odfjell quarterly magazine march 2016

ODFJELL

MARCH 2016

www.odfjell.com

Odfjell Quarterly

EDITOR: Margrethe Gudbrandsen

EDITORIAL COMMITTEE:Karin Ryland Blom, Matt Duke, Geirmund Drivenes, Leif Gunnar Alvær, Siri-Anne Mjåtvedt, Ann Kristin Møllerup

CORRESPONDENTS:PHILIPPINES: Shiela Virtusio

Deadline next issue:10 October 2016

Design: Bruno Blanchard, Cox Graphic production: Sigve Solberg, CoxPrint: Scanner Grafisk AS

Front cover: Bow Cardinal launched with upgraded propulsion system. © Thomas Kohnle

Photo this page: Bow Cardinal transiting the Suez Canal.© Thomas Kohnle

CONTENTS

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

Highlights04 A more efficient Odfjel06 Singapore major hub for Ship Management

Landmarks07 Odfjell SE 4Q 2015 results08 Amver Awards for Odfjell vessels09 New Director of the Board

QHSE10 Global Safety Day 201512 Safety stand-down at Odfjell Terminals14 Carbon Disclosure Project 201515 Everybody's business

PORTRAIT16 Delegation, responsibility and ownership

Briefings18 Ship of the year 20 Going paperless22 Odfjell Terminals (Changxing)24 Officers Conference in Bergen

Sea and shore25 Making the most out of our resources26 A trainee´s journal27 Vacation extraordinaire 28 Bow Cardinal in the spotlight

Personnel30 Award of prestigious Norwegian medal

33 New hires34 Fleet & terminals

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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2015 is now behind us, and when we look back I think we will remember the year for Project Felix.

When Project Felix was launched Odfjell was in a totally different shape than we are today. We had a significant cost problem; we did not understand our profitability well; we were losing market share; we had many inefficiencies in how we were organised and in our processes, and the last time we made a profit was back in third quarter 2008. The reality is; Project Felix was a necessity!

We needed a strong medicine. It has been hard work and many difficult and unpleasant deci-sions have been made. But our achievements are extraordinary. We have during 2015 achieved annual savings of more than USD 100 million and the effect has been implemented faster than expected. At the same time our safety statistics and performance have improved, and sick leave ashore has gone down. Our costs are now at a much more competitive level, and we are at a point where we can slowly begin to look at investing in our business again.

Project Felix is in every respect a success, and it is a result of an extraordinary team effort! In many ways the project has transformed Odfjell. I also experience a new way of thinking within the organisation. In this issue of Quarterly, you can read more about the main organisational changes following Project Felix.

We are now closing Project Felix, but the spirit of Felix stays with us. Now we need to increase our competitiveness by building strengths and increasing our profitability. We will in 2016 put

forward initiatives to improve our cash and balance sheet so that we can begin to invest in our business again. In particular we have focus on our operational improvements and quality of service, and a project called Project Moneyball is in place to get a top line optimisation. Project Moneyball will in many ways be 2016’s Project Felix, focusing on increasing our profitability even further.

Even though the market outlook is somewhat uncertain, we believe that we are now much more on a competitive level going forward in 2016. We will benefit from lower bunker prices as loss-making bunker hedges have matured, and our contract nominations are generally healthy. Also, there are positive signs from our terminal in Rotterdam with a strong distillation activity in 2016.

So all in all, we have made a lot of progress and we should be proud of the achievements, but the journey continues – we have a lot of work ahead of us to ensure that Odfjell becomes the world´s best integrated chemical tanker company!

Dear Colleagues,Kristian Mørch, CEO

08 16 18 25

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

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HIGHLIGHTS ODFJELL QUARTERLY MAGAZINE

It is now almost two years since Project Felix was initiated. Since then more than 400 change initia-tives have been implemented, and our target to improve the net result by in excess of USD 100 million on a yearly basis was successfully reached in December 2015. The project has as such come to an end, but the remaining initiatives will be fol-lowed up and completed by line management and through the ongoing performance improve-ment project. In addition to the positive financial result, Project Felix brought along three impor-tant organisational changes: headcount reduction in Bergen, establishment of a shared service centre in Manila and Singapore becoming the major hub for Ship Management.

The Manila ICT team consists of dedicated consultants providing Odfjell with ICT support 24/7/365. From left: Alfred Duquiatan, Mark John De Guzman, Ray Castillo, Mherbert Cruz, Mikhail Joseph Salviejo, Ace Gonzalo and Paul Jun Timtiman (Teamleader ICT Support Manila)

Ceasing Project Felix:

- A more efficient Od fjellBy Harald Fotland, SVP Odfjell Tankers, Bergen

The Manila ICT Support team was established in 2013. The team consists of six dedicated consultants with an ICT Team Leader, provid-ing Odfjell with ICT support 24/7/365.

The main tasks of the team are split into three distinct categories: 1) To provide first level helpdesk assistance to our crew and shore based employees.2) To perform upgrades, maintenance and software deployments remotely towards the vessels.3) To visit the vessels when the ICT Support job cannot be performed remotely, for example, upgrading the equipment during dry docking.

Support always availableThe biggest change for Odfjell employees is that standard first line support via phone is now available at any time of the day. Previously standard support was only avail-able during office hours, and an ‘on call’ duty was required to cover urgent support matters.

The Odfjell ICT solutions at land and sea are critical for our business to operate, and our business is truly global, with vessels and offices in every time zone. It is clear then that we must also ensure that we deliver the required ICT support 24 hours a day.

ICT Service Centre in Manila: - Always onBy Matt Duke, VP Corporate ICT, Bergen


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Significant savings and a much more agile serviceBy building our own team in Manila we have achieved this in an efficient manner. We have also allowed our ICT experts in Norway to focus more on how to improve our solutions and interaction with the business. Once a new applica-tion, tool or upgrade is tested and ready, we can utilise our investments in ‘always on’ satellite communications with our people in Manila in order to get the job done far more effectively than before. As an example, a fleet-wide update of software would previously require many months of work and onsite visits. Today we can get the same job done within 48 hours, without needing to send anyone on board.

Through our technology choices and development of the team in Manila, we have dramatically lowered the timeframe to implement innovation or critical updates on board. Simultaneously we are reducing our carbon footprint for travel and costs. Digitalisation of our business is happening at a dramatic pace, and it is extremely satisfying that we have built the capacity to implement technology change on board in a fast, effective and professional manner.

Ceasing Project Felix:

- A more efficient Od fjellBy Harald Fotland, SVP Odfjell Tankers, Bergen

Legal and Insurance Section (LIS)The Insurance and Legal Section (INS) formerly located only in Bergen has been reorganised and renamed: the Legal and Insurance Section (LIS). This is a corporate function for all business areas and is located at the Odfjell offices in Bergen and Manila.

LIS’ main tasks are to provide legal support to the organisation, arrange insurance cov-ers, P&I (Protection & Indemnity) claims handling, arranging for insurance and financial certificates as well as knowledge sharing through in-house seminars.

• All P&I claims relating to Odfjell owned vessels (excluding crew claims that are handled by Ship Management’s Maritime Personnel Section in Manila) are handled by the team at the Manila office, which currently employs two lawyers and one coordinator. The LIS team coordinator in Manila has the main responsibility for insurance and financial certificates.• The LIS team in Bergen provides advice to the Odfjell organisation on all legal matters upon request, and negotiates/places marine insurance covers. They will also assist as necessary in large/complex claims. The team currently employs two lawyers.• H&M (Hull & Machinery) claims are now handled by Ship Management.

Quality, Health, Safety and Environment (QHSE)Since June 2015 Corporate QHSE in Bergen has been supported by a Coordinator Corporate QHSE situated in the Manila Document Centre. The main respon-sibilities are to update procedures and documents of corporate staff units in the corporate document management system

and to administrate (QHSE related) the document management system for cor-porate governing documents (Docmap). The Docmap support e-mail is now handled by this function. In addition the function coordinates corporate audit follow-up and supports general QHSE training programmes. The Senior Advisor Corporate QHSE is situated in Bergen and is focusing on important projects like risk assessment review of all business and staff units and further developments e.g. in QHSE reporting, evaluation of QHSE systems and processes and Odfjell’s CSR engagement.

Fleet Performance and Bunkering departmentOdfjell’s Fleet Performance & Bunkering department (FP&B) is responsible for fuel purchases and monitoring of how the fuel is consumed. The department arranges hull cleaning operations, tracks fleet movements, supervises weather routing and collects, validates and analyses data concerning speed, consumption, energy efficiency and emissions of the vessels on a daily basis through a comprehensive performance system. The department has different positions located in Bergen and Manila. The Manila operation was established pre Project Felix, but was escalated due to the project.

The main changes for the Fleet Perfor-mance and Bunkering department:• First-line handling of AoL (Abstract of Log) reports moved to Manila.• Dashboard technology implemented enabling Fleet Performance Analysts to efficiently handle the alerts as well as to give FP&B at headquarters necessary control of the FPAs and the vessels progression, trend analysis, etc. • Back-office functions and reports preparations moved to Manila.

These organisational changes are evi-dently cost-savings, but they are also a more efficient utilisation of the resource enabling more work to be handled by the department.

Odfjell’s Fleet Performance & Bunkering department is responsible for fuel purchases and monitoring of how the fuel is consumed

Shared service centreLate 2015, it was approved by Odfjell to establish a shared service centre in Manila encompassing ICT Helpdesk, Corporate QHSE support, P&I claims handling and Legal and insurance support, Fleet Performance back office as well as Planned Maintenance, Document and vessel certificate handling and an audit team. Eventual future offshoring of tasks will as such be made through requests for deliveries rather than requests for personnel, enabling the shared service centre to establish the need, if any, for additional resources and/or competence.


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HIGHLIGHTS ODFJELL QUARTERLY MAGAZINE

Offshore Accounting Services in ManilaBy Lars Morten Bjørneberg, VP Financial Control & Accounts, Bergen

As part of Project Felix, Odfjell Group centralised the invoice handling process in Manila. This change took place with effect from 1 June 2015. All invoices from suppliers previously being handled in Singapore and Bergen are now being processed in Manila. In addition, and commencing from 1 January 2016, all invoices associated with the operation of various ships are now being handled in one company only, Odfjell Management AS instead of both in Odfjell Management AS and Odfjell Asia II Pte Ltd. These changes will allow Odfjell to further streamline the invoice handling process as well as the various tasks associated with cost control.

On an annual basis, Odfjell receives approximately 40,000 invoices from our suppliers. Our colleagues in Manila will in addition to handling these invoices also be involved in associated account-ing procedures, e.g. reconciliation of certain accounts and preparation of batch payments.

No material changes in procedures has been necessary to move the invoice handling process to Manila. In order to ensure a smooth and efficient procedure, Odfjell now receives all invoices through e-mail. Hence, no material change for Odfjell employees should be experienced.

The new offshored accounting team in Manila has gone through training both in Bergen and Singapore. After a start-up period and familiarization with the procedures, the team in Manila is now delivering quality services throughout the Group on behalf of the Finance and Accounting department.

From an organisational point of view, the offshore accounting team in Manila is organised together with the accounting department in Odfjell in the Philippines and reports to the oversea manager in Manila, and cooperates with the Odfjell Group Accounting Manager on a professional level.

Since the reorganisation, Singapore has become the major hub for Ship Management and now includes the Purchasing group and the Risk Management group

Singapore major hub forShip ManagementBy Helge Olsen, SVP Ship Management, Bergen

During Project Felix, Ship Management evalu-ated its strengths, weaknesses, opportunities and threats to improve the cost effectiveness of the organisation whilst maintaining and further improving needed performance. To get the most out of the organisational structure, we have centralised the operational purchas-ing for all vessels in Singapore, except for the Brazilian fleet. We also established a Risk Management group in Singapore and an internal audit group for ISM and ISO vessel audits in Manila.

The Purchasing group is organised as part of the new Procurement & Control section (P&C), and this section is as such providing services from the Bergen office and the Singapore office. The P&C section in the Bergen office includes the Head of P&C section, Controller, Contracting Manager and Senior Technical Controller. The P&C section in the Singapore office includes a Manager Purchasing and a team of eight purchasers.

By May 2015, the Risk Management section group in Singapore was operational, encom-passing a manager, two QA superintendents and an internal audit team in Manila report-ing to the manager in Singapore. The QHSSE Manager holds office in Bergen.

Risk Management´s main task is to identify trends based on analysis of our performance, implement needed improvements to our Safety and Quality system, manage Tanker Management Self Assessment reviews, internal safety campaigns as well as external and internal audits. They also introduce and follow up on the latest rules and regulations in our industry. In addition they manage the H&M claims and processing.During Project Felix, Ship Management con-tinued to offshore activities to Manila for the processing of salaries for our Northwestern European seafarers and the receipt and distribution of vessel certificates, policies, etc.


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LANDMARKS ODFJELL QUARTERLY MAGAZINE

Odfjell SE 4Q 2015 results:

Significant improvement in underlying performance in 2015By Terje Iversen, CFO/SVP Finance, Bergen

Net result for 2015 of negative USD 36 million, including negative effect from bunker deriva-tives of USD 64 million, compared with net result of negative USD 75 million in 2014. Full year EBITDA improved to USD 190 million from USD 96 million last year and operating expenses was reduced by USD 53 million compared with 2014. Project Felix (cost-cutting and efficiency programme) successfully com-pleted, ahead of target of more than USD 100 million in annual savings. These were some of the main headlines when we early February presented our 4Q 2015 results.

Chemical Tankers EBITDA in the fourth quar-ter was USD 33 million compared with USD 46 million in the third quarter. EBITDA includes negative effects from bunker derivatives of USD 20.5 million. The negative development is also partly explained by fewer sailing days in the quarter and a softening market for clean petroleum products and commodity chemicals towards the end of the quarter. Odfjell chemical freight index (ODFIX) was down 4.4% compared with previous quarter.

We continue to implement fuel efficiency initiatives. Average fuel savings for converted ships is above 20%. Odfjell’s shareholding in the tank terminals business delivered an EBITDA of USD 11.4 million in the fourth quarter, up from USD 9.9 million in the previ-ous quarter. Despite a somewhat uncertain market outlook, we expect 2016 results for Chemical Tankers to improve based on a more competitive cost structure, and expiry of loss-making bunker hedges. We also expect Odfjell Terminals´ 2016 results to be improved, on strong PID distillation activity and better stor-age results at Odfjell Terminals (Rotterdam) and stable result for the other terminals.

Odfjell Terminals (Rotterdam) has commitments for new contracts that will ramp up during the first half of 2016 and utilise the majority of the distillation (PID) capacity for 2016

Major projects commissioned at OTHBy Joe Nassif, President OTH and Odfjell USA

Odfjell Terminals (Houston) (OTH) com-pleted the construction of the new tank bay, Bay 10, on 1 October 2015. The bay consists of nine 1,900 cbm carbon steel liq-uid tanks designed to API 650F standards. Total capacity of Bay 10 is 17,100 cbm.

All tanks were 100% commercially committed the same day as they were commissioned.

Modifying projectOn 16 July 2015, another major tank system project was completed and com-missioned at OTH. Two stainless steel (304 quality) tanks spheres were modified to handle n-butene (a gas that is compressed to liquid state via cooling).

Autumn 2015, we decided a sale of the head office property in Bergen. After a thorough sales process, attracting the interest of many prospective investors, the property was acquired by a consortium of Odfjell Eiendom, Norchem AS and Rederiet Jacob Christensen. Odfjell has secured necessary office space in the same building by a minimum ten-years leaseback agreement. As the consortium includes participants who are considered as ‘related parties’ to Odfjell SE, the sale and leaseback transaction was subject to an extraordinary general meeting 17 February 2016 at which it was unanimously approved.

Sale and leaseback of headquarter office By Margrethe Gudbrandsen, Senior Advisor Communication, Bergen

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Amver Awards for Odfjell vesselsBy Geirmund Drivenes, VP Fleet Management, Bergen

On 8 October 2015, Odfjell greeted Per Sogge from the US Embassy in Oslo for an Amver Awards Programme ceremony. Mr Sogge, representing the United States Government, extended US appreciation to Odfjell for our continuous and long-standing commitment to the Amver Programme. 14 Odfjell ships were awarded; two with Tin Plaques (20 years), one with Purple (10 years), nine with Gold (five years) and two ships were recognised for completing their first year in the Amver Programme. The two ships receiving the Tin Plaque for an impressive 20 continuous years commitment to the programme were Bow Flower and Bow Riyad.

The Amver Award The origins of the Amver (the Automated Mutual Assistance Vessel Rescue System) system ultimately finds its roots in the Titanic disaster of 1912, and grew into a reporting system that could identify other ships in the area or a ship in distress. It is estimated that more than 2,800 lives have been saved by Amver-participating ships since year 2000. The Amver Awards Programme was inaugu-rated in 1971 to recognise those vessels that

Bow Flower and Bow Riyad received the Tin Plaque for an impressive 20 continuous years´ commitment to the Amver programme

From left: Geirmund Drivenes receiving on behalf of Odfjell the Tin Plaque Amver Award from Per Sogge

is a tribute to the support of a ship's crew, management, and ownership, which is so integral to the programme's success.

During the meeting at Odfjell’s headquarters, Harald Bauck, Bjarte Wetteland and Geirmund Drivenes gave Mr Sogge an insight into the world of Odfjell and our business world-wide, which was then followed by general discussions.

regularly participate in the Amver system. The presentation of Amver Awards serves as an instrument of US foreign policy. US embassies around the world use the occasion to arrange a ceremony to express the apprecia-tion to government and industry officials of a host nation for the voluntary participation of its ships in this humanitarian programme. The US Coast Guard also created the Amver Awards Programme as a way of rewarding those ships that remain ‘on plot’ for at least 128 days in a calendar year. Amver Awards


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Klaus Nyborg - New Director of the Board At an extraordinary general meeting of Odfjell SE on 9 December 2015, the general meet-ing supported the Nomination Committee's proposal and elected Klaus Nyborg as new Director of the Board.

Klaus Nyborg is a Danish citizen, born in 1963. He graduated with a M.Sc. in economics and law from Copenhagen Business School in 1990 and has management degrees from London Business School (1997) and IMD (2004).

In the period 1990-2002 he held various posi-tions in the A.P. Møller/Maersk Group, the last years as Vice President/Regional CFO/Head of Corporate Affairs for Maersk Line in Singapore (1998-2001) and Global CFO & Director for Maersk Logistics International AS. The following ten-year period (2002-2012) Mr Nyborg was first member of the executive management of the tanker company Torm AS and then CEO of Pacific Basin Shipping Ltd in Hong Kong. In 2014-2015 Klaus Nyborg held

Klaus Nyborg

Odfjell appoints new Chief of StaffOdfjell is pleased to announce that Øistein Jensen is appointed as new Chief of Staff. He commenced his new position on 29 February 2016.

Mr Jensen is a Norwegian citizen and has previously held the position as Director at PwC. He is a graduate of the Royal Norwegian Naval Academy and has among other positions served as submarine commander. He also holds an MBA from the Norwegian School of Economics (NHH). Mr Jensen has extensive experience within organisational development, corporate compliance and project management.– We are very pleased to welcome Øistein Jensen to Odfjell and we are looking forward to gaining from his extensive experience and personal skills, says Kristian Mørch, CEO in Odfjell.

Øistein Jensen

the position as Interim CEO of DS Norden AS, where he has also been on the board since 2012, as Chairman since 2015. He is also Board Director for several other companies, includ-ing being Chairman of A/S United Shipping & Trading Company and BAWAT A/S. Klaus Nyborg owns no shares in Odfjell SE, and he has no formal ties to major shareholders of the Company.

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QHSE ODFJELL QUARTERLY MAGAZINE

For all employees the Global Safety Day started with a video message from CEO Kristian Mørch, focusing on risk awareness, risk assessment, preventive and protective barriers, working at heights and personal protection equipment (PPE). He emphasised that: at Odfjell we do not compromise on safety. I do not compromise on safety.

On boardThe ships planned their activities individually, ensuring that the following was included:• A safety presentation by CEO Kristian Mørch• Inspection of all relevant equipment• A study of procedures covering work aloft• Competence and training session• General safety meeting

The Safety Day allows time for a thorough review of procedures, inspection of equipment, risk assessment and training, and contributes to a conformed approach to work aloft

Global Safety Day 2015:

- We do not compromise on safety!By Heike Beerbaum, Senior Advisor Corporate QHSE, Bergen, Harald Bauck, Manager RM and HSSE, Bergen and Shaun Kizewski, VP QHSE Odfjell Terminals (Houston)

Feedback shows that the ships really welcome the opportunity to focus on all aspects of a critical operation, and to systematically approach hazard identification when assess-ing the risk of the work ahead. The Safety Day allows time for a thorough review of procedures, inspection of equipment, risk assessment and training, and contributes to a conformed approach to work aloft.

To summarise from the many reports received from the ships, we quote Deck Cadet Prince Noel Cainap: - The fun part is that indeed, we are learning a lot while being able to have a stronger bond as colleagues who view safety as the first priority. I never expected that my first experience of Safety Day on board would be so memorable. Before the day ended, this

event made me realise a simple thought that my colleagues used to say before doing any task and that is the commitment to do it the right way, and do it the safe way.

At the terminalsOn the Safety Day several events took place throughout each of our terminals, with one goal in mind: to focus on risk management including the identification, assessment and treatment of risks, which included working at heights and general fall protection.

Activities included site walks with risk assessments being performed by all areas at Odfjell Terminals (Houston), presentations by Odfjell Terminals (Rotterdam) on working at heights and contractors showing off safety equipment, to Odfjell Terminals (Dalian)’s harness wearing competition and risk training activities. Everyone from the newly hired to the President of Odfjell Terminals took part in the activities to reinforce Odfjell Terminals´ commitment to ensuring safety is a valued globally.

The third annual Odfjell Global Safety Day took place on 4 November 2015. This year’s Safety Day focused on working at heights, fall protection and risk assessment in general. Each business unit, overseas office and site planned the Odfjell Global Safety Day 2015 under this theme with various local adjustments.


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Our QHSE performance shows a posi-tive trend. Fourth quarter 2015 is the first ever quarter recorded without a single lost time injury (LTI), and with 2015 recording a total of seven for the year, it is the best year ever in terms of LTIs on our managed vessels. This is an admirable feat and a credit to each and every one on board. We have evaluated all cases and the evaluations confirm that we have never seen fewer serious personnel accidents on board our ships than 2015. We are also glad to be able to record no fatalities in 2015.

Our improving safety performance, as well as vetting and port state control performance on board our managed vessels, also confirm our professionalism, expertise and our constant focus on safety culture over the last few years.

QHSE performance in Odfjell Terminals showed significant improve-ment from 2014 to 2015. The terminals division had two LTI incidents for 2015 and continues to focus on the ‘zero incidents’ goal by increasing our awareness of our risks and observing actions at the terminal to bring process safety to the forefront of everyone’s minds.

The terminals also continue to focus on barrier thinking and manage-ment to ensure the safety of all our stakeholders. The key objective is to ensure we have operational integrity and operational discipline to ensure operational excellence throughout all areas.

Focus on safety pays offBy Helge Olsen, SVP Ship Management, Bergen and Shaun Kizewski, Vice President QHSE, Odfjell Terminals (Houston)

Global Safety Day 2015:

- We do not compromise on safety!By Heike Beerbaum, Senior Advisor Corporate QHSE, Bergen, Harald Bauck, Manager RM and HSSE, Bergen and Shaun Kizewski, VP QHSE Odfjell Terminals (Houston)

HSSE Instructor/Maintenance Engineer Reny Ortega shows OiP employees at the Odfjell Academy training facility the various fall protection equipment on board that increases barriers during working at heights

At the terminals: Site walk with risk assessments being performed by all areas at Odfjell Terminals (Houston)

Global Safety day at OiPOdfjell in the Philippines (OiP) observed the third annual Odfjell Global Safety Day event with a viewing of the CEO's message, fall protection demonstration, and awareness sessions on ergonomic hazards.

HSSE Instructor/Maintenance Engineer Reny Ortega showed OiP employees at the

Odfjell Academy training facility the various fall protection equipment on board that increase barriers during working at heights. He also did a demonstration of using the double lanyard and retractable fall arrester.


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Safety stand-down at Odfjell Terminals (Houston) By Robin Cole, Director QHSE, Odfjell Terminals (Houston)

Safety is truly valued at Odfjell Terminals (Houston) (OTH) as production came to a halt on 28 October 2015 to discuss the importance of caring for others. The following day, mem-bers of the leadership team met with many of the OTH employees to discuss the importance of safety.

John Scott, Director of US Operations, opened the session attended by more than 60 OTH employees to discuss his belief that everyone has a right to work in a safe environment. It is the responsibility of each of us to ‘do the right thing’ when it comes to following proce-dures, practices and wearing the appropriate personal protection equipment (PPE) for the task at hand. Scott discussed the reason for the safety stand-down; to refocus the pulse of the site on Odfjell’s QHSE goal of zero accidents or near-accidents in light of two significant injuries in 2015.

Joe Nassif, President of OTH and Odfjell Terminals (Charleston) (OTC), discussed his expectations of everyone to ‘slow down and focus’ as well as and being empowered to ‘stop a task’ if it is unsafe and to seek assistance before moving forward. Nassif highlighted the safety statistics at OTH and OTC prior to an incident in September 2015 and the posi-tive recognition of the recent International Liquid Terminals Association (ILTA) award

(also presented in the October 2015 issue of Quarterly). However, Nassif expressed his concern over the two recorded incidents, both which could have been prevented if employees had performed hazard recognition prior to completing any task.

Robin Cole, Director QHSE, discussed the importance of looking out for each other and that safety is synonymous with words like ‘caring’ and ‘love’. Everyone in the workplace must look out for each other to ensure that we have ‘all hands on deck’ when it comes to working safely. Cole asked the group what PPE stood for, to emphasise the word ‘protection’ and that understanding the purpose of PPE is as important as understanding the properties of the various chemicals we handle.

Chad Stewart, Senior HSE Engineer, gave a high level overview of the two significant injuries and stressed the importance of the use of PPE when using it as well as when taking it off after the items became contaminated with Hexamethylenediamine (HMD). The second incident occurred when an operator was injured while stepping off of the elevated end of the gangway onto HMD barge. As the employee was stepping onto the barge, he slipped and caught himself because he was holding onto the handrail of the gangway. As he was catching himself, he felt a slight

Members of the leadership team met with many of the OTH employees to discuss the importance of safety

Slow down. Stay focused. Safety is a value. Understand the importance of PPE and learn how to handle con-taminated items. You are empowered not to perform an unsafe task and to seek help from others. Reposition the gangway when the elevated height of the end of the platform is more than 30 cm from the landing surface. Safety at work affects the family at home. We are a T.E.A.M (Together, Everyone, Achieves, More).

Safety message at OTH By Robin Cole, Director QHSE,

Odfjell Terminals (Houston)

pain in his back. This incident resulted in medical treatment and is considered an OSHA (Occupational Safety and Health Administration) recordable injury.


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Safety campaign:

– Safe walkways and ladders By Ashley Keegan Fernandes, QA Superintendent, Singapore

At Ship Management we aim to bring all our seafarers home safely and without any injuries. In order to achieve this goal a hazard identifica-tion (HAZID) list identifying distinct unsafe trends in 2013-2014 was created. Injuries due to unsafe walkways and ladders were on the rise and placed high on the HAZID list. Risk Management section was tasked with providing the action points to mitigate this hazard. It was suggested to introduce a safety campaign with a concentrated focus on safe walkways and ladders.

A campaign needed vessels to take time off from their regular routines and participate in it. Due to the nature of the trade that most of our vessels are engaged in, we were apprehensive that this would add unwanted burden on the ship´s staff. After much consideration a safety campaign was launched within our fleet during the third quarter 2015. The objective of the campaign was to allow an ‘on the job’ review of walkways and ladders on board. As part of the campaign, vessels were provided with a presentation, activities and a checklist, which facilitated in identifying areas and tasks that had a potential to cause slips/trips and fall on board. A thorough discussion was initiated on board to determine what barriers could be installed to avoid accidents or near accidents.The safety campaign was well received on

board and the feedback from the vessels was positive and encouraging: – This safety campaign serves as a reminder to all crew on board our vessels to double their efforts in maintaining safety on board, said Helge Skarpnes, Master on Bow Faith.

Many improvementsAs a result of the campaign, many improve-ments were implemented: painting the walkway from gangway to accommodation with yellow anti-slip paint, highlighting deck obstruction in yellow, barricading ladder entrances at heights and cordoning off mooring

areas to mention only a few.

The campaign was successful due to the active participation and encouragement of the senior staff ashore and on board. Despite the fact that this campaign has come to an end, we should always keep a lookout for hazards of walkways and ladders and strengthen the barriers on board to avoid slips, trips and falls.

Remember, safety works when people work together. Let us work together to identify and eliminate all hazards on board and achieve our goal of zero accidents.

Safety slogan winners at Odfjell Terminals USABy Robin Cole, Director QHSE, Odfjell Terminals (Houston)

January 2016 in Houston started off with the positive message that employees are valued just as much as safety. In December 2015, Odfjell Terminals (US) sponsored a safety contest to solicit the views of employees from Odfjell Terminals (Houston) (OTH) and Odfjell Terminals (Charleston) (OTC). The 2015 Safety Slogan Contest focused on safety themes regarding zero accidents, working at heights/fall protection, no releases and road safety.

Over 107 slogans were submitted by 33 employees representing various departments at both terminals. Twelve winners were selected and included in the 2016 Safety Calendar, which features not only the safety slogan of each winner but also additional safety tips such as eye safety, power tools safety tips and chemical storage tips, to name just a few. On 25 and 27 January 2016, Joe Nassif, President of OTH and Odfjell USA presented each winner with a gift certificate and a ‘Goal Zero’ safety lapel pin as well as a copy of the Safety Calendar (which will be given to all employees). As Joe frequently states during employee gatherings: - Remember, we are a T.E.A.M (Together Everyone Achieves More) at Odfjell and together, we can create an ‘incident-free culture’.

From left: Diane Hudson (ICT), Samantha Sims (Accounting), President Joe Nassif and Patty Johnson (HR)

Walkway painted with anti-skid in order to reduce the risks of slips, trips and falls

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As from 1 March 2016 Øistein Jensen, Chief of Staff, has been appointed Compliance Officer Corporate.

At Odfjell we have set procedures and standards for how we wish to conduct our business, this is reflected in our governing documents such as the Code of Conduct and other policies and principles. In order to make sure that these standards are maintained and integrated into our business, Odfjell has appointed a Compliance Officer Corporate to help and guide employees that may be faced with difficult situations or ethical dilemmas in work related situations.

If an employee wants guidance on how to understand and use our Code of Conduct, he or she should contact their immediate superior. However, if this fails to resolve the issue, the matters should be forwarded to

the Compliance Officer Corporate who will give guidance or direction. The Compliance Officer Corporate will handle any reported suspicion of malpractice.

Odfjell has installed a channel for con-fidential and anonymous reporting to Odfjell SE of issues that should be brought to Management’s attention, and where other reporting procedures cannot be used. The Reporting Hotline is available via Odfjell Insite/Compliance Reporting or the Odfjell webpage/Contact Odfjell.


Carbon Disclosure Project (CDP) works to transform the way the world does business, to prevent dangerous climate change and protect our natural resources. CDP sees a world where capital is efficiently allocated to create long-term prosperity rather than short-term gain at the expense of our environment. Odfjell has since 2009 responded to the CDP. The Odfjell CDP 2015 climate change score shows a result of 91 D.

91 is a disclosure score, meaning the quality and completeness of the company’s response, and this score is the best we have ever reached. D is the performance band, meaning the assessment of our actions, which contributes to climate change mitigation, adaptation and transparency. Due to changes in the scoring methodology we received a D compared to C in 2014. Nevertheless our carbon dioxide emis-sion was reduced by 6.6 % in 2014 compared with 2013. With the ongoing propulsion project for the Kvaerner and Poland class vessels and other environmental initiatives, we expect a further reduction of our carbon dioxide emission for 2015, which will make a positive impact on our future scores.

With the ongoing propulsion project for the Kvaerner and Poland classes and other environmental initiatives we expect a further reduction of our carbon dioxide emission for 2015, which will make a positive impact on our future scores

New Compliance Officer Corporate

CDP is an investor initiative and holds the largest collection globally of self-reported climate change, water and forest-risk data. Through their global system, companies, investors and cities are better able to mitigate risk, capitalise on opportunities and make investment decisions that drive action towards a more sustainable world.

Carbon Disclosure Project 2015By Heike Beerbaum, Senior Advisor Corporate QHSE, Bergen

Øistein Jensen welcomes input from employees and he guarantees that all cases will be handled with full discretion. Compliance Officer Odfjell Terminals has not changed and stays with Koert Schouten, CFO Odfjell Terminals.

Odfjell has an anonymous hotline for difficult situations or ethical dilemmas in work related situations Øistein Jensen



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Think of all the computer systems we have at Odfjell. They all contain information and most of them also calculate, compute and filtrate this information so we can utilise it in our busi-ness. Information is considered the lifeblood of a successful and profitable business and it is the employees who work as veins to pass this information through. Since the information is so essential for any business, companies will always try to secure it. However, most companies and employees believe information security is only a technical issue, where the ICT department is solely responsible in protect-ing the information assets. This is a serious misconception and one that I will refute once and for all! Information security is everyone’s responsibility at any level of the hierarchy in Odfjell.

The following gives an overview of some major cyber threats that could be used against Odfjell over the next few months and how each and every one of you can protect against it:

E-mailIn today’s hyper-connected world, e-mail is a vital platform for any businesses to build relationships with customers, support inter-nal employee communication, and optimise overall productivity. In short, without e-mail the information flow would be challenging. But there are several security issues with e-mail. The worst is that you cannot trust that the sender address is the real sender. Anyone can impersonate the sender and it is scary how easy it is to do this.

Technical securityEach e-mail that reaches you has passed more than 10 security systems before you receive it. In a normal week Odfjell receives more than 120,000 e-mails. Approximately 20,000 of these are stopped by our security systems because they are spam or a fraud attempt. Nevertheless, despite all the security we have built in, employees still continue to receive fraudulent e-mails. We have, during the last few months, had several examples of:

• E-mail pretending and looking like they are sent by management at Odfjell.• E-mail pretending and looking like they are sent by vendors requesting us to change banking details for next payment.• E-mail pretending and looking like they are sent by our bank connections trying to get us to reveal passwords or pin codes.

Information security:- Everybody's business By Jan Ottemo, Senior Security Administrator, Bergen

Most of these e-mails are quite sophisticated and not easy to reveal. Some of the e-mails also show that the swindlers have actually spent some time mapping which Odfjell employees are working in accounting and/or finance and/or in top management. Even with all our built-in security features we still have to rely on the individual to distinguish what is a fraudulent e-mail or not.

Phone scamEmployees at Odfjell have received phone calls from people pretending to be calling on behalf of management at Odfjell. The scammer has documentation he needs to forward to the employer and thus needs his e-mail address. The scammer is calling from a hidden phone number. When asking for the number to call back an excuse is given not to give the number and that he will instead call back later. They of course never call back. This is a typical phone scam where an e-mail correspondence ultimately would have ended in trying to trick our employer to give away sensitive information or even do a money transaction.

USB sticksThis is a well-known scam to get hold of sensitive information. Even if we have not experienced it ourselves at Odfjell yet, it does happen. In one example from Germany, workers at a chemical company found USB sticks in the company parking lot. When the company's ITC department examined the sticks, they discovered that they were loaded with malware set to autorun in company computers, which would harvest employee login credentials. It appears that the criminal dropped the keys in the hope of tricking employees to get them into the company network.

So the learning from this must be, NEVER use a USB stick in the office unless you know what is on it and who copied data to it. Even then, be careful as it could bring along malware from an infected home computer or a laptop. Remember that neither the Odfjell ICT depart-ments nor a single person is responsible for the security of the information at our company. It is the responsibility of the whole organisation, all the employees, to ensure the privacy and accuracy of our information.

Remember ICT Security starts and ends with you!

• Bad grammar. Fraudulent e-mails often have bad grammar, but not always!• Fake e-mails often ask you to reply to the message with confidential information.• If a payment request is submitted in an e-mail, get a verbal confirmation from the sender.• If e-mails from known vendors ask you to use a new bank account get it confirmed verbally. Be aware of sudden changes in business practices. • Always be sceptical to mail containing links.• If you are unsure if the e-mail is a legitimate one and it has a link: Type the address in Explorer, DO NOT use the link! This is very important if you have received an e-mail with a link to a bank as it MIGHT be correct.• Logging into banks in Norway, choose to use BankID, not just with PIN (without BankID).• Look for padlock in address-bar. All banks use certificates that identify them. You will not find a net-bank in Norway without a padlock. Example:

What in an e-mail should sound the alarm bell and what to do?

Here are a few tips:

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PORTRAIT ODFJELL QUARTERLY MAGAZINE

- Delegation, responsibility and ownershipBy Margrethe Gudbrandsen, Sr. Advisor Communication, Bergen

Kristian Mørch has now been with Odfjell as our CEO for six exciting and encouraging months now. It is about time that we get an insight into who Kristian is, what he will bring along to Odfjell and how he will lead our company to future success. Please meet Kristian Mørch.

You have been with Odfjell for almost half a year now. You have been able to meet many employees, visited many of our overseas offices, terminals and vessels. How has this period been for you? Any surprises so far or any major cultural differences?

- There is a saying that goes ‘time flies when you are having fun’ and I think that is a good way of describing the first six months. I have been very busy getting to know the business and the organisation, but it has so far been a fantastic journey. I have felt very welcome everywhere I have been, and I feel there is a high level of engagement and know-how everywhere I go. I think the only real surprise I have had is that in Odfjell we seem to be spending far too much time internally focused, and not enough time competing externally. This is something we need to change.

You have had the privilege to report an encouraging quarter result for the Company compared with the last seven years. But at the same time, you are leading a workforce who has been through massive cuts, lost good colleagues and experienced major changes during the last year, a positive but also challenging task. How do you motivate your employees and what is the key to success in such restructuring processes that we have been through?

- It is correct that I have had the pleasure of presenting the first two profitable quarterly earnings since 2008. As I have been telling the investors, this is not a result of something I have done, but a result of hard and dedicated work by the entire organisation. I have of course done my small part, but the reality is that it could only happen if we all have done our share. My feeling is that this is in itself a motivating factor, so when we can all feel that the work we do helps to turn things around, and thereby we can see that we grow stronger every day, then this motivates us as a team. My job as CEO is then to be clear on our strategic direction.

What is the most important that you have brought with you to Odfjell?

- It is a difficult question to answer. We are all

different, with different skills and backgrounds, and none is more important than the other as we all have a role to play, but maybe it has been a benefit for Odfjell that I arrive in the job with a fresh view on many things.

How do you describe your leadership, and do you experience any difference between Norwegian and Danish management or between Danish and Norwegian way of doing business?

- It is difficult to say what the difference is between business cultures in Denmark and Norway, because it might also be the difference

in company cultures instead of national cul-ture. The biggest difference for me compared to my previous jobs is that Odfjell seems to be heavy on structure, administration and pro-cesses which mean that a lot of the energy from the organisation is focused internally, instead of being focused externally towards customers and trades. This may not sound entirely fair, as we have great customer relationships etc, but at least for me as a CEO I have spent far too much time reviewing internal policies over the first six months.

Regarding my leadership style, I believe strongly in delegation and by that I mean both

Kristian Mørch


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- Delegation, responsibility and ownershipBy Margrethe Gudbrandsen, Sr. Advisor Communication, Bergen

the responsibility and authority. As a leader I need to ensure that we use our resources effi-ciently, and it is not an efficient use of my time if I have to be deeply involved in everything that goes on. If I did that, I would not have time to do my job. It is of course a balance, as I need to understand what goes on, but that is not the same as being involved in making decisions. This requires trust from leaders and managers, and it requires that we all take our responsibility seriously and feel ownership of everything we do, but at the same time it will make Odfjell a fun and inspiring place to work.

In one of your early speeches you said that you will focus on business intelligence and that this could be one of our advantages in comparison with our competitors. Have you made up your mind on how you will enforce this work?

- That is indeed one of my core beliefs that business intelligence needs to be deeply anchored in everything we do. There are already a lot of business intelligence initia-tives ongoing, with Project Moneyball etc, and Project Felix was actually also a project based on the same philosophy. Business intelligence is a fancy term, but at the end of the day it is a mind-set that resembles curiosity. It may sound simple, but if you look at the world around you and always ask yourself ‘why?’ (and you are genuinely interested in the answer) then things around you will start improving. A business intelligence IT system will help you do that, but business intelligence is not a system, it is a way of thinking. Let me give you a simple example. In my previous job I asked one of the brokers: ‘Would it not be great that when you

are doing a freight calculation in the system there would be a pop out window that told you what the average port cost and rotation had been with that customer or in that port the last 10 times, and if it changed depending on the season?’ He obviously said: ‘That would be great!’ I then told him, that until we figure out an IT system that can do it automatically why don’t you ask the operator or grab the phone and call the agent, because we actually have that information available already!

Can you say something on where you see Odfjell in about five years’ time?

- In five years’ time Odfjell will be the leading integrated chemical tanker company in the world. We will have a balance sheet that is much stronger than today, and we will have a programme in place for renewing the fleet. We will be a company that beats our competition on service, cost and profitability.

Being a CEO for an international shipping company is a challenging task. How is a normal working day for you?

- I do not think I have ‘a normal working day’ as there is always something special going on. So far I have been very busy, and it is often difficult for me to plan my days as the schedule often changes at the last minute, so the best way to describe it is ‘busy’. At the moment I am also working from both Bergen and Copenhagen, which is not ideal and I am looking forward to moving to Bergen permanently. What it has meant is that when I am in Bergen I have more meetings than usual, but all in all I manage it.

My wife sometimes has to remind me that the working week only has five days, but I am very passionate about what I do so I sometimes forget.

You are preparing to move to Norway, Bergen. What does your family think about this?

- We are all very excited. My kids have been visiting their new schools already, and we have actually bought a plot of land in Hop so we are building a new house in Bergen, which is exciting to us all!

We have noticed that you like to ski and have a cottage near Lillehammer, so you’re not too unfamiliar with the Norwegian ski culture. However, you have now moved to the west coast of Norway were the real challenging slopes are. Do you have any plans for discov-ering this part of the Norwegian mountains during the winter?

- I absolutely look forward to skiing near Bergen, and in particular I hear that Myrkdalen has great deep powder, so I am itching to explore it!

You are also a passionate chef, what is your favourite dish and have you had a chance to taste real Norwegian food?

- I cook all kinds of food, lately a lot of fish and vegetables. However I like most food and I like to experiment…sometimes it goes well, and other times we need to call for a pizza as back up! This Christmas season I tried the traditional Norwegian Christmas food, and…I have to be honest, I’m not a great fan of pinnekjøtt, lutefisk or rakfisk!

It has been a hectic first six months, where the main focus has been to familiarise with the Odfjell organisation. During the autumn Kristian went to visit, among many places, Odfjell Terminals (Houston). From left: John Stuart Scott, Director US Operations and Kristian Mørch

When at OTH, Kristian also had the pleasure of visiting Bow Cardinal and Captain Barerra and his crew

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BRIEFINGS ODFJELL QUARTERLY MAGAZINE

Bow Firda – Ship of the year By Geirmund Drivenes, VP Fleet Management, Bergen

Through a year of operations the perfor-mance of all ships managed by Odfjell is measured by their achievement of defined key performance indicators (KPIs). The KPIs cover decisive areas such as health, safety and environment (HSE), technical condition and maintenance, compliance with expected standards (verifications) and last, but not least operational costs (OPEX). The performance is regularly com-municated internally, both ashore and on board, through the Quarterly Performance Report.

The measurements have recently been incorporated into a processing system that is more mathematically founded than the previous, i.e through a pre-defined system of weight-ing of KPIs and with corre-sponding calculations. Based on this we are able to draw a scoreboard ranking the ships. As the performance measurements are dynamic activities, the scoreboard will also be dynamic and subject to update several times every year, say monthly, quarterly and/or yearly, etc. As such, the scoreboard will be made accessible as soon as the final version of its content has been decided. Last year the regime of nominating and appointing a ‘ship of the year’ was reinstated after several years of being idle. The process of appointing ship of the year of 2014 was also based on KPI scores of the ships, though not on the same ‘mathematical level’ as for 2015. Basically, the following procedure has been used for nominating and appointing ship of the year for 2015: 1. All ships have been processed and rated based on KPI scores.2. The three ships on top have been nominated.3. Fleet Managers jointly agreed on which one of the top three to nominate as the winner. During stage three the human element is considered, like cooperation ship/shore, feedback from superintendents, Odfjell Tankers, happy customers, sense of happy ship/crew,

attitude and positivity on board etc. We also look into severity of observations for instance from vettings and port state controls (PSC). Also a ship’s ability to deliver sustainable results year after year is weighted in the basis for decisions.4. Senior Vice President, Ship Management Department has the final word before appointment is done. The three ships that came out on top initially were Bow Lind, Bow Sea and Bow Firda. All three ships had scored (and performed) very well with the scores differing them of only a fraction of a percentage. After thorough considerations the ship appointed as ship of the year 2015, became Bow Firda. She scored an impressive 93.3% on our performance barometers by end 2015. What made the leverage lean in Bow Firda’s favour were the final considerations based on

Ship of the year diploma

For excellent achievement of our Key Performance Indicators, which cover decisive areas as Health Safety and

Environment (HSE), Technical Condition and Maintenance, Compliance with Expected Standards and

Operational Expenses (OPEX).

For fostering human elements such as cooperation ship/shore, feedback from Superintendents,

Odfjell Tankers, good customer service, a sense of happy ship/crew, commitment and positivity on board.

For having the ability to deliver sustainable results year after year.

Bergen, Norway Helge Olsen 24 February 2016

Senior Vice President, Ship Management

is awarded to

A big surprise for the crew on Bow FirdaOn 24 of February 2016, VP Fleet Management, Geirmund Drivenes visited Bow Firda in Rotterdam. He conducted a meeting with the crew and officers on board. His presenta-tion was a message from the Fleets on vital aspect of safe and efficient Ship Management in Odfjell.

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stage three above. In particular, not only has she performed brilliantly in 2015, she has in fact been performing excellently since she was delivered as a newbuilding from Kværner Florø in November 2003. A sincere appreciation with thanks and con-gratulations to the Shipboard management Teams (SMT) (and their officers and crew) on board Bow Firda. It is important to remember that there have been many involved in the success of Bow Firda, not only the present SMT and crew. Since January 2010 Bow Firda has had the following Captains/Chief Engineers: CAP Sigurd Fjærestad and CAP John E. Steffensen - Jan. 2010–July 2013 CAP Bent Ebeltoft - 6/7/2013-11/2/2015CAP Arvid Langeteig - 2/9-2013-2/5-2015CAP Meidel Eriksen - 2/5/2015-11/5/2015CAP John Wang - 12/5-2015–CAP Jan Nilsen - 7/7-2015– Chief EngineersCHE Ingmar Seth and Terje Lie - Jan. 2010-(CHE Feliciano Cometa a short period - 16/9-19/11-2015)

The officers and crew were very surprised when it was announced that Bow Firda was awarded as the Ship of the year 2015

Mr Drivenes managed to take the offi-cers and crew completely by surprise as the big X-factor at the end of his presentation was to announce that Bow Firda, our very own and beautiful lady was hailed as ‘Ship of the year 2015’. Even the normally calm and relaxed Captain John Jarle Wang was amazed by the stunning news.

- The award is the result of our dedication and hard work, and also comes as a long-term result of proper planning and good teamwork of the ship and shore personnel. It has all summed up and contributed to the excellent performance of our lady.

The award is dedicated not only to the crew and officers presently on board but also to those who served her for the past years.

The ship of the year prize was handed over to Captain John Jarle Wang whilst in Rotterdam in February. From left Captain John Jarle Wang and Geirmund Drivenes


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By Jan Ove Ødegård, Marine Manager, Bergen

If someone had told me 15 years ago that we would have paperless navigation on board our vessels, I would have had trouble taking them seriously. After all, the navigational paper charts have been the heart and soul of ship navigation for centuries. However, as we are facing the fourth industrial revolu-tion, electronic chart display and information system (ECDIS) is evidentially ousting the paper charts.

On 2 June 2015, ECDIS was installed on board Bow Elm as the last of our ships to have such equipment. It was an important milestone for Odfjell to utilise ECDIS as the primary tool for navigation on board all our vessels.

Since its implementation, focus has been on familiarisation and full utilisation of the equipment. The critical factor is our attitude. As with all other changes, we need to be open to change and be willing to learn.

Even if ECDIS has only been in use for a short period, we cannot deny the fact that ECDIS does have an edge over paper charts. Here are some advantages and challenges of paperless navigation.

Some advantages with ECDIS

• Greater availability of electronic charts. • With ECDIS as the primary source, the planning and summarising of the passage plan is much faster than on paper charts. Daily reporting of data can be done quicker. • No need for the time-consuming tasks for correcting charts. The Navigating Officer now receives weekly updates to the electronic charts via e-mail to be downloaded onto a zip drive and uploaded to the ECDIS. Even the dreaded temporary and preliminary notices (T&P notices) are now shown electronically on the ECDIS. • Enabling the user to see the vessel’s position in real time without user action. The ECDIS is interfaced with both the vessel’s independent GPS transceivers, thereby making the system work even if one fails. ECDIS was born as an anti- grounding aid to navigation. It is a useful tool taking the ability of the ECDIS to warn the user of approaching shallow waters. The user has flexibility to determine these safety settings on the ECDIS. The following are examples of available safety settings: • Safety frame (look ahead): this is the setting that will sound an alarm if the vessel is within the limit specified.

• Safety depth: marks and highlights the minimum depth required for the vessel to remain safely afloat. As a thumb rule, safety depth = deepest static draught + anticipated squat + company’s Min UKC. • Safety contour: in general, the safety contour may be set ‘equal to’ but not ‘lower than’ the safety depth setting. Waters with depths lower than the safety contours should be construed as no-go area. • Deep contour: this setting is very handy for vessels engaged in operations such as tank cleaning or ballast water exchange where it is mandatory to carry out the operation in waters exceeding a certain depth. • Alarm settings: While certain critical safety alarms are ON by default and cannot be changed, there are alarms that may be switched on or off by the user depending on the situation. Prudence should be exercised when activating/deactivating alarms and warnings. • Too many alarms could result in alarm deafness, and too few alarms might result in a false sense of safety. It is of utmost importance that the Navigator is fully familiar with all the alarms and warnings that have been activated.

Electronic chart display and information system (ECDIS) is evidentially conquering out the paper charts

Implementation of ECDIS:

- Going paperless


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• The ECDIS unit also has a man-overboard function that can be activated in the event of a person falling overboard. • Although electronic charts are costly, they still have an edge over paper charts in terms of investment and logistic cost.

But, there are also some challenges with the use of ECDIS

• With equipment that is seemingly fool- proof, there is a tendency for Navigators to over-rely on it. The consequences can be disastrous. The ability and need to keep a proper visual lookout cannot be over-emphasised. No matter how good the ECDIS is, it is crucial that Navigators continue to maintain an efficient lookout and a good radar watch. • The purpose of the ECDIS is to facilitate efficient navigation, not to substitute it. It is still important to practice essential skills such as radar plotting, sights and compass errors. • Feeding in wrong parameters for critical safety settings such as the safety depths, safety contours, etc. can give a false sense of safety. It is extremely important that the Master ensures that these settings are verified each time they are changed. These settings should be password-protected and every Navigator should verify them prior to taking over the watch. Alarms should not be deactivated without strong reason and never just for the sake of avoiding frequent alarms. • As mentioned previously, if alarms start going off too frequently, the Navigator could end up in a dangerous situation called alarm deafness. This leads to the watchkeeper acknowledging the alarm without checking it. There could be occasions in which he misses out on a critical warning. Hence, alarms should be carefully chosen, appropriate to the prevailing conditions. Every single alarm should be checked and investigated without prior acknowledging.• Taking into account that a majority of our Navigators have during most of their career used paper charts for navigation, it is reasonable to believe that their skills pertaining to paper charts are higher compared to ECDIS. The transition is challenging and this could create a mental block for many. Hence, it is vital that senior Navigators embrace this new technology with open arms and do their part in order to improve the process of change.

It cannot be disputed that even with all its challenges, ECDIS is a fantastic piece of equipment and it is here to stay.

By Matt Duke, VP Corporate ICT, Bergen

Project Felix kick-started a motivation for innovation and cooperation between ICT and other business units that has been encouraging. At the same time the reorganisation of Information Technology allowed us to have more focus on solving business challenges, whilst the build out of the 24/7/365 ICT support team in Manila provided an ability to implement changes with agility. New ideas went from whiteboard brainstorming to production for the entire fleet within weeks, where previous global rollouts on board had taken months. We have a constant stream of great ideas from the business, an effective project portfolio process, a talented development team following agile working methods and a deployment team available around the clock in Manila to remotely install the products on board. There have been quantifiable improvements to our business through these innovations, but it has come at a cost; complexity for our crew.

Duplication of data entryIn previous articles of Quarterly we have discussed some of those innovations; bunker performance system and vessel energy efficiency system. I am fortunate to get the opportunity to speak with many different people in our organisation, and the feedback from our sailors is clear: the thirst for information at shore means that our crew are spending more and more time on data entry, and in some circumstances they experience the need to input duplicate information. This causes frustration and also sometimes extra workload.

Uniformity on land, diversity at sea Odfjell’s need for quality information is increasing and this appetite spans across departments. In the past, Ship Management was the main consumer of

information from the vessels, but now Odfjell Tankers has an equally strong focus. These demands require different information that sometimes increase crew workload. Business analytics has become a core part of our strategy, and we have complicated operations that therefore do need precise and varied data entry in our systems. On shore we have consolidated many systems into our core enterprise resource planning system (ERP) IMOS, with our business analytics being built on Power BI. At sea we have a similar situation to how our offices were five years ago: Multiple systems and no single platform.

In the short-term deploying a large num-ber of innovations on board has been a tremendous success for our profitability, efficiency and carbon footprint. Long-term we must now also make life on board easier for our loyal sailors whose dedication and cooperation in providing quality informa-tion has been world class. We must simplify the complex.

Project VIDEOIn maturing our business analytics we are now better placed than ever to determine which information has value for us, and we also can see where cross-departmental needs aligning and where duplication can be removed. In December our ICT Steering Committee formally approved a project, codenamed ‘VIDEO’ (Vessel Integrated Data Exchange Options), to consolidate our on board systems and provide an intuitive all-in-one application, automating data entry, with no duplicate work for crew. In a nutshell: fewer systems with more automatic assistance to enter data, provid-ing both efficient operations and highly valuable information for the business. We will look across our organisation and be very careful engaging crew in the process.

CostControl

Maintenance

Stowage

CrewReports

ERPSystem

Spreasheets

Opera9onaltracking

Mul$plesystemswithduplicateinputarecausingextraworkloadonboard.

DUPLICATEINFORMATION

Project VIDEO:Simplifying complexity

Maintenance

Opera$ons

Simplifythelandscapeandcollectthe«Correct»informa$onwithminimalduplica$onandapplica$ons

THECORRECTINFORMATION

Automa$on

Simplify the landscape and collect the correct information with minimal duplication and applications

Multiple systems with duplicate input are causing extra workload on board


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By Pan Changhai, Project Manager, Odfjell Terminals (Dalian)

Odfjell Terminals (Changxing) (OTCX) is a joint venture project between Odfjell Terminals Asia (50%), Dalian Port (PDA) Company Ltd (30%) and Dalian Changxing Island Administrative Commission (CXI Committee) (20%). The ter-minal is strategically located at the Changxing Island, which is a major national petrochemical industry base. Total land area of OTCX is about 52 hectares, reclaimed from the sea.

The planned OTCX project will be developed in phases depending on the progress of the development of the industry zone. First phase will be two berths only, without any storage tanks. We are currently in the process of obtaining permit approvals. First phase con-struction is scheduled to start the beginning of 2017, and be completed by the end of 2018.

Development of the industrial zoneIn August 2015, a major chemical producer kicked off construction of its LPG alkylation plant. Its LPG processing capacity is about 200,000 tonnes per year and the output of alkylate is about 160,000 tonnes per year. This should be followed by a second stage of invest-ment with a 200,000 tonnes polypropylene project. In the meantime OTCX is negotiating to handle 560,000 tonnes per annum of their feedstock and finished products through its new jetties. The confirmed resettlement of PETROCHINA Dalian refinery and Kunluan Gas is estimated 2018/19 and will facilitate the downstream development of the industrial park.

Growing industrial park:

Odfjell Terminals (Changxing)

Alkylation unit construction in progress

Production of in-house storage under construction

On 3 December 2015, Yong-Chan Gill, QHSE Manager at Odfjell Terminals (Korea) received an award from Ulsan City Mayor for his contribution to making Ulsan industrial zone a safer place to work.

Gill has actively participated in the safety campaigns held in the industrial zone together with Nuclear Safety Team and Industrial Safety Team of Ulsan City, and given

presentations to help enhance the safety culture in Ulsan industrial area.

Gill has also participated in the Ulsan City's effort of making quick reaction alert scenario and setting up an emergency response sce-nario in preparation for a possible missile attack on Onsan industrial zone, by providing data on chemical substance properties and methodologies, and antidotes used as first aid treatment.

Award for making Ulsan industrial zone a safer place to workBy Sam Lee, CEO, Odfjell Terminals (Korea)

Yong-Chan Gill receiving the award from the Ulsan City Mayor


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Ship Management LFDP Advanced Leadership I 2016 completedBy Shiela Virtusio, Information Officer, Manila

On 19 February 2016, the Advanced Leadership (AL) I Class of 2016 completed the entire Ship Management’s Leader- and Followership Development Programme (LFDP) AL I Programme. The programme, which is required prior to promotion to Chief Officer and Second Engineer, is conducted once a year and runs over seven weeks. A total of 27 participants, 17 from deck and 10 from engine, finished the theoretical training in Manila and the internship in Bergen.

Training in ManilaThe first two weeks of the course focused on leadership and followership theories, Odfjell's expectations, and company procedures. Classroom activities such as the challenging conversation honed participants' communi-cation skills during difficult situations, while exercise on student presentations tested their ability to deliver a compelling presentation and speak before a crowd. Practical activities in bowling, cooking and wakeboarding pro-moted camaraderie among the participants.

After this, the group had a two-day class on event handling before they were split into groups for their position-specific trainings.

The Deck Officers attended a three-day gas measurement course and a five-day cargo handling course while the Engine Officers underwent a three-day Marinfloc oily water separator training and a five-day two-stroke diesel engine course. A five-day dry-docking course was the last theoretical training undergone by the participants prior their internship.

Internship in BergenThe two-week internship of the AL I Class of 2016 commenced on 8 February 2016. The Deck Officers spent their internship with Odfjell Tankers while the Engine Officers had theirs with Ship Management Technology.

The internship enabled the participants to meet various personnel from the shore organisation in Bergen. The entire group also had the opportunity to visit the Framo office while the engineers, in addition, visited Bergen Engines – Rolls-Royce.

The Maritime Personnel Section (MPS) congratulates the members of AL I Class of 2016!

LFDP Advanced Leadership I 2016 participants together with VP MPS and Leadership/Followership and Culture Subject Responsible and Subject Handler Tore Henriksen

A contribution award from Ministry of Ocean and FisheryBy Sam Lee, CEO, Odfjell Terminals (Korea)

On 31 December 2015, Odfjell Terminals (Korea) (OTK)’s Operations Manager Chun-Woo Lee received an award from the Ministry of Ocean and Fishery for his contribution to make Ulsan port a safer and more efficient port with his effort in reducing demurrage, enabling larger vessels to berth/unberth, expanding night navigations, dredging OTK approaching channel to maximise berth availability at UPA cost.

From the award ceremony. From left: Jun-Gon Kim, Director General of Ulsan Regional Office of Ministry of Oceans and Fisheries and Chun-Woo Lee, Operations Manager OTK


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A three-day Officers´ Conference was held in Bergen in October 2015 at Scandic Bergen City Hotel. This particular conference was especially important both for officers and onshore staff following the many changes in the wake of Project Felix.

On the first day of the conference a Captains´ workshop was arranged where ‘Project Felix and the way forward’ was the main theme. The many changes implemented were discussed with the main purpose being that of getting the Captains’ view on the consequences these changes would have for the operations of the ships. Important issues like budgeting, pur-chasing and catering were also discussed, as well as the issue surrounding how to reduce the administrative burden on board and manning of the vessels.

A constructive conferenceDuring the whole conference the dialog was honest, direct and constructive even on chal-lenging topics. The following days welcomed interesting presenters, and CEO Kristian Mørch had the honour of opening the conference with a general status report on Odfjell. All departments were well represented during the conference and all shared their knowledge and information in favour of our seafarers and office staff.

A ‘Captains´ workshop’ was arranged where ‘Project Felix and the way forward’ was the main theme

Officers Conference in Bergen:A particularly important conference By Eva Storeide, Crewing and Social Officer, Bergen

Our CEO Kristian Mørch had the pleasure of opening the three-day conference

Uncertain expectationsIt is fair to say that after a rough period for the Company, the expectations to the Officers´ Conference were rather uncertain and therefore, it is a pleasure to report that the general atmosphere was very amicable and the feedback from the seafarers has been nothing but positive. It is clear that this conference was

necessary and it was an important opportunity for managers on shore to interact with seafar-ing colleagues face to face.

The highlight of the three days, as always, was the awarding ceremony. As always all par-ticipants were impressed and humbled by the vast experience represented by the awardees.


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By Captain Ian Hågensen, Bow Pioneer

Instead of disposing of expired, no longer valid equipment as ‘special waste’ in port, the crew on Bow Pioneer decided to use their old line-throwing appliance for training purposes.

After receiving brand new line-throwing appli-ances in Fujairah late December 2015, the crew started to remove the old line-throwing appliances to make room for the new ones. The crew discussed how to dispose of the old ones in a safe and proper way. A win-win solution was to use the equipment for training purposes and then dispose the remaining parts as metal/plastic waste once in port.

Line-throwing trainingThe crew gathered back on the poop deck for training on how to use a line-throwing appli-ance. Chief Officer Alexander McDonald first gave instructions on how to use the equipment, before he fired the first unit. Fitter Oblefias fired the second one and our two cadets, Deck Cadet Joebenson P. Viado and Engine Cadet Antonio Jr. N. Valiente got the opportunity to fire the last two to get some invaluable hands-on training in use of safety equipment. Deck Cadet Viado preparing his unit. Goggles were used when the rocket was fired as the rocket with line trailing left the

unit with a bang and lots of smoke. The crew also got some training in retrieving a thin line with a used rocket on the end

Training on board:

Making the most out of our resources

Chief Officer McDonald as he is firing his unit

SEA AND SHORE ODFJELL QUARTERLY MAGAZINE


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By Michael F. Thomsen, 1st year trainee, Lauritzen Kosan

An enhanced technical understanding of how a gas carrier operates and a better understand-ing of ‘life at sea’ from a sailor’s point of view, what better way to acquire knowledge than by travelling with a vessel learning at first-hand.

Rough startThe journey began in November 2015 with a ride on a launch boat from Gothenburg port to the anchorage location of the vessel Bow Guardian, which took about an hour. Already at this point the weather was fairly rough with a swell around 4-5 metres, so being on a launch boat is well… let us just say I was not that ‘seaworthy’ after all! My journey began in Gothenburg (Sweden) and ended in Terneuzen (The Netherlands) which included an intermediate stop in Teesport (Great Britain). The whole journey amounted to approximately six days.

Life at seaAs a first year trainee with limited experi-ence and knowledge concerning vessels, the opportunity to come aboard and travel with a vessel to learn more not only about the vessel, but also about the life of a sailor, is a valuable lesson in my opinion and one every trainee should experience.

On board Bow Guardian I had plenty of time to inspect the hull plus other areas of the vessel and learn more about the different procedures carried out on a gas carrier first-hand. I got a better understanding of how the vessel prepares the tanks before loading, comprising gas freeing, purging, and gassing up the tanks, which can be difficult to understand from just merely reading a book.

Aside from inspecting the vessel, I also got to experience the true changeable weather of the North Sea… that being the joys of high waves and seasickness!

Key learningsBesides learning about the technical aspect of the vessel, one of my key learnings was understanding the tasks the crew undertake on a daily basis combined with the possible obstacles they might face. I have gained an enormous respect for the crew. Furthermore, I believe this lesson is pivotal to enhance communication and cooperation between office and vessel – a lesson I will never forget. Thanks to Odfjell and Anglo Eastern for giving me this opportunity and a special thanks to Captain Pavan Pandey and the rest of the crew on board Bow Guardian.

A TRAINEE’S JOURNAL

Trainee Michael F. Thomsen (right) together with Captain Pavan Pandey on his first trip on board a gas carrier

The weather in the North Sea can be a challenge The voyage included an intermediate stop at the Sabic Terminal at the Teesport West Byng Jetty in port Teesport


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A seafarer’s wife’s tale - Vacation extraordinaire By Carol Jane A. Beguia

It is definitely not a cruise ship, but I am one lucky wife to be able to sail with my husband. Being in his chosen profession for a decade now, he got a chance to invite me to join their voyage. Aside from going places, which happens to be my life-long passion, seeing how his life goes, away from us, is at the top of my list. And to understand the kind of work he embraced, is way beyond my expectations.

It is, however, my fourth voyage with my spouse, so I am kind of familiar with their routinary way of living. What I am not familiar about is my husband’s newly designated position which I find more chal-lenging on his part, with more responsibility to take care of and a little less free time than the previous experiences I have had with him on his former ships. Despite the hard-pressed schedule and the weight of the job, with my naked eye, I see him managing his role and time perfectly and accurately and I could not be more proud of what he has become.

In a month-long stay on board, I aimed to get myself involved in every activity they have that I can possibly participate in. In my first two weeks, waiting for the dolphins to show up and watch from the cabin’s window them swim on their natural habitat (no whales by the way) has been my utmost pleasure. Taking selfies, pictures in and around the ship (of course, no flammable cargo on board) became a hobby as well. I also willingly tagged along with my better-half whenever he asked me to come on his duty hours both in the cargo control room and at the bridge. I put on my own cover-all, safety shoes, ear plugs and a headgear when going out to check the empty tanks, visiting the engine room and to the laboratory to test some chemicals. I was there too when they were dropping the anchor and pulling it back again. I really had fun.

I did enjoy myself a lot with these experi-ences because it is a genuine getaway for me and it is not something I do everyday. Add to the fact that I had been reunited with my husband.

To the officers and crew of Bow Saga, thank you for the warm welcome. The experi-ence and fun I had on board will never be forgotten.

I was able to get involved in many of the daily activities on board. Here from the bridge

The clown made a big impression on the kids and was great fun also for the parents

On 9 January 2016, Odfjell in Bergen organised a children’s Christmas Party to the delight of the employee’s children.Following tradition, the party was hosted at Hotel Norge in the big ball-room, a perfect place for the children to play. The enthusiastic cheering from the children indicated that the clown and Santa Claus were the highlights of the evening.

Children’s Christmas party in Bergen


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Whilst Bow Cardinal was being dry- docked in Bahrain late 2015, we used the opportunity to capture some beautiful photos of the ‘lovely lady’; fully made over and retrofitted with the new energy efficient propeller blades, rudder-bulb and technically upgraded main engine, turbo-chargers and shaft generators. A photographer was able to follow the vessel to its first stop at Sitra in Bahrain, and then from

Fujairah to Suez.

1

BOW CARDINAL

IN THE SPOTLIGHT

By Margrethe Gudbrandsen, Sr. Advisor Communication, Bergen

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1: During November 2015, Bow Cardinal was being dry-docked at the Asry Shipyard in Bahrain2: From left: 2/E Alladine Orani, Ch. Eng. Robert Cuenco, Senior TSI Mike Zhao Zhen, Capt. Angelo Barrera III, Jan Bjerkan (coating consultant, ex Senior Surveyor Material Protection retired from Odfjell), Ch.Off Edwin Hernandez and El. Off Eduardo Pallaza3: The upgrade included highly efficient Kappel propeller blades, fairing cone and rudder bulb, shaft generator gearbox and Odfjell determined settings4: Maintenance of a generator. From left: Ch. Atienza, Machinery Surveyor and 2nd Eng. Orani5: Bow Cardinal at Fujairah anchorage after loading in Al Jubail 6: The Sitra terminal in Bahrain was the first terminal Bow Cardinal stopped at for loading cargo after being launched from the shipyard7: As the new propulsion system gives a 20% reduction in fuel consumption and equivalent reduction in emissions, Bow Cardinal is now rated A+ on the RightShip’s energy scale, hence the logo is painted on during dry-dock and she can proudly enter every port for everyone to see8: Deck operation by day on anchorage in Suez9: The Suez canal is narrow and requires tugs10: Lifting anchor in Suez11: The Odfjell orange makes the images bright and strong12: Bow Cardinal is passing Al Salam bridge at Suez Canal

@ all photos credited to Thomas Kohnle

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From left: Matt Duke, Kjell Tore Midtun and Laurence Ward Odfjell the day Kjell Tore received the medal for long and faithful service to Odfjell

AWARD OF PRESTIGIOUS NORWEGIAN MEDAL FOR ‘LONG AND FAITHFUL SERVICE’ By Margrethe Gudbrandsen, Sr. Advisor Communication, Bergen

On 6 October 2015, Kjell Tore Midtun received the Norwegian medal for long and faithful service for 50 years working for Odfjell.

Not many have had the possibility to be both initiator of and witness to the amazing developments within new communications and information technology. Kjell Tore has been one of these very few people who have experienced the very rapid progress within this area. He can now look back on a career where he has been part of a team responsible for introducing new methods of communication and the effects this has had on businesses, in particular Odfjell. He has experienced first hand how the world has become smaller overnight, where rapid growth in technological communications with our vessels have transformed our business correspondence from mail and telegram to a state where correspondence is now ‘always on’.

Kjell Tore (67 years) started in Odfjell 21 January 1965 as an errand boy. At that time Odfjell was a small company of about 15-20

people in the office in Bergen. As the Company was expanding, new career opportunities arose and Kjell Tore continued in the accounts department. Here he was entrusted the responsibility for the first mini-computer in Odfjell in 1981. This spurred his interest of data and the development of ICT tools.

Loyalty to an employer for half a century is in itself an admirable and commendable achievement, but the distinct characteristic of his career is his ability to adapt to the rapidly changing arena of information technology. IT itself has matured and become an integral part of our business, and Kjell Tore has fol-lowed the progression with his own develop-ment for half a century. There will never again be the same shift from pre-computer times to the connected and ‘always on’ world we live in today. The fact that Kjell Tore has changed and re-invented himself so many times during that period is a great credit to himself and to Odfjell as a flexible and innovative employer that provided him that opportunity.

Kjell Tore has also been very active in promot-ing sport and employee well-being in Odfjell and he has been leading the local company sports team in Bergen for several years.

- I believe that Kjell Tore is deserving the ‘Medal for long and faithful service’ in recognition of his information, technology and communications service supporting and growing the great tradition of shipping in Norway for the past 50 years, and also in recognition of supporting hundreds of employees both in sport and fitness, but also as the head employee representative during the company reorganisation. He has achieved a great deal professionally and personally during his 50 years with Odfjell, said Matt Duke, VP Corporate ICT during the ceremony held in the canteen in Bergen.

We truly congratulate Kjell Tore Midtun for this admirable achievement.

PERSONNEL ODFJELL QUARTERLY MAGAZINE


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31 Filipino sailors awarded for 25 years of exceptional loyalty and service By Shiela Virtusio, Information Officer, Manila

At two awarding ceremonies in Manila, 31 seafarers were honoured for their 25 years of dedicated service to the Company: the first 16 during the Crew and Allottees Conference in Manila on 5 December 2015, and the latter 15 during the Advanced Leadership I 2016 Course Dinner on 13 January 2016.

5 December 2015 awarding ceremonyVP Maritime Personnel Section (MPS) Tore Henriksen, Odfjell in the Philippines (OiP), Vice President and Head of Crewing Agnes Enesio, and Crew Planning Manager Tess Villena presented the certificates of recognition and tokens of appreciation to the sailors.

Captain Vincent Joy Ebal delivered an acceptance speech on behalf of the awardees, thanking the Company and their families for their unwavering support, before raising a toast for Odfjell. Ms Jessica Lucas, daughter of Chief Steward Luisito Lucas, showed a touching video clip. Afterwards she gave a few words of gratitude to all the seafarers present for all their sacrifices and for their families. 13 January 2016 awardees. From left: OiP President Captain Remigio Zamora, VP - Head of Crewing Agnes Enesio,

Odfjell Academy Head Captain Marlo Salayo, 2nd Off Efren V. Nañola, 2E Kim P. Lagman, PMP Eddie C. Mahinay, MTM Ric M. Perez, 3E Allan R. Reyes, BSN Eduardo E. Castro, 2nd Off Yuri A. Dichosa, MSM Wenceslao C. Medrano, 2ndOff Carlos M. Burgos, Capt. Aquilino M. Perez, Jr., CE Nathaniel M. Olegario, CCK Alberto R. Benaro, MSM Dante B. Ayuyao, Competence Manager Fredrik Larsen, MSM Elmer A. Bernardo, MTM Daniel D. Bais and VP MPS Tore Henriksen

5 December 2015 awardees. From left: VP - Head of Crewing Agnes Enesio, VP MPS Tore Henriksen, 2E Noveli Laquian, FEE Rolando dela Cruz, 3E Ramon Rodriguez, AB Hansel Radaza, Capt. Vincent Joy Ebal, 3E Felipe Lizada, FTR Joel Panique, CE Jose Richard Pareja, MTM Joel Yap, BSN Joerey Trayfalgar, MTM Derby Pomada, MSM Arnaldo Sapungen, CST Luisito Lucas, AB Mario Alegre, Jr., Crew Planning Manager Tess Villena, MTM Jesus Bernardino and CST Orlando Ramos

VP MPS Tore Henriksen, OiP President Captain Remigio Zamora, and MPS Competence Manager Fredrik Larsen pre-sented the certificates of recognition and tokens of appreciation to the sailors.

In his opening remarks, Tore Henriksen thanked the awardees for their loyalty and dedication, especially when situations in Odfjell called for tough decisions from the management. He also acknowledged the important role the wives play in enabling the seafarers to do their job and remain loyal to the Company. Tiffany Mae Tua Solidum,

daughter of Chief Officer Renato Solidum who had also been a 25-year service awardee, delivered a speech to honour not only the sacrifices of her seafaring father but also the hard work of her mother in keeping their family intact. Captain Aquilino Perez Jr. delivered an acceptance speech on behalf of the awardees. He thanked the Company and his family as well for their unwavering support, especially during his trying times. Fredrik Larsen closed the ceremony with a sincere expression of gratitude to everyone who made the event successful.

13 January 2016 awarding ceremony


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PERSONNEL ODFJELL QUARTERLY MAGAZINE

BERGENArvid Moltubakk Senior Ship Operator 06.06.91

ROTTERDAMPetra Jansen Employee Credit Administration 01.02.91

Johan Engelsma Unit Operator 18.03.91

Bob de Bruin Technician E&I 01.01.86

Peter Schonberger Allround Operator 01.01.86

Lucas Venema Security Employee 01.01.86

Dick Bus Operations Administrator 01.05.86

Rob Stuijfzand Lead Operator PID 01.05.86

Adrie Lagerwerf Manipulation Coord / Stock administrator 01.04.81

Adrie Tazelaar Allround Operator 01.05.81

Rob Pronk Allround Operator 05.06.81

Willem van Vliet Planner 21.06.76

Svein Aage Daae Senior Ship Broker 01.02.86

HOUSTONBill Law VP Sales and Marketing OTH 22.04.91

25 YEARS

25 YEARS

30 YEARS

35 YEARS

40 YEARS

30 YEARS

25 YEARS

Ten Norwegian sailors awarded for 25 years of exceptional loyalty and service Ten Norwegian seafarers were honoured for their 25 years of dedicated service to the Company in an awarding ceremony held 21 October 2015.

The ten dedicated seafarers awarded with the gold watch were:

Captain Arne Robert HansenChief Officer Jan Kenneth HamreCaptain Anders Økland Captain Bjørn Hågensen Captain Tor Gisle Bjerknes Chief Officer Roy JohansenChief Engineer Otto ÅnnelandChief Engineer Roger Engan Pump Man Isak Pedersen

Captain Jan Nilsen

Captain Arne Robert Hansen and Chief Officer Jan Kenneth Hamre were also awarded the Norwegian Shipowners Association's Gold Medal for having served in the maritime industry for 30 years.

From left: Helge Olsen, Tor Gisle Bjerknes, Arne Robert Hansen, Otto Ånneland, Jan Nilsen, Roger Engan, Bjørn Hågensen, Isak Pedersen, Anders Økland, Jan Kenneth Hamre, Roy Johansen and Kristian Mørch

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Øistein Jensen Chief of Staff 29.02.16

Nathalia de Paulo Lima Payroll Officer 01.12.15

Trevor Keith Northage Senior Marine Superintendent 04.11.15

Steve Dillon Senior Project Engineer 01.09.15

Jehoiada Labarias Coordinator HR 14.12.15

Kwamena Benils Operator 18.01.16

Robert Kanary Operator 18.01.16

Teffy Oh Purchaser 05.10.15

Nadr Elias I&E Engineer 21.12.15

Derrick Forsythe Operator 18.01.16

Roy Naa Recruitment Officer 10.02.16

Isadore Diaz Operator 18.01.16

Subhanker Dastidar Technical Manager 16.12.15

Noralyn Alabata Lopez Manager Accounting & Financial Reporting, Region Asia 01.09.15

Ole Christian Juvkam Business Analyst 01.01.16

Cathrine Bjørkheim Administrator Payroll 15.08.15

NEW HIRES

Flavia Alexandra De Carvalho Coordinator Finance 01.12.15

Ricardo Garcia Purchasing Assistant 01.02.16

Arlene Tiangco Accounting Assistant 02.11.15

Samuel Acosta Accounting Assistant 07.12.15

Jhustine Laguerta Accountant 09.11.15

Alfred Duquiatan ICT Support Consultant 14.12.15

Alexis Aquino Accounting Assistant 02.11.15

Min Formaran Accounting Assistant 07.12.15

Robin Cole Director QHSE 26.10.15

Ace Gonzalo ICT Support Consultant 18.01.16

BERGEN FLUMAR

HOUSTON

MANILA BUENOS AIRES

MANILA

Andreas Lillejord Senior Ship Broker Dubai to Bergen01.01.16

Christer Mjelstad Ship Operator Sea to Bergen01.12.15

RELOCATIONS

Torger Trige Project Manager Project Moneyball Rotterdam to Bergen01.01.16

SINGAPORE

Nicolas Drappa Marine Accountant 01.02.16


Mikkel Lerøy Ship OperatorSea to Bergen15.02.16

Marlo Salayo Manager Odfjell Academy Sea to Manila13.10.15

Ronald Hartog Manager Technical Services 25.01.16

ROTTERDAM

Reny Ortega Instructor & Maintenance Engineer Sea to Manila05.10.15


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FLEET & TERMINALS ODFJELL QUARTERLY MAGAZINE

as per 10 March 2016 TIME CHARTERED/POOL YEAR STAINLESS NUMBER SHIP BUILT DWT CBM STEEL, CBM OF TANKS

Southern Owl 2016 26 057 27 656 27 656 26 Horin Trader 2015 19 856 22 129 22 129 18 Marex Noa 2015 12 478 14 067 14 067 16 Gion Trader 2015 19 833 22 130 22 130 18 Bow Tribute4 2014 49 622 53 188 - 22 Bow Trajectory4 2014 49 622 53 188 - 22 Chemroad Hope 2011 33 552 37 161 37 161 18 RT Star 2011 26 199 27 912 27 912 18 SG Pegasus 2011 13 086 14 523 14 523 16 Southern Koala 2010 21 290 20 008 20 008 20 Bow Tone 2009 33 625 37 974 37 974 16 Bow Hector 2009 33 694 37 384 37 384 16 Southern Ibis 2009 19 905 22 158 22 158 20 Southern Jaguar 2009 19 997 22 157 22 157 20 Bow Sagami 2008 33 641 38 000 38 000 16 Bow Kiso 2008 33 641 37 974 37 974 16 Bow Heron 2008 33 707 37 365 37 365 16 Celsius Mayfair 2007 19 999 21 714 21 714 20 Bow Fuji 2006 19 805 22 140 22 140 22 Celsius Manhattan 2006 19 807 22 143 22 143 22 Moyra 2005 19 806 22 838 22 838 18 Bow Sky1 2005 40 005 52 126 52 126 40 Bow Architect 2005 30 058 36 290 36 290 28 Celsius Monaco 2005 19 999 21 851 21 851 22 Celsius Mumbai 2005 19 993 22 186 22 186 22 Chembulk Sydney 2005 14 271 16 571 16 571 20 Celsius Miami 2005 19 991 22 192 22 192 22 Golden Top 2004 12 705 13 388 13 388 22 Bow Asia² 2004 9 901 11 088 11 088 20 Bow Singapore² 2004 9 888 11 089 11 089 20 SG Friendship5 2003 19 773 21 651 21 651 26 Kristin Knutsen 1998 19 152 19 409 19 409 34 Bow Jubail² 1996 37 499 41 488 34 209 52 Bow Mekka² 1995 37 272 41 606 34 257 52 Bow Riyad² 1995 37 221 41 492 34 213 52

Total time charter/pool: 35 896 424 986 238 857 955 828 Number of ships: 74 2 199 142 2 412 874 1 888 425 2 106

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

LPG/ETHYLENE CARRIERS OWNED

YEAR NUMBERSHIP BUILT DWT CBM TYPE OF TANKSBow Gallant 3 2 008 10 282 8 922 LPG/Ethylene 2 Bow Guardian 3 2 008 10 282 8 922 LPG/Ethylene 2

Number of ships 2 20 564 17 844 4

Bow Triumph 2015 49 622 53 188 - 22 Bow Trident 2014 49 622 53 188 - 22 Bow Pioneer 2013 75 000 86 000 - 30 Bow Nangang 2013 9 156 10 523 10 523 14 Bow Dalian 2012 9 156 10 523 10 523 14 Bow Fuling 2012 9 156 10 523 10 523 14 Bow Lind 2011 46 047 48 698 - 29 Bow Elm 2011 46 098 48 698 - 29 Flumar Brasil 2010 51 188 55 452 - 14 Bow Harmony 2008 33 619 38 052 38 052 16 Bow Saga¹ 2007 40 085 52 126 52 126 40 Bow Sirius¹ 2006 49 539 52 155 52 155 40 Bow Sea 2006 49 511 52 107 52 107 40 Bow Engineer 2006 30 086 36 274 36 274 28 Flumar Maceio 2006 19 975 21 713 21 713 22 Bow Summer 2005 49 592 52 128 52 128 40 Bow Spring 2004 39 942 52 127 52 127 40 Bow Star 2004 39 832 52 127 52 127 40 Bow Santos 2004 19 997 21 846 21 846 22 Bow Sun 2003 39 842 52 127 52 127 40 Bow Firda 2003 37 427 40 645 40 645 47 Bow Chain 2002 37 518 40 621 40 621 47 Bow Andes 2000 16 020 17 120 17 120 22 Bow Condor 2000 16 121 17 622 17 622 30 Bow Fortune 1999 37 395 40 619 40 619 47 Bow Master 1999 6 046 7 018 7 018 14 Bow Sailor 1999 6 008 7 011 7 011 14 Bow Cecil¹ 1998 37 369 40 515 33 236 47 Bow Flora 1998 37 369 40 515 33 236 47 Bow Oceanic 1997 17 460 19 616 19 616 24 Bow Cardinal ¹ 1997 37 446 41 487 34 208 52 Bow Faith 1997 37 479 41 487 34 208 52 Bow Aratu 1997 13 843 15 834 15 834 29 Bow Querida 1996 10 106 11 181 11 181 18 Bow Cedar 1996 37 455 41 488 41 488 52 Bow Atlantic 1995 17 460 19 588 19 588 24 Bow Fagus 1995 37 375 41 608 34 329 52 Bow Clipper 1995 37 221 41 596 34 328 52 Bow Flower 1994 37 221 41 492 34 213 52 Total owned 39 1 302 718 1 426 636 1 030 470 1 278

¹ Vessel beneficially owned through financial lease. ² Vessel on bareboat charter.

3 Vessel on variable time-charter pool.4 Vessel on bareboat charter booked as financial lease.5 Vessel on commercial management.


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TIME CHARTERED/POOL YEAR STAINLESS NUMBER SHIP BUILT DWT CBM STEEL, CBM OF TANKS

Southern Owl 2016 26 057 27 656 27 656 26 Horin Trader 2015 19 856 22 129 22 129 18 Marex Noa 2015 12 478 14 067 14 067 16 Gion Trader 2015 19 833 22 130 22 130 18 Bow Tribute4 2014 49 622 53 188 - 22 Bow Trajectory4 2014 49 622 53 188 - 22 Chemroad Hope 2011 33 552 37 161 37 161 18 RT Star 2011 26 199 27 912 27 912 18 SG Pegasus 2011 13 086 14 523 14 523 16 Southern Koala 2010 21 290 20 008 20 008 20 Bow Tone 2009 33 625 37 974 37 974 16 Bow Hector 2009 33 694 37 384 37 384 16 Southern Ibis 2009 19 905 22 158 22 158 20 Southern Jaguar 2009 19 997 22 157 22 157 20 Bow Sagami 2008 33 641 38 000 38 000 16 Bow Kiso 2008 33 641 37 974 37 974 16 Bow Heron 2008 33 707 37 365 37 365 16 Celsius Mayfair 2007 19 999 21 714 21 714 20 Bow Fuji 2006 19 805 22 140 22 140 22 Celsius Manhattan 2006 19 807 22 143 22 143 22 Moyra 2005 19 806 22 838 22 838 18 Bow Sky1 2005 40 005 52 126 52 126 40 Bow Architect 2005 30 058 36 290 36 290 28 Celsius Monaco 2005 19 999 21 851 21 851 22 Celsius Mumbai 2005 19 993 22 186 22 186 22 Chembulk Sydney 2005 14 271 16 571 16 571 20 Celsius Miami 2005 19 991 22 192 22 192 22 Golden Top 2004 12 705 13 388 13 388 22 Bow Asia² 2004 9 901 11 088 11 088 20 Bow Singapore² 2004 9 888 11 089 11 089 20 SG Friendship5 2003 19 773 21 651 21 651 26 Kristin Knutsen 1998 19 152 19 409 19 409 34 Bow Jubail² 1996 37 499 41 488 34 209 52 Bow Mekka² 1995 37 272 41 606 34 257 52 Bow Riyad² 1995 37 221 41 492 34 213 52

Total time charter/pool: 35 896 424 986 238 857 955 828 Number of ships: 74 2 199 142 2 412 874 1 888 425 2 106

ON ORDER:

LPG/ETHYLENE CARRIERS YARD DELIVERY CBM OWNER COMMENTS

Nantong Sinopacific Offshore & Engineering Co., Ltd 17 000 Odfjell Gas " 17 000 Odfjell Gas " 17 000 Odfjell Gas " 17 000 Odfjell Gas " 22 000 Odfjell Gas " 22 000 Odfjell Gas " 22 000 Odfjell Gas " 22 000 Odfjell Gas

Number of newbuildings: 8 156 000 STAINLESS NUMBER TANK TERMINALS LOCATION OWNERSHIP CBM STEEL, CBM OF TANKS

Odfjell Terminals (Rotterdam) BV Rotterdam, NL 51%** 1 636 135 32 550 284 Odfjell Terminals (Houston) Inc Houston, USA 51%** 379 982 113 180 119 Odfjell Terminals (Charleston) LLC Charleston, USA 51%** 79 206 - 9Odfjell Terminals (Jiangyin) Co Ltd Jiangyin, China 28.05%** 99 800 30 000 22 Odfjell Terminals (Dalian) Ltd Dalian, China 25.5%** 119 750 18 350 51 Odfjell Terminals (Korea) Co Ltd Onsan, Korea 25.5%** 313 710 15 860 85 Oiltanking Odfjell Terminal Singapore Ltd Singapore 25.5%** 402 000 13 520 82 Oiltanking Odfjell Terminal & Co. LLC Sohar, Oman 15.17%** 1 294 780 - 66 Noord Natie Terminals Antwerp, Belgium 12.75%** 348 499 50 800 240 Exir Chemical Terminals PJSCO BIK, Iran 35% 22 000 1 000 18

Total terminals 10 terminals 4 695 899 275 260 976 STAINLESS ESTIMATEDPROJECTS AND EXPANSIONS LOCATION OWNERSHIP CBM STEEL CBM COMPLETIONOdfjell Nangang Terminals (Tianjin) Co.,Ltd Tianjin, China 24.99%** 137 800 7 000 Q4 2015Odfjell Terminals (Quanzhou) Fujian Fujian, China 25.5%** 184 000 - TBD

Total expansion terminals 321 800 7 000 TANK TERMINALS STAINLESS NUMBERPARTLY OWNED BY RELATED PARTIES*) LOCATION CBM STEEL CBM OF TANKS

Depositos Quimicos Mineros S.A. Callao, Peru 52 980 1 600 43 Granel Quimica Ltda Santos I, Brazil 97 720 19 880 99 Granel Quimica Ltda Rio Grande, Brazil 61 150 2 900 32 Granel Quimica Ltda Sao Luis I, Brazil 75 700 - 35 Granel Quimica Ltda Sao Luis II, Brazil 50 000 - 14Granel Quimica Ltda Ladario, Brazil 8 050 - 6 Granel Quimica Ltda Triunfo, Brazil 12 030 - 2 Granel Quimica Ltda Teresina, Brazil 7 640 - 6 Granel Quimica Ltda Palmas, Brazil 16 710 - 12 Odfjell Terminals Tagsa S.A Buenos Aires, Argentina 38 700 530 60 Odfjell Terminals Tagsa S.A. Campana, Argentina 68 700 10 190 102 Terquim S.A. San Antonio, Chile 33 590 - 25 Terquim S.A. Mejillones, Chile 16 840 - 7 IMTT-Quebec Quebec, Canada 293 130 5 500 53 Total tank terminals partly owned by related parties 14 terminals 832 940 40 600 496

PROJECTS AND EXPANSIONS PARTLY OWNED BY RELATED PARTIES*) LOCATION CBM COMPLETION

Depositos Quimicos Mineros S.A. Callao II, Peru 17 850 - ready Q4 2015 Granel Quimica Ltda Santos II, Brazil 52 000 - ready Q4 2016

Total expansion terminals partly owned by related parties 69 850 -

Grand total (incl. related tankterminals partly owned by related parties) 24 terminals 5 528 839 315 513

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

Granel Quimica LtdaAv. Paulista 460, 18° andarCEP 01310-000 São Paulo, SPBRAZILTel: +55 11 3549 5800Fax: +55 11 3549 5832

Tagsa S.AAv. Alicia Moreau de Justo 1960,piso 4 Of. 4021107 Buenos Aires, ARGENTINATel: +54 11 4001 9700Fax: +54 11 4001 9701

Terquim S.AMolo Sur S/NP.O. Box 148, San AntonioCHILETel: +56 35 21 1050Fax: +56 35 21 1161

DQM S.AAv. Enrique Meiggs, 240Urb.Chacaritas, Callao, PERU Tel: +51 1 614 0800Fax: +51 1 614 0801

Odfjell Singapore Pte Ltd6 Shenton Way, # 27-08/09 OUE Downtown 2SINGAPORE 068809Tel: +65 6349 1300Fax: +65 6224 2285

Flumar Transportes de Quimicos e Gases LtdaAv. Paulista 460 - 18 andarCEP 01310-000 Sao Paulo SP, BRAZILTel: +55 11 3549 5800Fax: +55 11 3549 5807

Odfjell Terminals (Houston) Inc.12211 Port RoadSeabrook, TX 77586, USATel: +1 713 844 2300Fax: +1 713 844 2355

Odfjell Terminals (Charleston) LLC1003 East Montague AvenueNorth Charleston S.C 29405, USATel: +1 843 714 6300Fax: +1 843 714 6350

Odfjell Terminals (Rotterdam) BVOude Maasweg 6, P.O. Box 5010Harbour Number 4040, 3197 KJ Rotterdam-BotlekThe NETHERLANDSTel: +31 102 953 400Fax: +31 104 384 679

Odfjell Terminals Maritiem BVOude Maasweg 5, Harbour Number 4020, 3197 KJ Botlek-RotterdamThe NETHERLANDSTel: +31 10 2951 300

Noord Natie Odfjell Terminals NVHaven 227-241, Blauwe Weg 442030 Antwerp - BelgiumTel: +32 (0)3 543 99 00Fax: +32 (0)3 543 99 38

Oiltanking Odfjell Terminals & Co. LLC.P.O. Box 369, Fajal Al QabailPC 322 SULTANATE OF OMANTel: +968 2670 0300Fax: +968 2670 0306

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

Odfjell Terminals (Korea) Co, Ltd136, Cheoyong-Ri Onsan-Eup, Ulju-Gun, Ulsan 689-892, SOUTH KOREATel: +82 522 311 600Fax: +82 522 376 636

Odfjell Terminals (Dalian) LtdNew Port, Economy & TechnologyDevelopment Zone 116601, Dalian P.R. CHINATel: +86 411 8759 5500Fax: +86 411 8759 5549

Odfjell Terminals (Jiangyin) Co., Ltd1314 West Binjiang RoadShizhuang,New Harbour City, JiangyinJiangsu 214446 P.R. CHINATel: +86 510 8666 9111Fax: +86 510 8666 9110

Odfjell Nangang Terminals (Tianjin) Co., Ltd Room D310, Section D Office Building, Servicing Area, TEDA (Nan-Gang Industrial Zone) 300280 Tianjin, P.R. CHINA

Odfjell Terminals Quanzhou (Fujian) Co.,Ltd3rd Floor, Xingtong Shipping Tower, 6th Port St East, Quangang District, Quanzhou, 362800 Fujian Province, P.R. ChinaTel: +86 595 2772 8628Fax: +86 595 2772 8680

INTERNATIONAL OFFICES

Odfjell USA (Houston) Inc.13100 Space Center Blvd.Suite 600Houston, TX 77059USATel: +1 713 844 2200Fax: +1 713 844 2211

Odfjell Singapore Pte Ltd6 Shenton Way, # 27-08/09 OUE Downtown 2SINGAPORE 068809Tel: +65 6349 1300Fax: +65 6224 2285

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

Odfjell Brasil LtdaAv. Paulista 460 - 18 andarCEP 01310-000 Sao Paulo SP, BRAZILTel: +55 11 3549 5800Fax: +55 11 3549 5808

Odfjell ShanghaiSuite B, 13FHuamin Empire Plaza728 Yan An West RoadChangning DistrictShanghai 200050, P.R. CHINATel: +86 21 5239 9469Fax: +86 21 5239 9897

Odfjell Argentina SAAlicia Moreau de Justo 1960Office no. 202 - Puerto Madero1107 Buenos Aires, ARGENTINATel: +54 114 313 7837Fax: +54 114 313 4619

Odfjell Australia Pty LimitedSuite 4, Level 1443 Little Collins StreetP.O.Box 1279Melbourne VIC 3001 AUSTRALIATel: +61 3 9642 2210Fax: +61 3 9642 2214

Odfjell India408 A, Everest GrandeMahakali Caves Road, Andheri (East)Mumbai 400093, INDIATel: +91 22 6695 4701Fax: +91 22 6695 4707

Odfjell Durban (Pty) Ltd Suite 301, 2 Richefond Circle, Ridgeside Office Park Umhlanga 4065P.O.Box 4045Durban 4021, SOUTH AFRICATel.: +27 31 942 0353 Fax: +27 31 566 5296

Odfjell Tankers AS, Korea BranchRoom 1815, Gwanghwamun Officia Bldg.163 1-Ga Shinmunno, Jongno-GuSeoul, 110-999 SOUTH KOREA Tel: +82 2 775 9760Fax: +82 2 775 9761

Odfjell Korea Ltd.283, Jangsaengpogorea-roNam-guUlsan 680-050, SOUTH KOREATel: +82 52 227 5527Fax: +82 52 227 5567

Odfjell Philippines Inc.4th Flr Atlantis Beacon Tower2315 Leon Guinto St. Malate, Manila 1004PHILIPPINESTel: +6325280341Fax: +6325262256

Odfjell (UK) LtdDorset HouseRegent ParkKingston RoadLeatherhead KT22 7PLUNITED KINGDOMTel: +44 2078 230605Fax: +44 2078 230606

Odfjell Middle East DMCC Unit no. 2402, Platinum TowerJumeirah Lakes TowersP.O.Box 75450Dubai, UNITED ARAB EMIRATESTel: +971 4 426 9700Fax: +971 4 426 9701

Odfjell SE - Odfjell Tankers AS Conrad Mohrs veg 29P.O. Box 6101 Postterminalen5892 Bergen, NORWAYTel: +47 5527 0000Fax: +47 5528 4741 Fax: +47 5527 9070 (Chartering/Operations)

Odfjell Terminals BV13100 Space Center Blvd. Suite 600Houston, TX 77059, USATel: +1 713 844 2200Fax: +1 713 844 2211

Odfjell Gas ASPhilip Heymans Alle 32900 HellerupDenmarkTel: +45 45 95 00 04

REGIONAL OFFICES

TERMINALS

TANK TERMINALS PARTLY OWNED BY RELATED PARTIES

MAIN OFFICE ODFJELL MAIN OFFICE TERMINALS MAIN OFFICE GAS

www.odfjell.com

odfjell quarterly magazine march 2016

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