Through various events on and off stage, three key subjects stood out at the heart of the buzz this year: Digitalization – Diversity – Decarbonization. The buzz included a solid optimism and a common drive that everyone, the maritime industry and regulators alike, need to speed up in all of these areas, together.
Pushing especially for more ambitious targets on decarbonization, CSO Øistein Jensen highlighted from the Blue Talks session on fuel that:
“We must examine fuel and emissions holistically, considering the fuel's life-cycle emissions. Green energy will be required to produce a well-to-wake, zero-emission fuel, but it will be a scarce factor for many years ahead. In the meantime, we will continue investing in available technology to reduce emissions on our existing vessels. There’s much that can be done while we wait for the optimal fuel solution.”
He underlined that Odfjell is fuel-agnostic and that our pledge is that our next newbuild will be zero-emission capable.
Digital Ship’s one-day forum focused on advances in how the shipping industry is using maritime digital technology. VP Corporate IT Alena Pedersen shared her views at the opening panel debate, and her message was clearly supported by the audience:
“To advance digitalization maturity of the companies, we need to focus on more than just technology. We need to:
Clearly integrate digitalization into the business strategy
Make sure to onboard everyone involved and continuously develop a digital mindset and ways of working
CSO Øistein Jensen also took part in the WISTA Waves of Change seminar discussing “The critical role of finance in driving sustainable change in the maritime industry”. Øistein took the opportunity to join in the encouragement to regulators to accelerate the progress:
“It is critical that revenue from a market-based measure, such as the EU ETS, is returned to the industry to drive the green transition. This is a great opportunity for flag states and the EU to accelerate the transition of shipping.”
VP Corporate Analysis & IR Nils Jørgen Selvik was on stage at the Marine Money seminar on the chemical tanker market: ‘Despite a decline in trade volumes, the chemical tanker market has enjoyed high earnings, firming asset values and a tightness in supply that is a result of external forces, namely the CPP market. And in these ever-changing times, where is it best to invest?’
“Although we have seen some softening in the markets so far in 2023 as the global economy continues to deal with high inflation, rising interest rates and slowing growth, market fundamentals remain solid on the back of a historically low orderbook for new vessels both in the chemical tanker and product tanker segments. Product tankers are also expected to continue to have limited presence in the chemical space as the effects of displaced Russian cargo are likely to persist. As such, Odfjell with no imminent need for fleet investments, and a front runner on energy efficiency, is well positioned in the coming years.”
- Nils Jørgen Selvik
Our ambitious climate targets and progress are getting noticed, with the latest 50% milestone as a new confirmation that Odfjell walks the talk. DNV took the opportunity to highlight this achievement at Nor-Shipping by issuing a certification and verification and congratulating us with “demonstrating a proactive approach to emissions reduction”.
As per tradition, the US Embassy hosted the AMVER awards, recognizing the Norwegian shipowners, crews and operators for their commitment to safety by being available to assist in rescue activities anywhere in the world. Technical Manager Bernt Lie-Berland accepted the 2023 award on behalf of Odfjell.
Partnerships and collaborations are often highlighted as the key to success, and Nor-Shipping was no exception: The event was brimming with industry news and releases about new contracts and future plans between suppliers and partners.
For Odfjell, Kongsberg Maritime released news that will take us another step forward in our digitalization journey, while AlfaLaval announced that Odfjell has chosen their OceanGlide solution as one of our many initiatives toward decarbonization.
These were just two of multiple partnerships that were nurtured during the week through meetings, events, status updates and discussions between Odfjell’ers and our international network of partners, suppliers and industry friends.
Nor-Shipping attracts just about all of Odfjell’s major suppliers from around the world, so the week in Oslo is a hectic but efficient meeting marathon, especially for our traveling Ship Management and Procurement teams.
Among the social gatherings was the reception for the 75-year anniversary of Norway and Philippines’ bilateral relations, where dignitaries from the two countries welcomed representatives from the maritime industry to an evening of celebration.
