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ESG report: Social

In 2018, we presented our approach and sustainability strategy in the document 'Global Operations – Our Responsibility'. For the 2020 ESG reporting, we follow the guidance of the Norwegian Shipowners' Association and the SASB framework. The climate risk assessment follows the TCFD guidance, and the reporting is in line with the Euronext ESG reporting guidance. The ESG report has three parts Environment, Social and Governance (incl. SASB Activity metrics).

We also report emissions to the EU MRV, the IMO DCS, the CDP, and the Poseidon Principles. We annually present Communication of Progress to the UN Global Compact and also report sustainability data to EcoVadis. Our sustainability strategy and documentation are published on 


Topics Accounting metric Unit Ref
Accidents, Safety, and Labor Rights
Lost Time Incident Frequency (LTIF)

At Odfjell, we have a goal of zero accidents and incidents. We monitor and track all Lost Time Injuries (LTIs), Restricted Work Cases (RWC), Medical Treatment Cases (MTC) and First Aid Cases (FAC). Management and the organization have incentive KPIs related to LTIF.

LTIF for shipping is calculated as lost time incidents * 1,000,000) / number of Exposure Hours.

LTIF for terminals is calculated as lost time incidents * 200,000) / number of Working Hours. 

For 2020 LTIF for our managed fleet is 0.21.

We have reduced LTIF by 76% since 2019 (0.89).

For 2020 LTIF for Terminals consolidated is 0. We have reduced LTIF by 100% since 2019 (0,51).

SASB TR-MT-320a.1 GRI 403-9


Safety is more than a priority at Odfjell. It is a core value and part of our license to operate. We are relentless about ensuring the safety of our employees and surrounding communities by improving the way we operate as a company. We continually review personal protective equipment to find the best for our employees, so that they can safely perform their tasks. We strive to ensure our employees do things the right way, and only the right way. We continuously develop and monitor our safety training, and we do not compromise on safety.

For all operations, we conduct safety hazard identification and safety risk assessment to ensure that all risks are mitigated, and to ensure the safety of our people and the environment.

Odfjell has dedicated emergency preparedness policy procedures and systems, a dedicated contingency/operations room, and we conduct regular training and exercises with the Emergency Response Management Team (ERMT).

Odfjell has implemented safety standards in accordance with the requirements of the flag state of vessels and Odfjell's policies.

To raise awareness and employee involvement, Odfjell has implemented a minimum target of safety observation rounds (SOR) per employee, per month at our terminals. 

Total Recordable Case Frequency for our managed fleet is 1.16 in 2020. This is an improvement of 31% since 2019 (1.68).

Two LTI cases in month of December 2020. Both cases were eye injury due to exposure during routine tasks.
A safety campaign on the subject will be released 1H 2021.


Diversity, Equity & Inclusion

Odfjell promotes diversity, equity and inclusion (see Diversity & Inclusion at Odfjell), and equal opportunities for our employees. We believe that recruiting from a wide talent pool, increasing diversity, and creating an inclusive organization adds business value.

In 2019, we implemented a policy to actively improve gender diversity in Odfjell, which is now bearing fruit.

We have taken steps to collaborate with industry networks in driving the diversity agenda, as we believe that this is a missed opportunity in our industry today. We support offshore career initiatives and recruiting initiatives to drive gender balance. We have a goal to increase the ratio of females in leadership positions and to improve the gender balance at all levels.

In 2020, we have set a diversity target of having a minimum 30% gender balance at all levels by 2030 in our shipping shore-based organization. We aim to be an attractive and engaging place to work for our employees, today and in the future.

We aspire to build a learning organization where our employees understand how they fit in to the larger picture, are motivated to contribute and empowered to perform well. Such an organization requires strong people managers and a working environment that is physically and psychologically safe. Odfjell offers a variety of exciting jobs that provide opportunities for growth and development around the world.

Odfjell has entered the Ernst & Young SHE index for Norway for the first time with 2020 data and will report diversity status and progression under this reporting framework. Our ranking for 2020 confirms the need for stuctured and long-term efforts.

Odfjell follows up the requirements of the Norwegian Equality and Anti-Discrimination Act §26 . Odfjell Management AS’ analysis, actions and reporting for 2020 are made available under this reporting framework and in our annual report. As per regulations, Group <5 are not represented.

At our headquarters in Bergen, Norway, the employees are 68% male and 32% female. (71/29% in 2019)

Corresponding shore-based global figures are 66% and 34%. (67/33% in 2019)

At our headquarters, 50% of our new hires in 2019 and 2020 were women.

50% of Directors of the Board of Odfjell SE are women.

All four members of the Executive Management are men.

At our headquarters in Bergen, Norway:
On average, men took 8 weeks staturory paid parental leave and women took 15 weeks.

Temporary and part-time employees not represented (fewer than 5 for each group)

SHE Index ranking: 71 out of 92 participating companies in Norway.

GRI 405-1
SDG 10

Labor Rights

Odfjell is a signatory to the UN Global Compact and supports all the ten principles. Principles 3 to 6 concern labor rights.

Odfjell supports freedom of association and, in line with local norms and regulations, adheres to various collective bargaining agreements for elements of our workforce. Odfjell has established work councils with employee representatives and local management.

Odfjell complies with the Maritime Labor Convention (MLC), and all our vessels are externally audited and carry a certificate of compliance with the MLC.

Odfjell has no people < 18 years working or living at sites.

MLC, 2006
GRI 102-41

Human Rights

Human rights actions are managed by our Human Rights Management System, and policies are reflected in several of Odfjell's policies and reporting, such as our human rights policy and Communication of Progress (COP) to the UN. We also expect the same from our suppliers, who must sign our Suppliers Code of Conduct principles and which also covers human rights. Odfjell expects suppliers to support and respect the protection of internationally proclaimed human rights and to ensure that they are not complicit in human rights abuses or child labor.

Human rights and child labor are a part of the integrity risk assessments that are conducted by Odfjell. This assessment is also presented to the Board of Directors. We implement mitigating actions where needed, in line with the UN Guiding Principles on Business and Human Rights and the ILO conventions on child labor.

In our reviews and risk assessment, we score the risk of direct non-compliance with the regulation on human rights and child labor as low.

Odfjell cooperates with the Rafto Foundation for Human Rights to continuously develop and improve our policies and best practice on human rights, and we also support the development of Ship Lifecycle Principles with the Rafto Foundation, Institute for Human Rights and Business, and the Danish Institute for Human Rights.

Our policies on human rights are in line with the new law proposals on ethics information in Norway as presented in Norway (August 2020).

Due to Covid-19, there have been no on-site audits of suppliers with regards to human rights. 

No ethical incidents or legal actions required in 2020.

GRI 412
GRI 408
SDG 16

ILO Maritime Labour Convention (MLC), International Maritime Organisation (IMO) Conventions,
UN Convention on the Law of the Sea (UNCLOS),
Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and their Disposal, UNGP OECD Guidance

Working Hours

Odfjell has a policy on working hours, but due to our global presence, this will differ from country to country depending on local regulations.

The policies are built into our HR systems to ensure overtime and/or extra time is calculated, monitored, compensated and to ensure that it is compliant with local regulation.

Work and rest hours on board are regulated under ILO MLC regulations. Any violations of work/rest are reported and monitored, and records are audited. 

MLC 2006 ML 2.3

Port State Control (PSC)

PSC is the inspection of foreign ships in national ports to verify that the condition of the ship and its equipment comply with the requirements of international regulations and that the ship is manned and operated in compliance with these rules.

Management and organization in Odfjell have incentives with KPIs related to Port State Control (PSC) findings.

In 2020, Odfjell had 0.66 findings per PSC inspection (0.77 in 2019).

We had one detention of one managed vessel in 2020 in Bilbao due to an error on Auto Start of Emergency Generator.

SASB TR-MT-540a.3 SDG 8
SDG 14

Marine casualities

Odfjell defines a marine casualty in accordance with the UN IMO's Code of International Standards and Recommended Practices for a Safety Investigation into a Marine Casualty or Marine Incident, MSC resolution 255(84).

On January 14, 2020, the vessel Bow Fortune made contact with a fishing boat in the Galveston Bay entrance. At the time of the incident, Bow Fortune was inbound and under pilotage as the first vessel in a convoy. There was heavy fog in the area at the time.

Tragically, three crew members of the fishing boat lost their lives when their boat capsized after it made contact with Bow Fortune. For more information, see here.

One incident in which an Odfjell vessel, in an inbound convoy to Houston, collided with a fishing vessel.

SASB TR-MT-540a.1 SDG 8

Process Safety Terminals

Odfjell follows the reporting guidelines and practices of the American Petroleum Institute (API) Recommended Practice (RP) 754, Process Safety Performance Indicators for the Refining and Petrochemical Industries. Tier 1 and 2 include LOPC (see more on page 124).

On December 12, 2020, our terminal in Houston experienced a fire in the building housing its hydraulic power unit. Thanks to the quick and effective response from Odfjell's Emergency Response Team and local fire department, the fire was under control within 30 minutes and extinguished within three hours. There were no injuries, no impact to storage tanks nor loss of containment of any products stored at the terminal. For further information, see page 23.

Tier 1 and 2 events in 2020 were 6 compared to 11 in 2019

API RP 754

Last updated 08.12.2021