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Odfjell ASA (ID: 1117)
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Odfjell ASA Odfjell's global business is firmly anchored in the transportation and storage of chemicals. Odfjell is a leading company in the global market for transporting chemicals and other speciality liquids as well as related logistical services. Originally set up in 1916, the company pioneered the development of the chemical tanker trade in the middle of the 1950s and the chemical tank storage business in the late 1960s. Odfjell owns and operates chemical tankers, tank terminals and tank containers. The strategy is to continue developing our position as a leading logistic service provider to the chemical industry. We shall maintain that position through efficient and safe operation of deep-sea and regional chemical tankers, tank terminals and tank containers. Scale is needed to offer an efficient trading pattern in a global business environment, thereby maximising fleet utilisation. Our size also allows us to optimize purchasing benefits. Global Trade The global transportation of chemicals and other liquids is our core business and as one of few operators we provide a worldwide service. Our operations are fully integrated, with dedicated functions for ship management, operation and chartering. Odfjell currently operates a substantial share of the world global chemical tanker fleet. Our fleet consists of 59 ships and 7 newbuildings with a total capacity of about 2.3 million dwt. and generated a turnover of USD 592 million in 2002. Regional Trade Odfjell has 28 ships with a total capacity of 312 000 dwt. dedicated to regional trade. Fourteen ships are currently operating in the US Gulf, the Caribbean and along the east and west coast of South America. In Asia, fourteen ships are operated out of Singapore. The objectives are to serve the growing regional markets and to ensure more efficient fleet utilisation through our transhipment activities. Regional trade generated a turnover of USD 119 million in 2002. Tank Terminals Odfjell has direct investments in wholly owned tank terminals in Rotterdam and Houston as well as partially owned terminals in Singapore, Onsan in Korea, and two in China. We also work closely with six terminals in South America through associated companies. Terminal operation brings substantial synergies with our transportation activities and improves quality control throughout the transport chain. Our tank terminal operations also offer opportunities to develop new markets where the infrastructure for carrying chemicals to date has been limited. Our terminal business generated a turnover of USD 96 million in 2002. Tank Containers Odfjell transports chemicals and liquids in tank containers through Hoyer-Odfjell which is a joint venture company. Having started operations in 1999, the company serves the global market and plays an important role in Odfjell's broad range of integrated transportation services. The tank container operation is still under development and our fleet of tank containers consists of about 5 600 units. Our share of the turnover was USD 39 million in 2002. Hoyer-Odfjell B.V Our tank container activity is organised through Hoyer-Odfjell whose business is handling of chemicals and other liquids in tank containers. The company has been in operation for four years and has become an important player in this market. Through Hoyer-Odfjell we are able to offer our customers more integrated and cost-efficient transport solutions for their smaller parcels. Tank containers are primarily being used for transportation of chemicals and liquids in small quantities and to locations with limited infrastructure. The tank container business is attended to by a joint venture with Hoyer GmbH in Germany. Hoyer-Odfjell s head office is in Rotterdam, but the tank container business is based on a network of branch offices, as well as agencies in other countries. The activities in the branch offices have, as far as practically possible, been integrated with Odfjell s existing activities. The purpose of this is to co-ordinate the marketing, making it easier for us as a supplier of logistic services to provide our customers with integrated and cost-effective transport solutions. The main goal of Hoyer-Odfjell has been to expand and become global, thereby achieving economies of scale. Substantial investments in personnel, organisation and equipment have thus been made in the company. The number of tank containers has increased from 2 600 to about 5 600 since start-up four years ago and further expansions are planned. Future growth in demand for tank container services is expected to be considerable, with a large potential being Asia and Latin America. Odfjell ASA