Parcel Tankers
Deep-sea transportation of bulk liquid chemicals, acids, edible oils and other special products is our core business. Odfjell has unprecedented experience in this complex field of transportation. Our operations are fully integrated, with in-house functions for chartering, operations and ship management. Major trade lanes are from the US and Europe to Asia, India, the Middle East and South America. In addition there is a considerable trade between the US, Europe and South America. Seagoing transport from the Middle East Region to destinations both in the East and in the West is increasing as new production capacity is being developed in this area. Over the last years there has also been a large production increase in the Far East. A considerable share of this volume goes to overseas markets.
Volumes shipped regionally are steadily increasing, particularly in the Asia Pacific region. As end-users of petrochemicals require products delivered on shorter notice and with less lead-time, the major petrochemical producers are building production complexes closer to their markets. Our largest regional operation is in Asia, where 14 ships are operated out of Singapore. Furthermore we have seven ships employed in the inter-European trade and six ships along the coasts of South America.
Odfjell’s specialized fleet consists of about 100 ships and 10 newbuildings with a total capacity of about 3.1 million dwt. A gross revenue of USD 999 million was generated in 2010.
Tank Terminals
Our terminal operations yield synergies with our transportation activities and enhance quality and efficiency control throughout the transportation chain. Our tank terminal operations also offer opportunities to develop new markets where the infrastructure for specialized bulk liquids has been limited to date. Odfjell has direct investments in partially owned tank terminals in Rotterdam, Houston Singapore, Onsan in Korea, Sohar in Oman, in Iran and three in China. Partially owned tank terminals in Charleston, South Carolina (US) and in Nangang, Tianjin (China) is under construction and will be operational respectively early 2013 and second quarter 2014. We also work closely with 11 terminals in South America and one in Canada through associated companies. Our terminal business generated a gross revenue of USD 245 million in 2010.