Odfjell

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Odfjell SE
Type Public (OSE: ODF)
Industry Shipping
Headquarters Bergen, Norway
Key people Jan A. Hammer (CEO)
Revenue USD 1,239 million (2007)
Operating income Increase USD 204 million (2007)
Net income Increase USD (10) million (2007)
Website www.odfjell.com

Odfjell is a Norwegian shipping company operating seven tank terminals and 96 parcel tankers. The company has its headquarters in Bergen, Norway and is listed on Oslo Stock Exchange.

History

Odfjell was originally established as a conventional shipowner in 1914. The first tanker appeared shortly before World War 2. In 1983 the first tank terminal was opened in Houston, Texas. By 2007, this had increased to seven terminals. In 1986 the company became listed on Oslo Stock Exchange.

Incidents and safety issues

Odfjell is one of the largest terminal operators in the Port of Rotterdam. Over the past years many complaints, mostly relating to safety issues, were made against the company. This resulted in several formal warnings and penalty payments from the local government. On 20 July 2012 the company was ordered to close 5 of its storage tanks due to the lack of cooling- and fire-fighting facilities.[1] Later they had to close another 50 storage tanks due to safety concerns. According to sources some tanks hadn't been inspected for over 30 years.[2][3]

At the end of July 2012, the company's operation in Rotterdam was fully shut down on behalf of inspection authorities. After paying a fine of 800 000 EUR and a number of improvements, the company was allowed to resume operations again, but only for approximately one-third of its capacity. On 31 July 2012 the shipping company fired its CEO in the Netherlands.[4]

In July 2013 it was disclosed that the company had hidden a major leak of thousands of liters of methanol that occurred in October 2009.[5]
And 2013 again a number of incidents occurred at the Odfjell facilities in Rotterdam.[6]

Sources

  1. ↑ Newswebsite nu.nl: Controversial tank-storage company partially closed down, 20 July 2012
  2. ↑ Odjfjell press-release: Safety shutdown and recoveryplan Terminals Rotterdam, 27 July 2012. Visited: 1 August 2012
  3. ↑ Dutchnews: Odfjell closes down more tanks, 26 July 2012. Visited: 29 July 2012
  4. ↑ Odjfjell pressrelease: Change of managing Director Rotterdam, 31 July 2012
  5. ↑ http://www.trouw.nl/tr/nl/4504/Economie/article/detail/3484202/2013/07/30/Nieuwe-aangifte-tegen-Odfjell-om-verzwijgen-grote-lekkage.dhtml
  6. ↑ http://www.trouw.nl/tr/nl/4492/Nederland/article/detail/3474599/2013/07/12/Odfjell-weer-de-fout-in.dhtml
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