Dear colleagues,
2018 is coming to an end. It has been a challenging year for us as a team, and for our company. It is the year when we lost an esteemed colleague, an event that overshadowed everything else. It is the year when one of our vessels was involved in a serious incident in Rotterdam, and it is the year where the market for chemical tanker hit its lowest point in 15 years.
The way you have handled this challenging year makes me even more confident that the Odfjell global team, onshore and aboard, truly is second to none.
Thanks to your efforts and dedication, we have made it through – and not only have we pulled through, but we have also accomplished a lot:
- We have done more vessel transfers than ever before. Each transition is a complex operation that involves many people from different departments, and all transfers have been done successfully.
- Our fleet renewal process is progressing rapidly, with the launch of the first Hudong newbuilding as one of many highlights. When the renewal process is completed, Odfjell will have one of the world’s most sophisticated and eco-friendly fleets.
- Odfjell Tankers has won new, major contracts which strengthen our positions in important trades.
- We started the year by reorganizing parts of our organization. We introduced the COO role, and many of our colleagues got new responsibilities and positions. This builds integration and cooperation between departments and locations.
- The terminals have had very good results on safety and performance indicators.
- We have sold OTR and have restructured our Terminal organization. This will allow for a new partner to step in and replace Lindsay Goldberg who will do a planned exit. We have increased our ownership in the Noord Natie Odfjell Terminals in Antwerp. This gives us a stronger foothold in Europe’s most important chemical port. Odfjell Terminals BV (OTBV) is now a 100% Odfjell SE controlled holding company. We are committed to our Terminal business, and look forward to taking benefits of the synergies with our shipping business.
- We are rapidly introducing new digital tools and workflows that help improve our efficiency, communications, and overall operational performance in all sections.
These are only a small selection of milestones reached in 2018. There are numerous examples of individual and team efforts that show true world-class. This is all due to your competence and hard work.
Even on the toughest days, I feel lucky to come to work, and I am proud to be part of the Odfjell team. It is reassuring to know that we can count on you regardless of the challenges that face us.
Our core is strong, and we are well prepared and positioned for the future. We continue to believe that the turning point for our markets will come soon. Whether we are right remains to be seen, but we will maintain our focus on operational excellence and customer service. Our key priorities for 2019 are:
- Safety. This year has shown us how vital it is to never compromise on safety. Safety is not about ourselves alone, it is about how we care for each other, how we work together as a team and how we plan and carry out the daily operations. Safety is and should always be our number one priority!
- Continued growth and operational excellence – including preparations for IMO 2020.
- Customer commitment. We are committed to generating value for our customers, by offering safe and reliable services, at a competitive cost.
- Continue restructuring of Odfjell Terminals following the Lindsay Goldberg exit, and utilize synergies between tankers and terminals.
- Further build organizational and financial strength.
I look forward to working together with you in reaching new milestones in 2019. I thank every one of you for a job well done this year, and wish you and your families all the best for the upcoming holidays.
Thank you, and stay safe,
Kristian Mørch
CEO
