OTK has demonstrated its industry-leading operations and safety record over many years. The E5 expansion underscores Odfjell’s strong conviction and commitment to further consolidate OTK’s position as a regional leader. The project is a great example of Odfjell Terminal’s growth strategy, centered around creating resilient, long-term value for our customers and shareholders.

We are pleased to announce these agreements as they further strengthen our fleet composition and serve as a confirmation of our growth ambitions. The collaboration between the shipbuilders, suppliers and our team has resulted in tailored vessels that are sustainable, efficient and cost-effective. This approach allows us to continue to deliver exceptional services to our customers and optimize our operations without compromising our commitment to sustainability. We introduce modern and sophisticated tonnage in a capital-efficient way.

The suction sail project with bound4blue marks another leap in our dedication to decarbonization. As the first tanker company to test the suction-sail technology, we demonstrate our innovative capabilities and dedication to a more sustainable shipping sector. We all have a responsibility to use as few resources as possible, and Odfjell’s long-time efforts in energy efficiency have significantly reduced our fleet’s emissions. The work continues, and we look forward to documenting further improvements with the installation of suction sails.

We are pleased to have an internal candidate take over the helm at Odfjell. The appointment was made after a process including external and internal candidates. Harald has excelled at leading innovative and transformative projects during his time at the Company. He has the expertise and experience to ensure continuity and progress, and to further strengthen Odfjell’s industry leadership.

I am excited and honored to take on the position as CEO of Odfjell. Since 2015, I have had the privilege to take part in growing and transforming Odfjell into the world’s largest deep-sea operator with the most energy efficient chemical tanker fleet in the world. The Odfjell platform and the fundamentals of our industry are the strongest we have seen for many years, and I look forward to harvesting from the solid preparations made by the Odfjell team over several years. We have an impressive global team and are on a solid path of progress. My core task will be to ensure that we continue to provide world-class services in shipping and at our terminals – safely, sustainably, and more efficiently than anyone else in the industry.

Kristian has led Odfjell through seven intense years of transformation.  Under his leadership, Odfjell has made significant progress and as a company, we are in a much better place today than we were in 2015. The Board would like to express our gratitude for his contributions over these years, and we value his commitment to ensuring an orderly process to find his successor.

It has been a privilege to lead the highly professional and dedicated Odfjell team during the past seven years, and I am proud of what we have achieved during this turnaround period. Odfjell is today standing on a very strong competitive platform and is well-positioned to take advantage of the opportunities ahead of us, so it is now the right time for the company to identify who will be leading Odfjell into the future.

The chemical tanker market was strong in the eastern hemisphere, but continued supply disruptions in the west (in particular the US) remain a challenge. Fundamental demand is high, which supports our positive outlook. The exit from Gas and from the short-sea trade in Asia concludes the streamlining of our deep-sea platform. There are signs of improvements in our markets, but it will take time for a recovery to materialize and we therefore expect the underlying results in 4Q21 to be in line with 3Q21.

Norway is one of the world’s leading maritime nations, and we are the world’s fourth-largest shipping nation. To maintain and strengthen the role as a shipping nation globally, we must take the lead lead, raise the bar, and move the boundaries for what is possible. To succeed, the industry depends on being an attractive place to work for young talent. Odfjell has, for several years, worked systematically to recruit young talent to the company. They have hired a considerable number more talent than they actually need, to help give as many as possible a start on their maritime career.

We are very happy to be awarded GREEN4SEA’s Tanker Operator Award, and we are especially pleased with the award because it is based on a recognition of our sustainability efforts. We are proud of the results we have delivered so far, and I accept this award on behalf of the entire Odfjell organization on board our ships, at our terminals and in our offices worldwide. It is a true team effort to secure safe operations at sea and ashore, and also to find new, and more sustainable solutions. We have come a long way already, but we also know that we have big challenges ahead of us to achieve our target of becoming climate neutral by 2050. We greatly appreciate the recognition GREEN4SEA shows for our work by nominating us, and the endorsement shown by every one who voted for us.

“This is an important milestone for our terminal portfolio in the US, as it positions the company to expand its terminal footprint in Houston, one of the strongest growth areas and key hubs for petrochemicals in the world. The financing ensures that OTUS can embark on accretive growth opportunities and remain self-funded. We are also pleased to conclude attractive bank financing, from existing and new lenders, at a time of financial turmoil and consider this a testament to the strong outlook for the US terminals”.