OQ October2012

ODFJELL
OCTOBER 2012
www.odfjell.com
CONTENTS
Odfjell Quarterly EDITOR: Margrethe Gudbrandsen EDITORIAL COMMITEE: Karin Ryland Blom, Brit A. Bennett, Matt Duke, Geirmund Drivenes, Leif Gunnar Alvr, Theo Kruithof, Henning Lseth CORRESPONDENTS: HOUSTON: Rebecca Snyder PHILIPPINES: Jennifer Franco Deadline next issue: 9 November 2012 Design: Bruno Blanchard, Cox Graphic production: Jannicke Gildernes, Cox Print: Scanner Grask AS Cover: Photo by Almanh Hernal Photo this page: Photo by: Almanh Hernal
Highlights Odfjell re-enters the gas market 04 Landmarks Odfjell orders four newbuildings with options 09 Odfjell issues new bond programme10 QHSE Safety shutdown at Odfjell Terminals (Rotterdam)11 Safety culture towards sustainable performance 12 Energy Saving Campaign 15 The Good Habit Safety Talk 15 Briengs Global ICT Ship Support00 from the Manila ofce 16 Always On status 17 Odfjell Terminals (Charleston) on track,00 but with hidden surprises 18
Odfjell Nangang Terminals (Tianjin) going forward 19 Shipping ERP on track 20 New software platform for Odfjell Terminal (Houston) 21 Portrait 22 Sea and shore OiPs staff summer outing 2012 23 Odfjell Golf Tournament 2012 24 Foskor F21 Marathon 26 Tribute to 12 Odfjell pioneers 27 Service awards Norwegian Ofcers 27 Personnel 28 Fleet and terminals 30 Ofces and addresses 32
Texts submitted to Quarterly may be subject to editorial adjustments.
ODFJELL
QUARTERLY MAGAZINE
Dear Colleagues,
As many of you know, the most pressing issue during recent months has been the situation at our terminal in Rotterdam (OTR), which again became a major media topic at the end of July when we decided to execute a safety shut-down. The most typical question asked in this context is what happened? To give a good and thorough answer is not that easy since this is not the result of a single accident, although the butane leakage last August can be said to have started the chain of events. Our problems, as they gradually have been revealed through internal and external investigations, go much further back in time and have to do with lack of systematic maintenance of certain critical systems, a reactive safety culture and in general terms, a terminal that was not in compliance with the HSE standards we have set for ourselves and also therefore of many stakeholders, including the regulatory authorities. The consequences have been and still are severe, with a particular constraint at the time of writing on our employees, the members of the Management Team and other key personnel. In light of some of the unrest, let me make it very clear that we have the full and strongest condence in the Management Team. Together with our partner, Lindsay Goldberg, we decided recently and have already started preparation of a recovery plan and reorganization that OTR will develop together with the Works Council. It will require time, funds and a lot of resources, but you can all rest assured: we will succeed in bringing OTR to a state of the art terminal at this important port and junction for petrochemicals and oil products. At the same time as the current situation hurts, and we recognize that even tough with a social plan there will be pain associated to the restructuring process, it can also be seen as an opportunity for the majority of the employees to safeguard a sustainable and safe future for the terminal. At least that is my own and our Boards expectation, an expectation I have heard many of my colleagues in Rotterdam share with me. An important question in this context is what we have learned so far? I could mention a number of things, but want to highlight just one. We know from experience that major accidents have in the past brought us into the spotlight of our stakeholders and the publics attention, and as such have become costly and unpleasant incidents. At OTR, we fortunately have not had a major accident and from this perspective, the entire situation can be described as a near-accident; but a major and serious one. So a thing we have learned is that it does not only take a big accident to end up as a focus point of stakeholders and public attention. Of course the enhanced internal and external scrutiny has revealed further weaknesses, which we should have detected via our quality management system. In this context however, we should consider this valuable insights for how to prevent this from happening here or elsewhere in the future. In other words, we need to better ensure that our ships and terminals are always properly maintained, rules and regulations adhered to and that safety is and stays an integral part of how we all plan and execute our work. In sum this means that we all have to take a more proactive approach to the risks we are faced with in our type of business. This is described in the Bow Tie Model, which you nd more about in this issue of Quarterly. This Model will become one of the new fundamental components of our improved approach to safety. With safety we cannot be complacent, but always recognize that we can do better. Understandably OTR has taken a lot of management attention lately. On top of that, unfortunately, the chemical tanker market took an unwelcome dip and has remained slow since last April/May. Our nancial results suffer therefore, so it seems impossible now that 2012 is going to become what we had hoped and budgeted for. Our balance sheet and cash position, however, remain relatively strong, still leaving room to maneuver, although it goes without saying that we again have to put cost reductions on the agenda as we now are about to start the 2013 budgeting process. The fact that we have the ability to maneuver is in fact proven by our ordering of four new coated ships to replace some of our recycled vintage tonnage, as well as our reentry into the LPG/Ethylene sector. Both transactions seem to be good from a timing as well as price perspective, and the response from market specialists therefore, have been very positive. So the picture is not entirely negative... The fact is, despite our many problems and challenges, that we are well positioned for the future, in possession of an abundant amount of resources and competence, and therefore will be able to carry through? Lets all roll up our sleeves and do it together!
Jan A. Hammer, President/CEO Odfjell SE
O D FJ E L L Q U A R T E R LY M A G A Z I N E
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ODFJELL QUARTERLY MAGAZINE
Odfjell re-enters the gas market

By Margrethe Gudbrandsen, Communication Manager, Bergen
LPG facts
Gas is broadly divided into two categories, Liquid Natural Gas (LNG) and Liquid Petroleum Gas (LPG). LPG
LPG is the generic name given to the commercial gases propane and butane. In addition to these cargoes, a signicant number of LPG carriers are also able to transport ammonia and petrochemical gases (petchem) such as ethylene, propylene, butadiene and vinyl chloride monomer (VCM). LPG occurs naturally in crude oil and natural gas, and can also be found as a by-product of the various processes in an oil renery. At normal temperature and pressure, LPG is gaseous. When placed in a reduced temperature environment and under moderate pressure, this gas condenses into a liquid, hence LPG.
LPG is used as an energy source for cooking in many households
Bow Gallant entered the Odfjell Gas Carriers eet on 31 August 2012
In June, Odfjell decided to reenter the gas tanker market by acquiring two modern LPG/ Ethylene gas carriers of about 9,000 cbm carrying capacity. Our ambition is to become one of the leading players in the market for small LPG carriers, says Jan A. Hammer, President/CEO of Odfjell.
The acquired vessels, from two Singaporean companies controlled by the BLT Group and built in 2008 at STX Shipbuilding in Korea, are renamed Bow Gallant and Bow Guardian. The vessels were delivered to us in August and September. The decision to buy these vessels is a result of the sectors growth potential and the Companys experience in the market. We have a lot of know-how and competence related to this market. Our brand name and global marketing/operational network will give us a competitive advantage, Jan A. Hammer says.
it is possible to make a positive contribution to the bottom line. Despite the optimistic conditions, our main focus is to learn the markets and the operation of the vessels. In the longer term the expectations are positive, and we think the U.S. shale gas developments will impact this market, hopefully in a positive way, says Knut H. Holsen, SVP Odfjell Gas.
petroleum feedstock and is often used for plastics, car components, housing material and insulation. The petrochemical gases butadiene and propylene, are also derived from cracking petroleum feedstock, but the end product tends to be synthetic rubber tyres, paints, plastics, packaging and textiles.
LNG
LNG is methane that has been cooled to around -163C, at which temperature it liquees and can be transported in insulated tanks aboard specialized vessels. The majority of LNG carriers have historically been ordered on the basis of long-term arrangements for particular projects. However, this has taken a turn over the last few years and it is now not unusual for LNG carriers to be ordered independently of a specic project. Demand for LNG has continued to increase in recent years with trade growth of 21.3% recorded in 2010 and an estimated rise, according to Clarksons, of 6.5% in 2011.
History
Odfjell was an operator in the petrochemical gas market in the 70s and the 80s with two vessels (Bow Elm and Hardanger) sailing in the Odfjell WestfalLarsen Tankers pool. Flumar, fully owned subsidiary of Odfjell also operated a small LPG carrier until November 2011.
LPG in daily life

LPG is used for residential and commercial purposes. Residentially, LPG is used for heating, refrigeration, cooking and generating electricity. Commercially, LPG is used to produce and manufacture metals, in engineering equipment and ships, as well as in ceramics and agriculture. LPG is also a source of fuel for LPG powered cars and buses. In comparison to petrol and diesel, LPG produces less carbon monoxide, greenhouse gases and sulphur than traditional fuels, hence a positive environmental effect. The petrochemical gas ethylene is derived from cracking
Favourable LPG market

The LPG market is favourable at the moment with a reasonable balance between supply and demand. With the right combinations in the present market
Bow Gallant
W W W . O D FJ E L L . C O M
LPG markets
By Christian Stensaker, VP Business Development & Projects, Bergen
Before going further into the market dynamics of LPG, it is useful to broadly understand the various segments within the trade. Dedicated LPG carriers vary in size and form. The gases are transported in liquid form because their physical and chemical properties do not allow them to be carried in vapour form. Typically, LPG carriers are divided into three main categories:
Fully pressurized (F/P) Semi-pressurized and refrigerated (S/R) Fully refrigerated (FR)
The layout of Bow Gallant
Semi-pressurized and Semi-refrigerated vessels (S/R)

A semi-refrigerated vessel is also called semi-pressurized. S/R vessels cargo system consists of a refrigeration plant and insulated pressure tanks with lower cargo tank design pressure as opposed to fully pressurized vessels. Cargo can be discharged to terminals with both pressure tanks or refrigerated tanks, due to booster pumps and both heating and cooling facilities tted on board. Number of cargo tanks are typically ranging from 2-6. Advantages compared to fully pressurized vessels: increased cargo cubic capacity additional types and more advanced cargo can be carried better operational flexibility
Fully refrigerated vessels (FR)

A fully refrigerated vessel has compressors on board and maintains tank pressure at close to ambient pressure by cooling the LPG to below its boiling point (butane to just below 0 C and propane to approximately 42C). Fully refrigerated tankers are built to carry liqueed gases at low temperature and will typically move between terminals equipped with fully refrigerated storage tanks. These carriers have prismatic-shaped cargo tanks, allowing the carriage of cargoes at temperatures as low as 48C, marginally below the boiling point of pure propane. Bow Gallant and Bow Guardian are both semi-pressurized gas carriers.
Fully pressurized vessels (F/P)

F/P vessels are typically ranging in size from 3,000 to 7,500 cbm (according to DNV). A F/P vessel does not have any compressors and cannot discharge into refrigerated storage. Loading a F/P vessel from refrigerated storage can be very slow. The cargo is carried in cylindrical or spherical steel tanks at an appropriate storage temperature. The advantage of these vessels is that the cargo is carried at an ambient temperature and no re-liquefaction plant is required. The vessels are most economical in coastal trade.
LPG/Ethylene eet and competition

The S/R and ethylene eet is currently going through a transition, in that the idea of a 30-year commercial life for a vessel is about to be ended. The market should observe a positive effect of this as the new consensus is to reach a supply demand balance. Some of the newbuilding programmes now taking place among Odfjells competitors are merely replacement of aging tonnage.
As for development within tonnage size, these can be broadly grouped as follows: The 8,000 - 9,000 cbm size will increasingly be considered the size for short to medium haul trade as an extension of
the 6,500-7,200 cbm ethylene/petchem carriers. The 10,000 - 17,000 cbm size will gradually become the preferred size for long haul ethylene/petchem shipments, with 12,000 cbm representing the 'base size'. There is only a handful of global ethylene operators. With few exceptions, they operate under a pool or commercial management structure typically consisting of two or three members. The ve largest players have on average a fleet of 12-14 vessels. A few significant newbuilding orders have been placed
although uncertainty exists as to how many will nally be delivered. In addition, there are a few players that focus on a somewhat larger 20,000+ cbm segment with some ethylene capacity. The market that Bow Gallant and Bow Guardian are entering has a controllable scope with a limited number of operators dominating the scene. Interest from outsiders to enter the petchem/ethylene market is apparent but so far no-one has made any signicant move. As of today, the total fleet of ethylene carriers stands at fewer than 130 units, hence it will not take much to make an impact.
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The petchem market

The semi-refrigerated vessels (excluding ethylene carriers) and fully refrigerated carriers generally carry traditional LPG cargoes such as propane, butane and ammonia.
The Bow Gallant and Bow Guardian, however, are LPG carriers with ethylene-carrying capacity. Statistically, such vessels are employed in the ethylene market about 50% of the time, while they are used to carry petchems for the remaining 50%. Volumes of ammonia and LPG cargoes carried by ethylene carriers are therefore marginal. Total volumes of LPG, ammonia and petchem shipped in 2011 (Drewry Q2, 2012): LPG 63 million mt or about 70% Ammonia 14 million mt or about 16% Petchem 12 million mt or about 14% Growth in seaborne trade for petrochemical gases is expected to be 4% in 2012, 2.7% in 2013 and 3.4% in 2014. These gures are in line
with or slightly above corresponding expected growth gures for ammonia and LPG. Middle East export accounts for about 42% of total LPG, ammonia and petchem volumes, with countries in South and North East Asia as the largest receivers. This situation is not set to change, as new expansions in the Middle East are planned for the period 2014 to 2016. This expansion, coupled with Asian demand growth, is expected to be the bedrock of trade growth also in the years to come. The worlds largest single importer of LPG, Japan, reported imports of 12.4 tonnes in 2011, which is up from 10.2 million tonnes in 2010 and is the third consecutive year of post-recession improvement. (Source: Clarksons Spring 2012)
investments to monetize on the shale gas advantage. If and when all the projects come to fruition, the North American market will not be able to absorb all the additional derivative capacity, and it is expected that some of the production will be earmarked for export markets. Some analysts describe the US Gulf Coast as the 'new Middle East' with large amounts of export-oriented capacity destined for countries outside North America. (Source: CMR, Shale Gas Impact on C2, C3 and C4 Derivatives) By 2010, ethylene was produced by more than 110 companies in 55 countries. To meet the ever increasing demand for the product, production facilities keep being added globally and particularly in the Persian Gulf and China. According to Chemical Market Resources Inc., a total of 15 new cracker investments and expansions have been announced in the US in the period 2012-2017, all relating to ethylene capacity.
Shale gas and Ethanol

Due to the presence of large volumes of ethane in shale gas, ethylene will be an interesting cargo in the years to come. The US petrochemical industry is set to see signicant
Experienced gas carrier crew

By Jennifer Franco, Information Ofcer, Manila
Odfjell in the Philippines (OiP) will work with Orient Ship Management(OSM) in managing the crew for Odfjells two gas tankers. The two manning companies will each provide an equal number of crew for the vessels.
The collaboration is a practical operational decision considering Odfjells gradual re-entry to the market with only two vessels. The collaboration with OSM will provide us with experience in developing an excellent Odfjell crew pool to man our gas carriers. Odfjell is aiming to grow and become an important player in this sector. Once we add more carriers and expand our fleet for the gas market, OiP will solely handle crew management, says Marites Villena, Crewing Manager for the gas carriers. OSMs experience in crew management for gas tankers fuelled the partnership.
Captain Ole Breimo, Senior Marine Superintendent from Fleet Bergen, on Odfjell gas procedures
Bow Gallant and Bow Guardian, took part in training at Odfjell Academy in Subic in July and August. The week-long training, led by experts from the Academy and Fleet Bergen, covered discussions on Odfjell familiarisation, systems and procedures, gas operations and other topics relevant to on board safety. Captain Ole Breimo, Senior Marine Superintendent from Fleet Bergen and trainer on Odfjell gas operation procedures said the
recent training has been very productive: It was a good two-way communication. This is a good opportunity to develop the competence of ofcers and crew for our gas tankers, he said. Odfjell Academy in collaboration with Fleet Asia, Fleet Bergen and the Crewing Department of Odfjell in the Philippines (OiP) organised and designed the materials for the training.
Training and Company familiarisation

The gas carrier crew chosen from Odfjell and Orient Ship Management (OSM) to run the
The Odfjell Gas unit

Odfjell Gas is currently run by a small unit. From left; Harald Folland, Knut H. Holsen and Christian Stensaker
Closing the last gas trade in 1987 and starting the rst in 2012
Knut H. Holsen is the newly appointed Senior Vice President for the unit which currently consists of three employees. With background in the gas industry he is in many ways representing the red thread in the gas segment. Rumours say that you were the one who closed the last gas trade in 1987 and now here you are starting the rst again in 2012: In a way that is correct. The last of our gas ships were sold in 1987, and the vessel was xed from South America to the Far East with a cargo of Propylene. It was done with a Japanese charterer through our ofce in Houston. And this week we have concluded the rst cargo on the Bow Gallant and we are very excited, Knut H. Holsen says.
Various possibilities for expansion

For now, both the unit and the fleet is small.
Within the next few years we want to become a respected player in the market for shipping of petrochemical gases worldwide. There are various ways this can be done and we are in the process of exploring these at the moment, Holsen continues. All of the shore based personnel have great knowledge and experience from the complex chemical tanker market. However, unlike the multiple cargo programmes and numerous ports of load/discharge that parcel tankers endure, the gas market is much smaller and most of the time it involves one cargo on each vessel per voyage, one load and one discharge port. Nevertheless, even though the markets are different, there are still many synergies and we can take many advantages from our experience in the chemical market. Although our clients would be different people, many of the actual customers would be the same,
and we would be serving the same line of products and markets which is an advantage.
Why chose a new player

Odfjell has a good standing as we are seen as a respectable and major player within the chemical tanker market. However, despite having a sound history with the chemical market, we will be regarded as a new player within the gas market. Why should customers choose a new player, such as Odfjell, above existing customers; what are the major advantages of using Odfjell? I do believe we have a good name in the industry. Our customers should expect a high standard of performance. The ships we have acquired are good vessels and we expect that we shall be able to service our customers in a very favourable way, ends Holsen.
The Gas unIt

Name: Knut Henrik Holsen Position: SVP Odfjell Gas Previous experience: Spent over 25 years with Odfjell in various positions in Marketing/ Chartering. During my early days as a trainee I got involved in the chartering of the gas vessels and at that time we operated four ships and they were trading in all corners of the world. Since the late 80s the main focus has been India/Middle East and later on Africa. This is a very exciting part of the world and it has lots of opportunities. Name: Christian Stensaker Position: Vice President Business Development Main tasks: Business Development, Commercial operation Previous experience: Experience as Service and Pool Manger for Chemical and CPP vessels. Managing Director for Iver Ships and later Brostrom Tankers in Singapore. Vice President in DNB Singapore, Corporate Banking Division for Shipping. Managing Director for Hellespont Tankers in Hamburg, Germany Why gas? It is an exciting new opportunity in an industry that indeed has a promising future. Name: Harald Folland Position: Senior Ship Operator Main tasks: Safe and cost-efcient ship operation for vessels allocated. Previous Experience: 4 years Nautical studies at lesund Maritime College, Deck ofcer with Stolt Parcel Tankers, 9 year as operator/ senior operator with Odfjell Tankers. Why Odfjell Gas? Intrigued by the possibility to be part of something new from the very beginning and working in a small organisation with opportunities to affect the way we move forward.
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Odfjell Gas Carriers represents a new division within the Odfjell Group. Given that they are still quite a small part of the group, they will initially have to be quite self sufcient. Taking delivery of the new ships and ensuring that they have the right personnel in place for the Bow Gallant as soon as it was delivered has meant that it has been a hectic start for this new division. In addition there have been other issues to manage such as nding ofce space and ensuring staff are released from previous positions.
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Odfjell Gas in the 80s

By Knut H. Holsen, SVP Odfjell Gas, Bergen
Operating gas carriers is nothing new to Odfjell. In the early 80s the joint venture Odfjell WestfalLarsen Chartering had the commercial management of Hardanger (owner Westfal-Larsen & Co AS) and Bow Elm (owner AS Rederiet Odfjell).
In 1983 the Norbelgas pool was formed, which included the vessels mentioned above plus Einar Tambarskjelve (owner Norgas) and Coral Temse (owner Exmar in Belgium). This pool lasted until 1985. The vessels Hardanger, Bow Elm and Coral Temse were all about 8,000 cbm, with Einar Tambarskjelve as the big sister of about 8,500 cbm, all ethylene carriers. Coral Temse and Einar Tambarskjelve were traded in the petrochemical gas market, while Hardanger and Bow Elm were so called multi purpose carriers, rst of its kind and were traded both with chemicals and gases, whatever gave the best return. The markets were very difcult in the early 80s with a substantial increase in the supply of tonnage both for chemical tankers and gas ships. Odfjell and Westfal-Larsen & Co AS decided to leave this market in 1987 and focused their investments on their core business. Hardanger and Bow Elm were sold to Norgas and renamed Norgas Voyager and Norgas Discoverer.
Old Bow Elm (on top) and Hardanger
landmarKs
Odfjell orders four newbuildings with options

By Tore Jakobsen, SVP Corporate Investments, Bergen
The Hyundai Mipo Dockyard (HMD) in Ulsan, Korea
Following extensive technical and commercial negotiations, four shipbuilding contracts were signed between Odfjell Chemical Tankers AS and Hyundai Mipo Dockyard (HMD) in Ulsan, Korea on 31 July.
The contract price is below USD 40 million per unit, and we have also signed an option agreement for 2+2 contracts at the same price levels, to be declared within four and three months respectively. Delivery of the rst four newbuildings will be January, March, May and July 2014. The newbuildings will replace the P&F and KSEC class which is gradually being phased out by recycling. The specication, with eco-friendly design, has been made to what we call Odfjell Standard, including less fuel consumption in the range of 10-12% compared to other chemical tankers of the same size delivered the last four years.
From the signing ceremony. Representatives of HMD management, headed by Senior Vice President T.D.Lee, R.S.Platou Shipbrokers, Petter Arentz and the Odfjell team, Senior Vice President Tore Jakobsen, Vice President Geir Almestad and Senior Project manager Arnt Kaare Simonsen Meyer.
The main dimensions and particulars of the vessels shall be:

Length overall max 182.7 m Breath, moulded 32.2 m Design draught 12.5 m Deadweight, design draught 46,310 MT Cargo capacity (100%) min 54,000 m3 No of cargo tanks 20 +2 Tank coating 25 % zinc / 75 % epoxy
Continued weak results

A second quarter 2012 EBITDA of USD 27 million reects primarily a soft chemical tanker market. The overall tank terminal earnings remained steady during the period, despite increasing challenges and costs at Odfjell Terminals (Rotterdam). Subsequent to this period of reporting, this terminal carried out a safety shut-down of operations.
For the chemical tankers business, second quarter of 2012 showed a weaker performance with reduced demand and softer freight rates. The time charter result ended down 15% compared to rst quarter of this year. The global economic outlook remains weak, as the uncertainty surrounding the European debt crisis continues and the macroeconomic
picture in China appears to be deteriorating. A moderate recovery of activity, particularly in the spot market, may stimulate some rate improvements, similar to those seen in fourth quarter 2011 and rst quarter 2012. We expect the situation at OTR to negatively impact the results of our tank terminal activities for the remainder of the year.
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LandmarKs
Odfjell issues new bond programme

Odfjell established a 500 million Singapore dollar bond programme in the Singapore market in September.
Currently Odfjell has two NOK bonds on outstanding in the Norwegian market that matures in 2013 and 2017. We also have a history in the Singapore bond market, with a bond issued in 2006 that matured in 2011. The intention was to renance this bond at maturity, but as the market was unfavorable at that time we decided to wait for improvement in the market. To prepare for this, we have established a bond programme in Singapore where we may issue
bonds in the Asian investor market, says Tom A. Haugen, VP Finance in Odfjell SE. And he continues: - Odfjell has the opportunity to participate in many exciting projects within the chemical tanker market, tank terminals market and in the gas carrier segment. The proceeds from a potential bonds issue may be employed to materialize these projects, to repay debt and for general corporate purposes.
The banks assisting Odfjell are DBS, HSBC and DNB Singapore
Tom A. Haugen, VP Finance, Odfjell SE
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New Document Management System Project

By Arne Sletten Helgesen, Project Manager, Bergen
This summer a new project was launched which focuses on understanding our requirements regarding a new Document Management System. Currently our documents are stored in several places; in le shares, as attachments to emails, in SharePoint Team Sites and in several lines of business applications. The many storage areas means it is time consuming to store, retrieve and dispose of documents. A New Document Management System will introduce options for version control, document templates, security and compliance.
The reasons for starting this project are threefold: to establish an information lifecycle strategy for document retention and deletion to have alignement. There are several initiatives present today, focusing on improving document management systems. With this project we are aiming to ensure that we do not end up with a series of competing systems
a document management system can improve our overall effectiveness, especially with regards to the retrieval of documents, but it will also include better options for document control and security The project group members are from all main departments and we will create a broader reference group that should ensure that all
The many storage areas means it is time consuming to store, retrieve and dispose of documents.
ofces are also kept informed during the project. We are now at the very start of the project and our focus is to grasp all our requirements for a Document Management System. We plan to have a report ready by early October which will list our main requirements and which will also including a project scope and budget.
QHSE
Safety shutdown at Odfjell Terminals (Rotterdam): Leaving nothing to chance

By: Theo Kruithof, Communications Ofcer, Odfjell Terminals (Rotterdam)
In previous Quarterly issues we wrote about the environmental and safety situation at our Rotterdam terminal. Some far-reaching events have taken place since then.
Following the BRZO (Major Accidents (Risks) Decree) inspection by the authorities of March this year, Odfjell Terminals (Rotterdam) (OTR) has taken many steps into the right direction in order to meet the requirements that resulted from the BRZO inspection.
Approvals
Tanks can only be taken back into service after approval by the authorities. Approval is given after the authorities have ascertained that the tanks re ghting equipment is working properly and the tank inspection data are accepted. OTRs inspection data are based on the latest Risk Based Inspection methodology EEMUA-159. By mid september the authorities had released 50 tanks, or 483,800 cbm capacity. At the same time, OTR made full use of the safety shutdown by performing additional safety checks to the storage tanks and the other infrastructure, and by carrying out repairs and upgrades where needed. Consequently, tanks will only be taken back into service when both the authorities and OTR give the green light.
Comprehensive modernisation plan

The staff at OTR is determined to have as many tanks as possible back into safe service again as soon as possible. The tanks with the carbon steel re ghting lines will be subject to a broader renovation plan. Consequently, substantial parts of the terminal will remain idle for a while since the technical upgrade will take place one tank pit at a time. OTR is now working on a comprehensive modernisation plan. Moreover, OTR is dedicated to improving the integrity of its tanks as well as permanently improving the safety and environmental performance at its terminal. OTRs ambition is to comply with the highest industry standards.
Safety shutdown
One of the requirements following the March inspection involved the live-testing of cooling and foam extinguishing lines. After having tested a number of tanks, OTR concluded that the tanks equipped with carbon steel reghting lines were not working properly. As a result of unconrmed rumours about the new parts of the terminal showing defective extinguishing equipment as well, OTR decided to declare a complete safety shutdown. The announcement was made on the 27 July.
Sympathy for customers

On the one hand, the safety shutdown is a disappointment: OTR has let its customers down. Many are depending on the services that OTR normally renders. OTR very much regrets putting its clients in this difcult position and wishes to express its apologies once
OTR is testing the reghting system
Demolition of nine tanks in tankpit 9A
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again. Unfortunately, OTR did not have any other option, given the circumstances. We put safety rst. On the other hand, the authorities and OTR are scrutinising all tanks, ruling out any safety issues. In addition, OTR continues to improve its Safety Management System, thereby further increasing the control over safety risks.
QHSE ODFJELL QUARTERLY MAGAZINE
Safety culture towards su

Ship Management steadfast commitment to the reinforcement of safety culture means not only strengthening leadership involvement but also developing concrete actions to translate safety objectives into daily operations. This entails ensuring awareness and loyalty to the organisations unequivocal vision, core values, message, expectations and goals that lead to excellent safety performance both on shore and on board.
The Ofcers Conference in Manila on 28-30 August, led by managers from Ship Management and Odfjell Tankers, proves our focus on guaranteeing the top managements competence and commitment in matters relating to sustained safety performance. The three-day workshop also underlined the continuous pursuit for positive improvement on the proactive approach to safety through various programmes and safety message dissemination campaigns.
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Toralf Srenes, SVP QHSE discussing corporate QHSE
Proactive safety message: The Bow Tie Model

Helen von Hirsch Eriksen, Organisational Psychologist from Proactima and one of the principal presenters during the conference stressed that Ship Management safety culture leans towards proactivity: - We aim to create a proactive safety culture where the emphasis is placed on putting barriers to stop incidents from happening, i.e. to reduce probability of an accident. The shift to a proactive management of safety is a work in progress that entails consistent communication of the safety message, the Bow Tie Model. Ship Management has designed its own version of this internationally recognised model that denes a proactive approach to safety. HSE Manager Harald Bauck said that Ship Management has already put in place necessary barriers to reduce consequences of an accident, but in order to develop a proactive safety culture, the focus must be on preventive actions. He added that understanding the Bow Tie Model and its implications on safety of operations is the
beginning of a real shift towards proactivity: - Our focus must move from the right-hand side to the left-hand side of the model.
activity poses a potential danger. This card will be given to all employees within Ship Management. The efforts in making the safety message known both on board and on shore has been yielding optimistic results. Vice President of Fleet Management in Bergen, Geirmund Drivenes, shared that whilst the message is spreading, there is always a need to ght against complacency through a robust and continuous information campaign:-We need to renew and keep driving the message until we all think safety from top-level management to everyone in the organisation. But putting the message out is only the beginning of the cultural change. The real work lies in everyones combined effort to be proactive. This change has to start from the top of the organisation.
Putting the safety message out

- One of the elements in safety culture is values. They describe our identity and should be the baseline which motivates all actions for ship and shore staff, Senior Vice President of Ship Management Helge Olsen said in his presentation during the Ofcers Conference. To reinforce the Safety Culture campaign, we have included proactive safety culture in the core values which will frame the norms, attitudes and behaviours of everyone in the organisation. Ship Management has also developed materials that will serve as visual representations of our commitment to move towards a more proactive management of safety. Posters and tarpaulins of the Bow Tie Model and core values are displayed on board vessels and in shore ofces, and the use of the Stop Work Authority card will be implemented soon. The Stop Work Authority card will serve as a visual aid for all employees indicating that they need to STOP WORK when the
Leadership development to drive cultural change

An organisations success in developing a safety culture is only as good as its leaders adherence to the safety philosophy. The
ustainable performance
HSE Manager Harald Bauck discussing about the Bow Tie model with the ofcers
annual safety-themed Ofcers Conferences and rigorous competence trainings for Management Level Ofcers (MLOs) and Operational Level Ofcers (OLOs) are actions to tap leaderships vital role in steering the cultural shift to proactive safety. Running in complement to these trainings is the awaited launch of the Leadership Development Programme for Mariners which will be spearheaded by Owners Representative of Odfjell in the Philippines, Tore Henriksen. This leadership training will be provided to all mariners starting with the MLOs and OLOs. The RD 12 Inspection Regime, The Technical/Marine Superintendent visits on board, further involves leadership in the Ship Management safety culture programme. According to Mr. Drivenes, the RD 12 carries in it many of the most vital aspects when building and developing a healthy Safety Culture: - In Odfjell, both Technical and Marine Superintendents are required to visit their ships at regular intervals, and these visits are to be organised in accordance with the RD 12, he says.
The status of Odfjells safety culture according to the Ofcers

MLOs and OLOs present during the Ofcers Conference all agree that the awareness of Odfjells safety culture is starting to get a strong foothold both on shore and on board. However, everyone echoes the opinion that shifting to a proactive safety culture is still a work in progress. - In terms of safety, we have improved due to a heightened awareness on our safety expectations and goals. However, there is still a strong need to change peoples attitudes and behaviours towards safety, said Chief Engineer Dante A. Mangampat. Chief Engineer Leo Gegajo, Head of Odfjell Academy, reiterated values as the springboard of proactivity: - In my opinion, we still have work to do to establish a proactive safety culture in our organisation. We need to strengthen and align our values with our desired culture because our values frame our actions.
best practices that will drive the wheel of cultural change in motion. Odfjell is a learning organisation whose sustainable safety performance depends on its peoples involvement, both on shore and on board, in ensuring that every vessel has zero accidents. The organisation aims to develop a working environment where reporting incidents is built on an atmosphere of trust and openness, to empower people to challenge unsafe actions and working conditions regardless of their rank and positions, and to harness loyalty of the workforce in matters pertaining to safety. Several underpinning safety issues are yet to be addressed, but we already have our foot in the door. - We have to work hard and be patient. We cannot change culture in two days, but we can change culture in two years, and we will, Mr. Bauck concluded.
The road to sustainable safety performance

The Safety Culture programme is a continuous search for improvements and
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QHSE ODFJELL QUARTERLY MAGAZINE
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The Bow Tie Model

By Helen von Hirsch Eriksen, Organizational Psychologist Proactima
The picture above will for some of you be familiar. It is the Ship Management Bow Tie Model, and those of you that have been to a Captains workshop, an Ofcers Conference, or been visited by a superintendent for a Reference Document 12 (RD12) meeting, will be somewhat familiar with it.
We have developed the model further so that it is specic to our organisation and describes how risk is to be managed in all activities in Ship Management. It is also a very good way to visualize the type of culture we are developing in Ship Management; a preventative safety culture. It is vital that increased emphasis is placed on the reduction of probability or the likelihood that an activity should occur. In other words; we should work to eliminate risk before an activity is initiated. Thus we have a culture of proactivity. This is done through quality in planning activities. The centre of the model represents a given activity and the word risk is included in this box to visualize that all activities hold an element of risk that must be managed. The white arrows passing from left to right represent the
risk itself. As you can see there are barriers stopping some of those arrows from passing through. These barriers represent an action we have done, or a physical barrier that we have put in place, to stop the risk. The important thing to note here is that there are two types of barriers depending on which side of the activity it occurs. Barriers that are used before an activity are called probability reducing barriers, whilst those on the right are called consequence reducing barriers. Examples of probability reducing barriers (on the left side) are the Task Risk Assessment, the Pre Work Talk, competence and the Work Permit. Examples of consequence reducing barriers (on the right side) are Person Protective Equipment, detectors and re-ghting measures. I often use driving your car as a good way to exemplify this. The activity is driving. Consequence reducing barriers are seatbelt, airbags, ABS brakes. These reduce the consequences of a possible crash for the driver. However, to lessen the likelihood of a crash occurring in the rst place, probability
reducing barriers such as slowing the speed, being a competent driver and following the rules of the road must be used. The very same rationale can be applied to any given activity we carry out. I said earlier that the key to being proactive is quality of the probability reducing barriers. If we do not focus on the quality of probability reducing barriers such as the Task Risk Assessment or the Pre-Work Talk they will not be effective in reducing risk. Only when the Task Risk Assessment is carried out in the right manner, with the right people talking about the right risks, and making sure that they have a common understanding of the elements in the activity, can we say that it is a quality barrier. Therefore, Odfjell Ship Managements goal of establishing a proactive safety culture depends on increased attention to planning of activities, knowledge of the procedures, how we talk about risk in the Task Risk Assessment, Pre-Work Talk etc, and how well leaders follow up these activities.
New ideas for Energy Saving Campaign: - A chance to win USD 10,000!
Following on from the success of the Value for Money Campaign in 2010, the management decided to launch annual themed campaigns in order to generate new ways in which we can improve various activities within our business.
The theme for this years campaign is Energy Saving. Several of Odfjell employees are addressing energy saving as part of their responsibilities and tasks (such as weather routing, speed and consumption analysis, minimizing auxiliary running hours etc). However, many of you may have already thought of other possibilities to save energy in your daily work. If you have ideas and suggestions for potential changes in daily routines, work tasks, activities, equipment or habits, we would really appreciate to hear about them.
further reduce our use of energy and in turn reduce emissions to the environment, improve our earnings, reduce costs and allow us to full our mission statement.
How to participate?
All Odfjell employees can participate in this campaign, whether you are based at sea, at the terminals or in an ofce. Please send your Energy Saving suggestions to the following email: energysaving@odfjell.com.
What happens to your suggestion?

Your ideas will be reviewed initially by the Energy Saving Evaluation Committee. The Committee will then forward suggestions to the appropriate business unit or department for further evaluation and possible implementation. Although your ideas/suggestions may be modified and further developed during this evaluation/implementation process, we will ensure that we give recognition and in some cases grant possible monetary awards based on the original email entry.
Awards
The campaign was launched on 1 September. The best proposals each month will receive awards in the range of USD 100 USD 1,000. The top prize of USD 10,000 will be awarded the best idea received during 2012. The winner will be presented during rst quarter of 2013.
Energy Saving
The winning criterion is Energy Saving. We are therefore looking for ideas that will
The Good Habit Safety Talk

By Bjrn Ydse, HSE Manager, Bergen Stay safe and be proactive!!
Safety should be an active element of everyday life when at work and at home. As an employer, Odfjell strives for and is engaged in many areas working to improve the Companys safety culture. Being part of Odfjell we can and should all contribute to this and there are many things we can do which costs little but has a good impact both on the business itself and on the image we are trying to create. Start meetings with a Safety Talk
One example which has had a positive effect and gives a lot of synergy is the idea of starting visits from external parties with a safety talk. Meetings at Odfjell locations with customers,
suppliers, colleagues from other destinations, contractors, other guests etc, should start with a safety talk. A typical example is when we rst introduce someone to a site we describe the re instruction. If a re situation should occur we tell our guests how to evacuate the building, where the emergency exits are, where the assembly area is and about available re equipment. This is a good example of improving safety culture because it is so simple. By repeating a simple message again and again, even if it is for same audience, it becomes embedded in you and forms a good habit.
Starts meetings with a Safety Talk
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BrIefInGs ODFJELL QUARTERLY MAGAZINE
Global ICT Ship Support from the Manila ofce

By Matt Duke, VP ICT, Bergen
In 2012 we have installed Always On internet connections on 24 vessels. This gives additional opportunities and possibilities for remote support and connection to corporate ICT services, applications and other technical systems on board. This will increase the need for remote ICT Support for the vessels, and it is not cost effective to build such a large support team at the headquarters. The main principle of ICT strategy for ship support is that ICT in cooperation with the service owner, Ship Management, will advise and design the ICT Infrastructure on board, and we will build a skilled, enthusiastic and service minded team in Manila to support the solution.
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By providing world class ICT support to our vessels 24/7 in a cost effective way, we have the clear goal that the crew will benet from improved service, and ultimately ICT will play a role in providing the best possible customer service to our valued customers who transport chemicals with Odfjell. It is important in hard economic times that all areas of the business do their best to keep costs down, and ICT also must do its utmost to support this business need. The Manila team is already providing a large number of support functions to our Ship Management department and it was a natural progression to increase this focus to also include ICT Support for the vessels. Therefore, the Manila organisation are skilled and experienced in the steps that are required to recruit the right staff and integrate them into the global organisation. There will be a great deal of involvement from Corporate ICT and Ship Management in this project, and we will be on site to support and train our new colleagues. The undersigned is assigned project owner, and Gunnar Eide, Surveyor Maritime ICT & Automation will be project manager. In Manila, Marlon Panisan, Head of Documentation Department, will both participate actively in the project and then take over the local management of the newly formed ICT Ship Support team. All members of the team in Manila and headquarters are positive and enthusiastic about this new opportunity for improved ICT support to our crew, and the new business possibilities and services that an Always On fleet may benefit from.
First line ICT support for all vessels will be operated from Odfjell in the Philippines
Always On status
By Gunnar Eide, Surveyer Marlink ICT & Automation, Bergen
Since October 2011 Odfjell has successfully equipped 24 vessels with internet access by installing VSAT systems from Marlink. This has been the equivalent of two installations per month. The goal is to have all managed vessels equipped with VSAT online systems within the second quarter of 2013. So far we believe that our milestones will be reached.
The upgrade is complex and a successful installation involves many people. First the vessel receives the main VSAT system containing an antenna, a below deck unit and a backup satcom system. Then the vessel receives new phones on board, wireless access points, headsets for the ofce communicator, data cables and a rewall. When all the equipment is in place, the crew on board mount the antennas, pull the antenna coax cables and t the satcom below deck units. When the equipment is fully
installed a Marlink technician will commission the systems and ICT personnel come on board to congure the wireless access points and rewall in order to connect the vessel ICT system to the new VSAT communication system. Meanwhile onshore, Marlink and the ICT department have prepared network routes and rewall accesses in order for the vessel to connect to both the internet and Odfjell ICT systems in Bergen ready for when the vessel goes online. So far the VSAT system from Marlink has performed as expected with few technical issues. Ship crew have been satised with the performance and the ICT department reports that maintaining and managing the new ship networks are as expected with less challenges than the previously tested VSAT pilot solutions.
Bow Fortune is now equipped with internet access
Odfjell Bulletin
Odfjell publishes Internal Corporate news on an intranet site named Insite.
Due to the fact that Insite is not available to every vessel for the time being, the Manilla ofce is going to prepare and distribute an Odfjell Bulletin to all vessels on a weekly basis with all the corporate news that is published the same week. The Bulletin contents will be the same as those published on the corporate intranet in the Odfjell ofces.
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brIefInGs ODFJELL QUARTERLY MAGAZINE
Odfjell Terminals (Charleston) on track, but with hidden surprises

By Mel Pinks, Terminal Manager OTC, Charleston
The third quarter of 2012 at Odfjell Terminals (Charleston) (OTC) has seen the onslaught of heavy plant equipment grading (leveling) to the northwestern side of the terminal plot to accommodate the Phase1 tanks. This charge of activity has not been as simple as pushing dirt around with a bulldozer as there have been a few (anticipated) surprises!
The predominant use of the Charleston land prior to its acquisition by Odfjell was for bulk liquid storage, such as clean and dirty petroleum products rather than chemicals. There were also a number of different owners and operators of the pre-existing terminal(s). As was seemingly the fashion thirty plus years ago, pipelines that served liquid storage facilities were largely kept underground where the rationale for such placement was as a re prevention precaution rather than an out of sight, out of mind mentality'. Grading of our plot therefore has had to cope with hidden treasures that have needed to be handled in an environmentally conscious manner and with the blessing of South Carolina Department of Health and Environmental Control.
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Grading at OTC
Constructing with the community in mind

As well as taking precautions to deal with the unknown hidden treasures, there has also been test piling carried out at the site and large steel piles have been hammered seventy ve feet into the ground. OTC and our appointed project engineering contractor, Professional Project Services, along with The Roberts Company have not only had to manage the whole operation itself, calculating at what depth the Marl (Marl or marlstone is a calcium carbonate or lime-rich mud or mudstone which contains variable amounts
of clays and silt) is reached, but they have also had to be aware of the noise pollution this operation may cause our close neighbours. A Junttan pile driving rig is being used at OTC. This rig, aside from doing its intended task safely and efciently is also friendly to the environment as this type of equipment generates less noise and reduces vibration and harmful emissions. We at OTC, took time to notify the local community leaders, businesses as well as the Police of our pile driving intentions weeks before the operation commenced. We carried out checks on noise pollution during the test operation and we are pleased to report that so far the Junttan rig has delivered on its environmental promise, causing minimal, certainly tolerable disturbance. We have complied fully with the City of North Charleston Ordinance regarding times at which Industrial/construction related noise may be generated.
On site Safety Ofcer employed

On site, the storm water pond to the extreme eastern side of the plot is now nearing completion and document wise. well the list is endless and a huge amount of man hours has been devoted to the project. On the big ticket items we have reached the 90% review mark on functions of the new dock, rail and re protection systems. Safety on site remains the number one priority for Odfjell and our EPC contractor. An on site Safety Ofcer has been appointed and all personnel at the facility are inducted in construction site safety awareness. Access to site construction areas are only granted once this training has been giving. Next quarter we will provide further updates on the OTC project and details on Charleston itself, which has to be one of the best preserved North American cities, considering the severe weather conditions it endures.
OTC is gradually taking form
By Thomas Tao, Project Manager, Singapore
Since the start of the project, Odfjell Nangang Terminals (Tianjin) (ONTT) has steadily been moving forward to reach its goal of becoming a world class facility by including Odfjell engineering, technical and operational expertise in the overall terminal design, construction and operation.
The team has made signicant progress on obtaining the many different government approvals and licenses required for this project. We have successfully obtained the licenses required for the future operation of the marine jetties. Further, we completed an EIA evaluation, an operational safety evaluation, an energy saving evaluation and an industrial hygiene evaluation for both jetty and tank farm, which are all important and required to clear the path for the construction work.
Customers interest
Concurrently with the construction progress, we have also experienced good progress on the market development within the Nangang Industrial Park. New Greeneld production facilities are being constructed and will require ONTTs logistics services. ONTTs potential customers took part in ground breaking ceremonies in July and August and we are also happy to note that negotiations with potential users of ONTTs facilities are underway and look promising. Part of the uniqueness of the ONTT project is that it intends to serve the zones on site manufacturing customers as well as other local and international customers. The fact that ONTT is progressing with visible development, has brought to realization that ONTT is on schedule and will develop as designed and planned. Combined with an active marketing
approach from the Odfjell group, ONTT will get off to a good start.
Strict focus on QHSE

ONTT is striving to reach the high QHSE targets during its present construction phase and following operation period. By the end of July, ONTT had achieved 93,638 man hours without lost time. This is a result of good QHSE focus, hard work and excellent cooperation between ONTT and its contractors. In order to monitor and support the general site safety awareness among the contractor/subcontractors, ONTT has taken a very active role to ensure compliance with the QHSE requirements. With the full scale piling, tank erection and jetty top side installation scheduled to take place, the ONTT team is motivated by the good progress and looking forward to the challenging tasks ahead.
The jetty is taking shape

Each day we are able to see the original concept of the jetty taking shape as the actual design is now reflected in the emerging structures. So far, we have completed the dike slope, the jetty front basin dredging work, as well as the construction of the access bridge for berth 1#, 2#, 3#. 302 square piles have been driven into the waterbed. The overall jetty marine structure is about 38% completed and the land area is prepared for construction. This has been done with challenge of an unusually long rainy season this year. The land is now primed and ready for foundation piling and tank erection, which are both scheduled to start in September this year.
ONTT employees together with Chairman of the Board, Laurence Odfjell
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Odfjell Nangang Terminals (Tianjin) going forward
Construction of the jetty starting to take shape
BrIefInGs ODFJELL QUARTERLY MAGAZINE
Shipping ERP on track

By Einar ye, ICT Business Process Architect, Bergen
As we learn more about the capabilities of the IMOS system, we also develop 'best practices' for each type of activity
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OK, so we have bought the best shipping software available in the market. What do we do now?
In the autumn of 2007, before the decision was made to start the Shipping ERP project, Jan A. Hammer who was head of Odfjell Tankers at the time, was very clear on one thing; Odfjell Tankers needs to use the best ICT tools available. However, if we start this initiative, we need to make sure that we use the opportunity to improve our work processes, not just replace our existing ICT tools. This clear vision meant that, during the rst year of the project, Business Process Owners (BPOs) were appointed, and we started mapping and documenting the main processes at Odfjell Tankers. The process mapping activity provided the project team with a good overview of the roles involved as well as how the processes would interact with each other. Since then, we have created To-be process diagrams to document how we see we can improve the workflows and do the work more efciently using the new stack of tools available in our chosen software platform, IMOS. Using this approach, the different roles interaction with the system is explicitly stated for each activity. From the diagrams, its easy to identify the activities which need to be supported by IMOS; hence the project can use this in order to list the required deliverables to the organisation. Most recently, the project team has been busy discussing and detailing how the different activities within chartering/operations can best be performed using IMOS. The appointed
key users have started to do test-runs to verify and sign off the activities which are adequately supported and which activities are not. Issues which need further follow-up are documented, and when solved, another test-run is performed. The remaining functionality we require to go live with IMOS will be delivered by Veson within the end of this year. Also, we are currently in the process of developing the interface to our accounts system, Agresso. The conguration and testing of IMOS will continue throughout this year and into 2013. As we learn more about the capabilities of the IMOS system, we also develop best practices for each type of activity. Hopefully, the workflow diagrams and best practice documents will give valuable guidance to new users of the system. These documents can provide additional context to the activities which can be performed in IMOS, potentially improving the quality of training as well as getting users up to speed and becoming more efcient with their daily tasks. The implementation of new ICT tools is commonly used as a catalyst to introduce changes to process and organisation of work. Inherent in process improvement initiatives lays the wish to address our inefciencies, and thus to change some of the current working habits, routines and even responsibilities. For instance, one of the objectives for the Shipping ERP project is to facilitate improved decision support at all levels in the organisation. Another objective is to provide easy access to relevant, accurate and timely information to all the participants in a process. This is crucial
in order to have efcient work processes, as well as to support decision making. It should also be highlighted at this stage that without us all taking a joint responsibility for keeping the new system regularly and correctly updated during normal working routines, it will greatly reduce the Companys ability to leverage and trust the new ICT tools for contributing to best in class service and operational efciency to our customers. Trust is something which needs to be built over time. In the context of trusting information in an ICT system this means that its crucial that all users contribute continuously in keeping the information up to date at all times. This is really one of the key success factors to achieving the objectives for this project, and it is important to realise that this is something we can all succeed in together. The IMOS system will be introduced gradually on a ship-by-ship, voyage-by-voyage basis. One challenge, is that we need to make sure that we can complete the voyages in the OTIS system, and at the same time start the planning of consecutive voyages in IMOS. Thus, in the transition phase, the old tools will be used in parallel to the new ones. According to current plans, we will deploy IMOS for the rst 4-5 vessels during second quarter of 2013. Our aim is to deploy the new Veslink on board solution simultaneously in order to facilitate an efficient and automatic flow of information between the vessels and our shore based organisation.
The project team at OTH
By Tor Jrgensen, Senior Project Manager, Bergen
One of the long term objectives of Odfjell Terminals BV is to serve Odfjell managed terminals by one common integrated software application platform supporting main business processes like terminal management (from contract/order to invoice), nance and controlling, maintenance management, purchasing and human resource management. The new software platform will be based on the SAP Business Suite portfolio.
Main business objectives to be achieved by implementing the new integrated software application platform are: increased customer service level cost reductions improve quality of work operational safety enhanced asset utilization The implementation process of the new software platform has been executed through several sub projects (TMS Terminal Management System, CMMS Computer based Maintenance Management System including purchasing, FICO Finance and Controlling and HR Human Recourse Management) supporting the various business areas. The Terminal Management System (TMS contract/order to invoice) has been in operation at Odfjell Terminals (Houston) (OTH) since September 2008 and at Odfjell Terminals (Rotterdam) (OTR) since March 2010. The Maintenance Management System (maintenance management and purchasing)
has been in operation at OTR since 2 April 2011 and will be implemented at OTH in parallel with implementation of SAP Finance. A mini version of the Human Resource Management System has been implemented at both OTR and OTH in 2012. Since the beginning of 2012 two projects have been under execution at OTH in order to implement SAP Finance/Controlling (FICO) and SAP Maintenance Management (CMMS). The projects have been staffed with key personnel from OTH, one consultant from Corporate ICT and external consultants with special SAP skills. The project teams have worked very hard and dedicated in order to have FICO and CMMS operational from the beginning of September. The SAP Finance and Controlling (FICO) solution which will support the following main nancial business processes: Business Planning and Performance Management Treasury and Financial Risk Management Operative Accounting, Controlling and Procurement Financial Accounting, Closing and Reporting will replace the current nance/accounting solution and contribute to improvements within the area of nance and accounting. The Maintenance Management solution which will be the main tool for planing and scheduling of maintenance tasks will support the following business processes:
Corrective Maintenance Preventive Maintenance Refurbishment Work Request Processing Purchasing Maintenance Budgeting The new maintenance solution will also include an integrated Reliability Based Mechanical Integrity (RBMI) program from Lloyds Register Capstone. Planning and scheduling of maintenance inspections will be based on risk evaluations generated by the RBMI tool. This will assist the maintenance department in having main focus on critical equipment at the terminal and avoid/reduce down time of the equipment. By completion of the FICO and CMMS projects OTH will be the rst terminal which have implemented the complete integrated application platform. It will contribute to safe operations, improved cost control, improved reporting within all main business areas and improved management information related to operation of the terminal. Summarized the new software platform will be an important tool for operation and management of OTH. The outstanding effort and dedication from key users of OTH is one of the main reasons for going live with the new systems on time and budget. We congratulate management and employees at OTH with the new solution.
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New software platform for Odfjell Terminal (Houston)
PortraIt ODFJELL QUARTERLY MAGAZINE
From sea to shore

Having accomplished a career spending almost 25 years at sea, in 1994, Tor K. Johansen decided to go ashore. Since then, he has had several positions within Ship Management and in 2011 he became Vice President Fleet Management - Singapore.
Following his three year period as Master of the old Bow Spring, Tor K. Johansen joined the shore based QA section, working mainly with implementation of the Safety and Quality Systems on the Odfjell vessels. He then progressed further to become the Maritime Manager in Ship Management Department for ten years before going to Singapore and becoming Fleet Manager Fleet Asia. You have had a long and interesting career both at sea and on shore, what is the major difference between the two? - There are several similarities between ship and shore based ship management, but there are also many differences. One major difference is the shorter command lines. The shipboard organisation is signicantly smaller which makes it somewhat faster to make decisions and put into effect agreed actions. This of course requires a management on board that works well together as a team, he says.
to establish a common ofce culture in such an environment. My main priority here in Singapore, both as Fleet Manager and Manager Overseas Ofces is to ensure that our activities handled by this ofce are well taken care of. In order to do so, I am of course dependent on the human resources we have here, and I need to make sure that they are well taken care of. To maintain the common ofce culture we have established in Singapore, which I also believe is an Odfjell culture, we must strive to continue to employ staff from various cultural backgrounds.
The chef
One of the advantages of going ashore must have been the possibility to have unlimited access to a kitchen: - One of my greatest hobbies is a wannabe cook! I try to use the opportunities that we have here in Singapore to broaden my horizon within the art of cooking. Apart from that I like to spend time at home enjoying a good book or just going for a walk along the River in the weekends to switch off and wind down, he ends.
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Tor K. Johansen
The teambuilder
Even though the aspects of working as a Master on board and the various positions ashore differ in many ways, there is one experience and skill in particular that is important for both areas: - Any organisation or entity needs to work together as a team in order to reach its objectives. Having the ability to build up team spirit and co-operation across lines is the key to success. To have a common understanding of our goals across the organisation, and to communicate this in an appropriate manner is something that I aim for.
International culture
Learning from his international experience he believes in building a common ofce culture: -In Singapore we may have an advantage as we are working in more of an international environment than other locations. We have a multicultural organisation which I strongly believe we benet from, as it is much easier
The Singapore River - a place for mind resting
Sea and shore
OiPs staff summer outing 2012

Odfjell in the Philippines (OiP) had the azure beaches of Olongapo City located in Zambales, Philippines, as the background of this years staff summer outing held on 12-13 May. But the story doesnt end with just the sand, the sun, and the beach...
Divided into four teams, Red, Green, Yellow, and Blue, OiP staff competed to win the Amazing Race Challenge, a test of the staffs teamwork, unity, and creativity. In the end, the Green team collected the most points and triumphed as this years best challengers.
Both new and longer term employees enjoyed the games and prepared for the outing. Competence Manager Per Morten Sakshaug said that the activity was a great way to get acquainted with his new colleagues: - It really is a great occasion to relax and to get to know your co-workers in a different setting than the normal ofce environment, he said. The Summer Outing Committee headed by Bryan Saballo said that all the arrangements and activities planned were for the sake of giving the employees a relaxing team-building activity, a needed break from the day-to-day operations at the ofce. From the feedback of the staff, the Committee had been greatly successful in this regard. OiP would like to thank the Summer Outing Committee and the Employee Board for organising the event. We would also like to commend all the teams for their participation and high spirits. Youve made this activity memorable for all who took part.
The Green Team, champion of this years summer outing Amazing Race Challenge
A gathering of Filipino seafarers families

By Jennifer M. Franco, Information Ofcer, Manila
A seafarers family life is never ordinary. To some of us on shore, the thought of being away from our loved ones for months on end might seem unbearable, but this is just one of the sacrices seafarers have to make in order to work on board. They have endured Christmases without their families, sent birthday cards hoping that the simple treat could make up for their absence, and missed out on seeing important chapters of their childrens lives. All these sacrices however become worth it when they come home to a strong and supportive family.
Since family is one of the inspirations of our mariners, Odfjell in the Philippines (OiP) has organised crew and family gatherings in four main cities in the country to relay the value of a strong household in a seafarers
successful career. Two of these gatherings were held in Cebu and Davao last June and July and two more will be arranged in Iloilo and Manila in September and November of this year. Aside from making these occasions a real family affair, these events also serve as an opportunity for OiP to share recent news about the Company and developments in the crewing operation. More importantly, such activities reinforce Odfjells caring culture not only for the safety and security of the seafarers on board, but also those of their families onshore. OiP would like to thank the crew and allottees present during the crew and family gatherings in Cebu and Davao. The enthusiasm and optimism youve shown
Activities t for the whole family were organised during the crew and family gathering
made the activity a success. To our Odfjell families in Iloilo and Manila, we hope to see you in the upcoming gatherings for your area.
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Sea and shore ODFJELL QUARTERLY MAGAZINE
2nd place Ask and Amland with the second prizes and the Closest to the Pin prize
Winner Ole Ivar Steinsland with the First Prize and the Travelling Trophy. Nils Ole Lekven was not present during the prize ceremony
3rd place Lillevik and Viste
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Odfjell Golf Tournament 2012

By Rune Ask, Manager Marine Quality Assurance, Bergen
Our annual golf tournament took place on 31 August at Fana Golf Club in Bergen. The weather had not been very encouraging leading up to the tournament but luckily the sun shone on the actual day and competitors were able to wear their short-sleeved shirts, sunglasses and suntan lotion!
This years event was played as a twelve holes round, Texas Scramble, Stableford competition. Twelve players in six teams competed for the prestigious prizes and the travelling trophy. It was a close race, with only seven points difference between the top and bottom teams. Proud winners and Odfjell Golf Champions
2012 were Nils Ole Lekven and Ole Ivar Steinsland. Second place went to Dag Kristian Amland and Rune Ask. Third place went to Christian Lillevik and Arild Viste. Fredrik Fotland won the Longest Drive on the 3rd hole. Closest to the Pin on the 6th hole was won by Dag Kristian Amland.
Odfjell Makana sponsors Emtshezi High School

By Sayed Akimu Phiri, Commercial Assistant, Durban
Odfjell Makana continues to support various local projects which aim to make a difference to the lives of disadvantaged individuals in the local community. Odfjell Makanas most recent project has been to provide a new football kit for pupils at Emtshezi High School for an up and coming football tournament.
The request for sponsorship came following a regional football tournament, where the
Emtshezi High School football team successfully defeated all the other schools in the region. Winning the tournament was a great achievement and earned them an invitation to represent the Uthukela District at a provincial level in the Kay Matsepe Cup at Richards Bay. We at Odfjell Makana wish them all the best in their forthcoming games.
The Odfjell Makana soccer kits
While at Richards Bay in August , Bow Saga performed a safty training. Here launching and maneuvering of the rescue boat. O D FJ E L L Q U A R T E R LY M A G A Z I N E
NR.03/ 12
25
SEA AND SHORE ODFJELL QUARTERLY MAGAZINE
Odfjell Champions League 2012

By Dan Foo, Ship Broker, Singapore
On 25 July Odfjell Asia hosted the annual Odfjell Futsal tournament for people in the Singapore chemical industry.
This year a record 22 teams participated in the tournament. The 14 mens teams and the 8 ladies teams comprised of charterers like Cargill, Chevron and Wilmar. Major broker shops such as Clarksons, Eastport and SPI also participated in the tournament and competed for the coveted trophy. The Tournament has been growing increasingly popular with the doubling of the ladies teams and this year Tradewinds even sent a representative down to cover the event! The level of technique and nesse is surprisingly high. Most of the ladies teams underwent weeks of training in preparation for the showdown at the tournament. Some teams even appointed coaches to improve performance!! The Odfjell team was there in force to support our players as well as to ensure that the day ran smoothly. The matches went well with good sportsmanship and encouraging cheers were heard from all supporters.
The ladies champions
26
Eventually it was the Chevron team who beat Eastport for the coveted mens champion title. The ladies champion trophy went to the jubilant Wilmar team in a close nale game with Mcquilling. The Odfjell Futsal tournament is now a regular event known in the industry in Singapore and it continues to grow in popularity. This year close to 500 people enjoyed the event!
The Odfjell Hunks Team
Odfjell has been involved in the Foskor F21 Marathon since 2009 Ingelin Jacobsen and ivind Olsen with at the prize ceremony
Foskor F21 Marathon

By Jody Morley, Ofce Administrator, Durban The A Team. Back form left: Thami Gcaba (Thembani Shipping), Jaya Chetty, Kevin Chetty and Rhett Morley (seated). Middle: Nkulu Mkhize (Thembani Shipping) and Shamlin Chetty Front: Joshua and Tylah Morley
Once again, Odfjell co-sponsored the very popular Foskor F21 Marathon which was held in Richards Bay, KwaZulu Natal, South Africa on Saturday, 24 August 2012. This annual competition is organised by Foskor, and the Zululand Multi Sport Club, and Odfjell has been involved with this event since 2009.
The event was very well supported and this year many of the staff from Odfjell Makana SA (Pty) Ltd, Durban, participated in the 10 km walk and running races.
The awardees with their wives. The awardees from left: Salvador S. Abubo, Chief Steward, Dennis A. Casino, Second Cook, Isidro V. Cruz, Chief Steward, Socrates M. Daymiel, Captain, Ferdinand M. Echano, Chief Engineer, Jovito C. Escanilla, Chief Steward, Dante A. Mangampat, Chief Engineer, Nelson D. Onda, Able Seaman, Renato T. Solidum, Chief Ofcer, Leopoldo M. Villanueva, Chief Steward and Raymundo V. Manual, Electrician
Tribute to 12 Odfjell pioneers

On 29 August, Odfjell awarded 12 Filipino Odfjell seafarers for their 25 years of loyal service. The long-serving mariners were honoured at the dinner and awards ceremony attended by Odfjell dignitaries from all over the world, shore staff of Odfjell in the Philippines and the awardees families.
Executive Chairman of the Board Laurence Odfjell, Senior Vice President of Ship Management Division Helge Olsen and
Owners Representative of Odfjell in the Philippines Tore Henriksen conferred the certicates and token of appreciation to the awardees. The wives, the heroes behind the success of the awardees, were also honored with flowers and commendations during the ceremony. Agnes Enesio, Head of Crew & Family Affairs, spoke on behalf of Odfjell to thank the wives for their support to the seafarers 25-year career with the Company.
Delivering an acceptance speech on behalf of the awardees was Captain Socrates Daymiel. His speech conveyed a message of gratitude to everyone who has been instrumental to the pioneers commendable career on board: - Tonight, being one of the recipients of this 25 year service award is a memorable moment in my life. I am very, very happy that Odfjell recognises my small but valuable contribution. Congratulations to our Odfjell pioneers!
Service awards Norwegian Ofcers

During the yearly Ofcers Conference in Bergen, Odfjell honoured ve of our most loyal Norwegian Ofcers. The ofcers were rewarded with the Norwegian Ship owners Association Gold medal for 30 years in service. The event took place during the ofcial dinner 20 September at Quality Hotell Edvard Grieg with approximately 150 guests present. The gold medals were handed over by our Chairman Laurence W. Odfjell. Norwegian Ship Owners Association Gold medal for 30 years of service: Captain Tor Gisle Bjerknes Pumpman Ove Slagstad Chief Engineer Otto nneland Vice President Risk Management Bernhard Stien Electrician Magne Ivar Maurseth
Back from left: SVP Ship Management Helge Olsen, Chief Engineer Otto nneland, Captain Tor Gisle Bjerknes and President/CEO Jan Hammer. Front from left: Pumpman Ove Slagstad, Chairman Laurence Odfjell, Vice President Risk Management Bernhard Stien and Electrician Magne Maurseth
NR.03/ 12
27
Personnel ODFJELL QUARTERLY MAGAZINE
NEW HIRES
BerGen
Bracke, Stefan Ship Operator 01.06.12
Breimo, Ole Eivind Senior Marine Superintendent 01.07.12
Ellingsgaard, Hjalgrim Senior Surveyor 13.08.12
Gosiewska, Monika Application Support Consultant 06.08.12
Kalvik, Svein Johan Marine Superintendent 01.07.12
Klokkeide, Mads Otto Lid Ship Operator 01.06.12
houston
degrd, Jan Ove Marine Manager 23.07.12
Aarsther, Hilde Accountant Accounts Payable 01.07.12
Jger, Per Christian Senior Ship Broker 01.09.12
Harmon, Neferti Moura Senior Project Manager 25.06.12
Cates, Douglas Sales Representative 20.08.2012
Rotterdam
28
Andeweg, Arie Pieter 2e Operator 01.06.12 Boerhof, Michiel Antonius Johannes Stock Coordinator 01.06.12 Van Eck, Daan Process Engineer 16.07.12 Hooplot, Miquel Jos Klerks, Jarno Assistant Controller/ Supervisor E&I&A Business Analyst 01.08.12 01.07.12 Kuijper, Mitchell Johannes Huibert D-Operator 01.08.12
Lugtenburg, Justin D-Operator 16.07.12
Ozdemir, Mustafa D-Operator 01.07.12
Van der Ree, Alex Pieter Stock Coordinator 16.06.12
Wagemaker, Pieter Bastiaan Maintenance Engineer 01.07.12
Zandboer, Marcel D-Operator 01.08.12
Zwam, Joeri Benjamin Yannick van D-Operator 01.08.12
MANILA
Buenafe, Michele PMS Support 11.06.12
Sharma, Hyacinth Rajcel Course Developer 18.07.12
Sao Paulo
SInGapore
In ServIce for Odfjell
25
Henrique da Silva Miranda, Diego Accounting Auxiliary 06.07.12 Han, Wei Operation Assistant 21.05.12
years
Otterspeer, Robert B-Operator 15.09.87
30
Nss, Olav Henning Tradelane Manager 17.08.87 Kool, W outer Franciscus Field Engineering 01.09.82 Kruiniger, Arie Lourens Operational SAP Specialist 01.09.82 Van den Bovenkamp, Wouter Field Techinician WTB 01.09.82 Maasoe, Petter Commercial Manager 16.06.82
years
RELOCATIONS
From Shanghai to Dubai From Sea to Bergen
35 40
years
Dudok, Peter Andrew C-Operator 21.09.77 Lundetr, Liv Accountant, Accounts Payable 22.08.77 Knutsen, Atle SVP/Special Advisor 12.06.72 Abrahamsen, Ole Jakob Senior Technical Superintendent 25.09.72
years
Iversen, Irgen Roar VP Special Projects 01.05.12
Mvik, yvind Cargo Handling Advisor/Supercargo 27.06.12
NR.03/ 12
29
FLEET & TERMINALS ODFJELL QUARTERLY MAGAZINE as per 26 September 2012

CHEMICAL TANKERS OWNED YEAR SHIP BUILT DWT CBM STAINLESS STEEL, CBM NUMBER OF TANKS

TIme Chartered SHIP YEAR BUILT DWT CBM STAINLESS NUMBER STEEL, CBM OF TANKS
30
Bow Fuling Bow Lind Bow Elm Flumar Brasil Bow Saga Bow Sirius Bow Sea Flumar Maceio Bow Summer Bow Spring Bow Star Bow Sun Bow Firda Bow Chain Bow Andes Bow Fortune Bow Master Bow Mate Bow Pilot Bow Sailor Bow Cecil Bow Flora Bow Balearia Bow Oceanic Bow Bracaria Bow Brasilia Bow Cardinal Bow Faith Bow Aratu Bow Querida Bow Cedar Bow Atlantic Bow Fagus Bow Clipper Bow Flower Bow Eagle Bow Cheetah Bow Leopard Bow Lion Bow Fraternity Bow Victor
2012 2011 2011 2010 2007 2006 2006 2006 2005 2004 2004 2003 2003 2002 2000 1999 1999 1999 1999 1999 1998 1998 1998 1997 1997 1997 1997 1997 1997 1996 1996 1995 1995 1995 1994 1988 1988 1988 1988 1987 1986
9 156 46 047 46 098 51 188 40 085 49 539 49 511 19 975 49 592 39 942 39 832 39 842 37 427 37 518 16 020 37 395 6 046 6 001 6 008 6 008 37 369 37 369 5 846 17 460 5 846 5 800 37 446 37 479 13 843 10 106 37 455 17 460 37 375 37 221 37 221 24 728 40 257 39 512 39 423 45 507 33 000
10 523 48 698 48 698 55 452 52 126 52 155 52 107 21 713 52 128 52 127 52 127 52 127 40 645 40 621 17 120 40 619 7 018 7 004 7 005 7 011 40 515 40 515 6 075 19 616 6 071 6 067 41 487 41 487 15 834 11 181 41 488 19 588 41 608 41 596 41 492 32 347 43 811 43 772 43 726 52 180 34 500
10 523 - - - 52 126 52 155 52 107 21 713 52 128 52 127 52 127 52 127 40 645 40 621 17 120 40 619 7 018 7 004 7 005 7 011 33 236 33 236 6 075 19 616 6 071 6 067 34 208 34 208 15 834 11 181 41 488 19 588 34 329 34 328 34 213 19 662 - - - 2 167 21 975
14 29 29 14 40 40 40 22 40 40 40 40 47 47 22 47 14 14 14 14 47 47 20 24 20 20 52 52 29 18 52 24 52 52 52 25 29 29 29 23 31
UACC Masa NCC Najem NCC Shams SG Pegasus NCC Danah NCC Nasma NCC Safa NCC Amal NCC Huda NCC Noor Stream Luna Bow Tone Bow Hector Southern Ibis Southern Jaguar Stream Mia Bow Sagami Bow Harmony Bow Cape Bow Kiso Bow Heron NCC Haiel NCC Dammam NCC Sudair Bow Lima Bow Fuji Bow Plata Bow Engineer Crystal Topaz Crystal Diamond Bow Sky Bow Architect Bow Rio Bow Santos Bow Asia Bow Singapore Bow Americas Bow de Rich Bow de Feng Bow Andino Crystal Amaranto Crystal Skye Bow Jubail Bow Mekka Bow Riyad Crystal Amethyst Crystal Emerald Crystal Pearl Bow Baha JBU Sapphire JBO Opal JBU Onyx
COMMERCIAL MANAGEMENT
2 012 2012 2012 2011 2011 2011 2011 2011 2011 2011 2010 2009 2009 2009 2009 2008 2008 2008 2008 2008 2008 2008 2008 2007 2007 2006 2006 2006 2006 2006 2005 2005 2005 2004 2004 2004 2004 2003 2002 2000 1999 1998 1996 1995 1995 1994 1994 1994 1988 2009 2009 2008
45 352 45 499 45 468 13 086 45 578 45 550 45 544 45 544 45 459 45 565 19 998 33 625 33 694 19 905 19 997 19 702 33 641 33 619 19 975 33 641 33 707 45 953 45 965 46 012 19 971 19 805 19 807 30 086 11 340 11 340 40 005 30 058 19 999 19 997 9 901 9 888 19 707 12 452 12 514 16 121 9 887 9 554 37 499 37 272 37 221 8 104 8 143 8 143 24 728 19 860 19 865 19 865
52 565 52 590 52 590 14 523 52 590 52 590 52 590 52 590 52 590 52 590 22 161 37 974 37 384 22 158 22 157 22 094 38 000 38 052 22 158 37 974 37 365 54 401 54 401 54 401 22 157 22 140 22 143 36 274 11 870 11 870 52 126 36 290 21 851 21 846 11 088 11 089 22 735 13 571 13 571 17 622 10 893 10 442 41 488 41 606 41 492 9 346 9 346 9 346 32 363 22 144 30 301 21 712
- - - 14 523 - - - - - - 22 161 37 974 37 384 22 158 22 157 22 094 38 000 38 052 22 158 37 974 37 365 - - - 22 157 22 140 22 143 36 274 11 870 11 870 52 126 36 290 21 851 21 846 11 088 11 089 22 735 13 571 13 571 17 622 10 893 10 442 34 209 34 257 34 213 9 346 9 346 9 346 19 662 22 144 30 301 21 712
22 22 22 16 22 22 22 22 22 22 20 16 16 20 20 26 16 16 20 16 16 22 22 22 20 22 22 28 20 20 40 28 22 22 20 20 36 22 22 30 24 24 52 52 52 17 17 17 25 16 16 16
YEAR BUILT DWT CBM
STAINLESS NUMBER STEEL, CBM OF TANKS
Northern Wolverine 2006 Northern Lynx 2003 Crystal Atlantica 2000 Number of ships:
16 000 18 397 16 533 18 397 16 630 17 350
10 056 10 056 17 350
35 35 22
95 2 676 171 3 042 815 1 944 714
Vessel benecially owned through nancial lease. Vessel on bare-boat charter. Vessel on variable time charter/pool.
GAS CARRIERS OWNED SHIP
YEAR BUILT DWT CBM TYPE
NUMBER OF TANKS
Bow Gallant Bow Guardian Number of ships:

ON ORDER YARD
2 008 2 008 2
DELIVERY
10 282 10 282 20 564

DWT
8 922 LPG/Ethylene LPG/Ethylene 8 922 17 844

OWNER
2 2
ShinaSB (ex. SLS Shipbuilding) 2012 45 000 NCC 2 vessels Chongqing Chuandong Shipbuilding Industry Co.Ltd 2012 9 000 Odfjell " 2012 9 000 Odfjell Daewoo Shipbuilding and Marine Engineering Co Ltd 2013 75 000 Odfjell " 2013 75 000 NCC Hyundai Mipo Dockyard., Ltd 2014 46 000 Odfjell " 2014 46 000 Odfjell " 2014 46 000 Odfjell " 2014 46 000 Odfjell Number of newbuildings: 10 487 000
TANK TERMINALS OWNED LOCATION SHARE CBM STAINLESS STEEL, CBM NUMBER OF TANKS
Odfjell Terminals (Rotterdam) BV Odfjell Terminals (Houston) Inc Odfjell Terminals (Jiangyin) Co Ltd Odfjell Terminals (Dalian) Ltd Odfjell Terminals (Korea) Co Ltd Oiltanking Odfjell Terminal Singapore Ltd Oiltanking Odfjell Terminal & Co. LLC Noord Natie Odfjell Terminals Exir Chemical Terminals PJSCO Vopak Terminal Ningbo Ltd Total owned terminals
Rotterdam, NL 51 % Houston, USA 51 % Jiangyin, China 55 % Dalian, China 50 % Onsan, Korea 50 % Singapore 50 % Sohar, Oman 29.75 % Antwerp, Belgium 12.5% BIK, Iran 35 % Ningbo, China 12.5% 10 terminals
1 636 100 331 329 99 800 119 750 313 710 365 000 1 294 800 297 000 22 000 71 050 4 550 539
32 550 82 033 30 000 18 350 15 860 13 520 - 50 800 1 000 8 000 252 113
STAINLESS STEEL Cbm
281 100 22 51 85 79 250 18 39 925

ESTIMATED COMPLETION
PROJECTS AND EXPANSIONS OWNED LOCATION SHARE Cbm
Odfjell Terminals (Charleston) LLC Odfjell Nangang Terminals (Tianjin) Co.,Ltd Total expansion owned terminals
Charleston, USA Tianjin, China
51 % 49 %
79 491 145 000 224 491
- ready Q2 2013 7 000 ready Q4 2013 7 000

STAINLESS number STEEL Cbm of tanKs
2 new terminals
TANK TERMINALS Partly OWNED BY RELATED PARTIES*) LOCATION Cbm
Depositos Quimicos Mineros S.A. Granel Quimica Ltda Granel Quimica Ltda Granel Quimica Ltda Granel Quimica Ltda Granel Quimica Ltda Granel Quimica Ltda Odfjell Terminals Tagsa S.A. Odfjell Terminals Tagsa S.A. Terquim S.A. Terquim S.A. IMTT-Quebec
Callao, Peru Santos I, Brazil Rio Grande, Brazil Sao Luis, Brazil Ladario, Brazil Triunfo, Brazil Teresina, Brazil Buenos Aires, Argentina Campana, Argentina San Antonio, Chile Mejillones, Chile Quebec, Canada
52 980 97 720 61 150 75 710 8 060 12 030 7 640 38 826 62 980 32 840 16 870 293 130 759 936

1 600 19 880 2 900 - - - - 530 10 190 - - 5 500 40 600
43 99 32 35 6 2 6 56 88 25 7 53 452
COMPLETION
Total related parties partly owned terminals

PROJECTS AND EXPANSIONS partly OWNED BY RELATED PARTIES*) LOCATION
Cbm
Granel Quimica Ltda Granel Quimica Ltda Terquim S.A. Granel Quimica Ltda Total expansion terminals partly owned by related parties Grand total (incl. related tank terminals partly owned by related parties)
*) Tank terminals and projects partly owned by Odfjell family.
Aracruz, Brazil Santos II, Brazil Mejillones, Chile Palmas, Brazil 3 new terminals 22 terminals
30 000 52 000 50 000 10 000 142 000 5 310 475
- - - - - 292 713
ready Q3 2014 ready Q4 2013 ready Q3 2013 ready Q2 2014
NR.03/ 12
31
MAIN OFFICE ODFJELL

Odfjell SE - Odfjell Tankers AS Conrad Mohrsv. 29, P.O. Box 6101 Postterminalen 5892 Bergen, NORWAY Tel: +47 5527 0000 Fax: +47 5528 4741 Fax: +47 5527 9070 (Chartering/Operations)
MAIN OFFICE TERMINALS

Odfjell Terminals BV Oude Maasweg 6, P.O. Box 5010 Harbour Number 4040 3197 KJ Rotterdam-Botlek The NETHERLANDS Tel: +31 102 954 700 Fax: +31 102 954 719
INTERNATIONAL OFFICES
Odfjell USA (Houston) Inc. 12211 Port Road Seabrook, TX 77586, USA Tel: +1 713 844 2200 Fax: +1 713 844 2211 Odfjell Singapore Pte Ltd 6 Shenton Way, # 27-08/09 DBS Tower 2 SINGAPORE 068809 Tel: +65 6349 1300 Fax: +65 6224 2285 Odfjell Japan Ltd Ogawa Bldg. 8F 2-2 Uchikanda 1-Chome Chiyoda-ku, Tokyo 101-0047, JAPAN Tel: +81 3 3259 8555 Fax: +81 3 3259 8558 Odfjell Netherlands BV Oude Maasweg 6, P.O. Box 5010 3197 XC Rotterdam-Botlek The NETHERLANDS Tel: +31 102 953 666 Fax: +31 102 953 668 Odfjell Brasil Ltda Av. Paulista 460 - 18 andar CEP 01310-000 Sao Paulo SP, BRAZIL Tel: +55 11 3549 5800 Fax: +55 11 3549 5808 Odfjell Shanghai Suite B, 13F Huamin Empire Plaza 728 Yan An West Road Changning District Shanghai 200050, P.R. CHINA Tel: +86 21 5239 9469 Fax: +86 21 5239 9897 Odfjell Argentina SA Alicia Moreau de Justo 1960 Ofce no. 202 - Puerto Madero 1107 Buenos Aires, ARGENTINA Tel: +54 114 313 7837 Fax: +54 114 313 4619 Odfjell Australia Pty Limited Suite 4, Level 1 443 Little Collins Street P.O.Box 1279 Melbourne VIC 3001 AUSTRALIA Tel: +61 3 9642 2210 Fax: +61 3 9642 2214 Odfjell India A-26, Nandbhuvan Industrial Estate Mahakali Caves Road, Andheri (East) Mumbai 400093, INDIA Tel: +91 22 6695 4701 Fax: +91 22 6695 4707 Odfjell Durban (Pty) Ltd 61 Bulwer Road, Glenwood P.O.Box 4045 Durban 4021, SOUTH AFRICA Tel.: +27 31 2770880 Fax: +27 31 2770899 Odfjell Tankers AS, Korea Branch Room 1815 Gwanghwamum Ofcia Bldg. 163 1-ga Shinmunno Jongn-gu, Seoul, 110-999 Korea Tel: +82 2 775 9760 Fax: +82 2 775 9761 Odfjell Korea Ltd. 136, Cheoyong-Ri, Onsan-Eup, Ulju-Gun Ulsan, KOREA 689-892 Tel: +82 52 227 5527 Fax: +82 52 227 5567 Odfjell Chile LTDA Rosario Norte 100, Ofce 304 Las Condes Santiago ChILE Tel: +56 2 3307221 Fax: +56 2 3307948 Odfjell Philippines Inc. 4th Flr Atlantis Beacon Tower 2315 Leon Guinto St. Malate, Manila 1004 PHILIPPINES Tel: +6325280341 Fax: +6325262256 Odfjell (UK) Ltd 14 Headfort Place London SW1X 7DH UNITED KINGDOM Tel: +44 207 823 0605 Fax: +44 207 823 0606 Odfjell Peru Av. Enrique Meiggs, 240 Urb. Chacaritas, Callao, PERU Tel: +51 1 614 0800 Fax: +51 1 614 0801 NCC Odfjell Chemical Tankers JLT Room 3101-3104, Liwa Heights Jumeirah Lake Towers P.O.Box 214459 Dubai, UNITED ARAB EMIRATES Tel: +971 4 440 1700 Fax: +971 4 441 1701
REGIONAL OFFICES
Odfjell Asia Pte Ltd 6 Shenton Way, # 27-08/09 DBS Tower 2 SINGAPORE 068809 Tel: +65 6349 1300 Fax: +65 6224 2285 Flumar Transportes de Quimicos e Gases Ltda Av. Paulista 460 - 18 andar CEP 01310-000 Sao Paulo SP, BRAZIL Tel: +55 11 3549 5800 Fax: +55 11 3549 5807 Odfjell Tankers Europe AS Conrad Mohrs veg 29 P.O.Box 6101 Postterminalen 5892 Bergen, NORWAY Tel: +47 5527 0000 Fax: +47 5527 9070
TERMINALS
Odfjell Terminals (Rotterdam) BV Oude Maasweg 6, P.O. Box 5010 Harbour Number 4040 3197 KJ Rotterdam-Botlek The NETHERLANDS Tel: +31 102 953 400 Fax: +31 104 384 679 Odfjell Terminals (Houston) Inc. 12211 Port Road Seabrook, TX 77586, USA Tel: +1 713 844 2300 Fax: +1 713 844 2355 Odfjell Terminals (Charleston) LLC 1003 East Montague P.O.Box 62589 North Charleston South Carolina 29405, USA Odfjell Terminals (Dalian) Ltd New Port Economy & Technology Development Zone 116601, Dalian P.R. CHINA Tel: +86 411 8759 5500 Fax: +86 411 8759 5549 Odfjell Terminals (Jiangyin) Co., Ltd 1314 West Binjiang Road Shizhuang New Harbour City, Jiangyin Jiangsu 214446 P.R. CHINA Tel: +86 510 8666 9111 Fax: +86 510 8666 9110 Odfjell Terminals (Korea) Co., Ltd 136, Cheoyong-Ri Onsan-Eup, Ulju-Gun Ulsan, KOREA 689-892 Tel: +82 522 311 600 Fax: +82 522 376 636 Odfjell Nangang Terminals (Tianjin) Co., Ltd Room D310, Section D Ofce Building, Servicing Area, TEDA (Nan-Gang Industrial Zone) Tianjin 300280, PR CHINA Oiltanking Odfjell Terminal Singapore Pte Ltd 1 Seraya Avenue SINGAPORE 628208 Tel: +65 6473 1700 Fax: +65 6479 4500 Oiltanking Odfjell Terminals & Co. Llc. P.O. Box 369 PC., 322 Fajal Al Qubail Sohar, SULTANATE OF OMAN Tel: +968 2670 0300 Fax: +968 2670 0306 Noord Natie Odfjell Terminals NV Haven 227-241 Blauwe Weg 44 2030 Antwerp - Belgium Tel: +32 (0)3 543 99 00 Fax: +32 (0)3 543 99 38 Vopak Terminal Ningbo Ltd. No. 111 Zhaobaoshan Road, Zhenhai District Ningbo, P.R. CHINA Tel: +86 574 2769 5638 Fax: +86 574 8627 5931
TANK TERMINALS PARTLY OWNED BY RELATED PARTIES

Granel Quimica Ltda Av. Paulista 460, 18 andar CEP 01310- 000 So Paulo, SP BRAZIL Tel: +55 11 3549 5800 Fax: +55 11 3549 5832 Tagsa S.A Av. Alicia Moreau de Justo 1960, piso 4 Of. 402 1107 Buenos Aires ARGENTINA Tel: +54 11 4001 9700 Fax: +54 11 4001 9701 Terquim S.A Blanco Encalada 840 Dept 702, San Antonio CHILE Tel: +56 35 21 1050 Fax: +56 35 21 1161 DQM S.A Av.Enrique Meiggs, 240 Urb.Chacaritas, Callao, PERU Tel: +51 1 614 0800 Fax: +51 1 614 0801

OQ October2012

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ODFJELL

Texts submitted to Quarterly may be subject to editorial adjustments.

Jan A. Hammer, President/CEO Odfjell SE

ODFJELL QUARTERLY MAGAZINE

Odfjell re-enters the gas market

LPG in daily life

Favourable LPG market

The layout of Bow Gallant

Semi-pressurized and Semi-refrigerated vessels (S/R)

Fully refrigerated vessels (FR)

Fully pressurized vessels (F/P)

LPG/Ethylene eet and competition

hIGhlIGhts ODFJELL QUARTERLY MAGAZINE

The petchem market

Shale gas and Ethanol

Experienced gas carrier crew

Training and Company familiarisation

The Odfjell Gas unit

Various possibilities for expansion

Why chose a new player

The Gas unIt

ODFJELL QUARTERLY MAGAZINE

Odfjell Gas in the 80s

Old Bow Elm (on top) and Hardanger

ODFJELL QUARTERLY MAGAZINE

Odfjell orders four newbuildings with options

The Hyundai Mipo Dockyard (HMD) in Ulsan, Korea

The main dimensions and particulars of the vessels shall be:

Continued weak results

ODFJELL QUARTERLY MAGAZINE

Odfjell issues new bond programme

Tom A. Haugen, VP Finance, Odfjell SE

New Document Management System Project

ODFJELL QUARTERLY MAGAZINE

Safety shutdown at Odfjell Terminals (Rotterdam): Leaving nothing to chance

Comprehensive modernisation plan

Sympathy for customers

OTR is testing the reghting system

Demolition of nine tanks in tankpit 9A

QHSE ODFJELL QUARTERLY MAGAZINE

Safety culture towards su

Toralf Srenes, SVP QHSE discussing corporate QHSE

Proactive safety message: The Bow Tie Model

Putting the safety message out

Leadership development to drive cultural change

The status of Odfjells safety culture according to the Ofcers

The road to sustainable safety performance

QHSE ODFJELL QUARTERLY MAGAZINE

The Bow Tie Model

What happens to your suggestion?

The Good Habit Safety Talk

Starts meetings with a Safety Talk

BrIefInGs ODFJELL QUARTERLY MAGAZINE

Global ICT Ship Support from the Manila ofce

brIefInGs ODFJELL QUARTERLY MAGAZINE

Odfjell Terminals (Charleston) on track, but with hidden surprises

Constructing with the community in mind

On site Safety Ofcer employed

OTC is gradually taking form

By Thomas Tao, Project Manager, Singapore

Strict focus on QHSE

The jetty is taking shape