The chemical tanker market is highly competitive and challenging. To meet the demands of this environment, we must as a company constantly assess whether we have an optimal organizational setup and are efficiently structured from a commercial, operational, financial and regulatory perspective.
Over the past years, the business situation in Japan has changed and we are now seeing in a lower demand for local services. This is projected to be a long-term transition, and it has become increasingly difficult to maintain a sustainable operation of the Tokyo office. The end conclusion is to close the office and dissolve Odfjell Japan Ltd.
Our Tokyo office has supported our customers in the area with world-class services for about 30 years. We deeply regret the consequences this office closure has for our three experienced and loyal colleagues. They are being followed up individually to ensure as good a transition as possible in the coming phase.
Please do not hesitate to reach out to Harald Fotland, CEO, or Bjørn Hammer, Global Head of Tanker Trading, or your line manager should you have any questions.
