 4045 durban 4021, SoutH africa tel.: +27 31 2770880 fax: +27 31 2770899

Odfjell tankers AS, Korea branchroom 1815 gwanghwamum officia Bldg.163 1-ga Shinmunnojongno-gu, Seoul, 110-999 SoutH Koreatel: +82 2 775 9760fax: +82 2 775 9761

Odfjell Korea Ltd.136, cheoyong-ri,onsan-eup, ulju-gunulsan 689-892, SoutH Koreatel: +82 52 227 5527fax: +82 52 227 5567

Odfjell Chile LtDArosario norte 100, office 304las condesSantiagocHiletel: +56 2 2294700

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

Odfjell middle east JLt, Dubaiunits no, 2402 - 2404 Platinum towerjumeirah lake towersP.o.Box 75450, dubaiunited arab emiratestel: +971 4 426 9700fax: +971 4 426 9701

iNTERNATiONAL OFFiCES

Odfjell Singapore pte Ltd6 Shenton way, # 27-08/09 oue downtown 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 (Houston) Inc.12211 Port roadSeabrook, tX 77586, uSatel: +1 713 844 2300fax: +1 713 844 2355

Odfjell terminals (Charleston) LLC1003 east montague avenueP.o.Box 62589 north charleston, South carolina 29405, uSa

Odfjell terminals (rotterdam) b.V.oude maasweg 6, P.o. Box 5010Harbour number 40403197 Kj rotterdam-Botlekthe netHerlandStel: +31 102 953 400fax: +31 104 384 679

Noord Natie Odfjell terminals NVHaven 227-241Blauwe weg 442030 antwerp - Belgiumtel: +32 (0)3 543 99 00fax: +32 (0)3 543 99 38

Oiltanking Odfjell terminals & Co. Llc.P.o. Box 369Pc., 322 fajal al qubailSohar, Sultanate of omantel: +968 2670 0300fax: +968 2670 0306

Oiltanking Odfjell terminal Singapore pte Ltd1 Seraya avenueSingaPore 628208tel: +65 6473 1700fax: +65 6479 4500

Odfjell terminals (Korea) Co., Ltd136, cheoyong-rionsan-eup, ulju-gunulsan 689-892, SoutH Koreatel: +82 522 311 600fax: +82 522 376 636

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 Nangang terminals (tianjin) Co., Ltd room d310, Section d office Building, Servicing area, teda (nan-gang industrial zone) tianjin 300280, P.r. cHina

Odfjell terminals Quanzhou (Fujian) CO., LtD3rd floor, Xingtong Shipping tower, 6th Port St east, quangang district, quanzhou, fujian Province, 362800 P.r. china

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

TANk TERMiNALS PARTLY OWNED BY RELATED PARTiES
