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Odfjell News

13 Mar 2024

Equinor Extends Drilling Contracts

Photo: Arne Reidar Mortensen / Equinor

Equinor, on behalf of the partners, is exercising two options to extend contracts with Archer AS, KCA Deutag Drilling Norway AS and Odfjell Operations AS for a total of four years.The options for drilling services on fixed installations on the Norwegian continental shelf provide jobs for 2,000 people per year and have an estimated value of NOK 18.4 billion.The contracts were signed in 2018 with three option periods of two years. The first two-year option was exercised in 2022.

10 Mar 2024

Norway Offers $193 Million Funding to Arctic Floating Wind Farm Project

Š Marc Dyck / Adobe Stock

A floating offshore wind farm planned in Arctic waters on Friday received 2 billion Norwegian crowns ($193 million) in state funding, with Norway viewing the still costly technology as a key contributor for industry development and emission cuts.The GoliatVind project in the Barents Sea, consisting of five 15 megawatts turbines and seeking to supply power to the Arctic town of Hammerfest, beat out six other applicants in a tender by government agency Enova.Norway hopes that floating offshore wind will provide an industrial future for its offshore supply industry as well as a means of cutting e

04 Mar 2024

Odfjell Completes Terminal Expansion in Houston

(Photo: Odfjell Terminals US)

Odfjell Terminals US (OTUS) reports it has completed the construction and commissioning of its Bay 13 at the Houston Terminal (OTH), adding nine new tanks, with a combined capacity of 204,000 barrels. The new tanks are a combination of stainless steel and carbon steel, and each tank has been engineered with positive pressure systems and full automation, Odfjell said. The newly commissioned bay is specifically designed for the storage needs of specialty chemical products, the company added."As we continue to invest in our assets…

17 Dec 2023

Esgian: Rigs on the Move in Asia and Europe

Source: OMV

This week Esgian’s Week 50 Rig Analytics Market Roundup notes developments in the semisub sector including that Shell has decided to exercise its option on Stena Don in the North Sea but not on Deepsea Bollsta in Namibia. Meanwhile, a new contract for the Transocean Barents will see it operate in the Black Sea, and jackup Shelf Drilling Perseverance will move to Vietnam.ContractsShelf Drilling has secured a contract award for the 400ft Shelf Drilling Perseverance jackup rig with PetroVietnam Domestic Exploration Production Operating Company Limited (PVEP POC).

07 Dec 2023

Japan's Kansai Joins Floating Offshore Wind Project in Norway

Image courtesy Source Galileo and Odfjell Oceanwind

Galileo and Odfjell Oceanwind are collaborating with Vår Energi on a floating offshore wind project at the Goliat platform outside Hammerfest in Norway. The partnership has been strengthened with The Kansai Electric Power Company Inc., a Japanese utility company, joining the team.The offshore wind park will be connected to the Goliat platform using the existing power cable to shore. The purpose of the project is to demonstrate floating offshore wind technology in Norway, as well…

13 Nov 2023

Odfjell Announces Deals to Add Six Newbuilds

(File photo: Hudong-Zhonghua Shipyard)

Norwegian shipping company Odfjell SE announced it is expanding its fleet with six newbuildings through a combination of long-term time charter and pool agreements with Japanese shipowners and shipyards.This increases the total to twelve 25,000 - 40,000 dwt stainless steel vessels to be delivered on long-term time charters and pool agreements between 2024 and 2027.The series of newbuildings will be built at multiple shipyards in Japan and are scheduled to be delivered from 1H2026 to 1H2027.

05 Oct 2023

Japanese Shipping Giant Buys Into Norwegian Floating Wind Firm

Credit: Odfjell OceanWind

Japanese shipping giant Mitsui O.S.K. Lines, Ltd. (MOL) has, following a recent private placement, become a shareholder in Odfjell Oceanwind, a Norwegian floating wind technology developer."The transaction generates significant capital which will be used to further strengthening Odfjell Oceanwind’s position as a global leader and frontrunner in floating offshore wind technologies. Odfjell Technology Ltd. combined with the Odfjell family’s direct investment will remain the largest shareholder in the company…

29 Sep 2023

Sustainable Shipping: Alma Clean Power, Odfjell, and DNV to Deploy Innovative Solid Oxide Fuel Cell on Chemical Tanker

Bernt Skeie (CEO, Alma Clean Power), Laurence Odfjell (Styreleder i Odfjell SE), Cristina Saenz de Santa Maria (Regional Manager DNV – Maritime, Sør-Øst Asia, Stillehavet & India), Eivind S. Homme, Norway’s ambassador to Singapore. - Image supplied

Alma Clean Power, Odfjell, and DNV have this week announced a new milestone in the development of a solid oxide fuel cell (SOFC) system.The fuel cell system will be installed on a chemical tanker by the end of 2024, aiming to demonstrate the potential for significantly lower fuel consumption and CO2 emissions for deep-sea shipping, the trio said at an event in Singapore."As the maritime industry faces major challenges adjusting to zero emissions over the next decades, fuel cells demonstrate a promising potential for scalable use for longer distances and larger energy needs in shipping.

20 Sep 2023

Portugal and Norway Team Up on Floating Offshore Wind

Source: Norwegian Offshore Wind

The Portuguese cluster Forum Oceano and Norwegian Offshore Wind have signed a Memorandum of Understanding (MoU) to strengthen collaboration between the supply chains in the two countries.The MoU aims to lay the ground work for new contracts between companies from the two countries.The agreement was signed at a reception this week, during a visit to Portugal organized by Norwegian Offshore Wind and The Norwegian Embassy in Portugal.Forum Oceano and Norwegian Offshore Wind both focus on developing a strong supply chain in floating offshore wind.

17 Aug 2023

Odfjell to Install Suction Sails on a Chemical Tanker

(Image: Odfjell)

Odfjell announced it will install bound4blue's eSAIL wind-assisted propulsion technology system on a chemical tanker, making it the first tanker vessel in the world to harness this groundbreaking technology.bound4blue’s eSAIL system utilizes a wind-assisted propulsion system known as a suction sail to reduce fuel consumption and emissions."Since 2020, we have been studying sail technologies as a potential energy efficiency measure for our fleet, and we are excited to now take the next step by partnering with bound4blue to implement their pioneering eSAIL system on one of our chemical tankers…

18 Jul 2023

World’s First Methanol-fueled Containership Bunkers in Korea

(Image: Odfjell Terminals Korea)

Maersk's first-of-its-kind methanol dual-fuel containership made history on July 16 when it became the first to bunker methanol.The newly built vessel bunkered 1,000 metric tonnes of the cleaner burning fuel at Odfjell Terminals Korea in Ulsan  before embarking on its 21,500-kilometer maiden voyage toward Copenhagen, where she will be officially named in September.“This journey is an important step in our efforts to reach net zero greenhouse gas emissions by 2040, as it will allow…

11 Jul 2023

Odfjell Promotes First Female Captain

Lise Henriksen (Photo: Odfjell)

Odfjell announced it has promoted its first female captain in the history of the 109-year-old company. The Norwegian chemical tanker company said Lise Henriksen has been named captain of the Bow Sky."On behalf of Odfjell, I congratulate Lise on her well-deserved promotion and thank her for paving the way for women in the maritime industry,” said Odfjell  CEO Harald Fotland. "Her expertise and leadership abilities have led her to this prestigious role – a historic appointment at Odfjell and in an international maritime field currently dominated by men.

07 Jun 2023

Odfjell to Install Alfa Laval's Air Lubrication System on Tanker

Source: Alfa Laval

Odfjell Ship Management has selected Alfa Laval’s OceanGlide fluidic air lubrication system for installation on one of their tankers later this year.OceanGlide is newly acquired technology for Alfa Laval. The patented and class-approved system utilizes fluidic oscillators to generate an even layer of micro air bubbles across a vessel’s entire flat bottom, reducing friction and drag and therefore fuel consumption and CO2 emissions. The fluidic technology creates streamlined sections on the vessel’s flat bottom, each with its own fluidic band that generates bubbles.

31 Oct 2022

Marlink Helps Drive Odfjell’s Digital Strategy

Image courtesy Odfjell

Marlink signed an agreement with Odfjell Management AS to provide seamless access to global enterprise and crew applications across 52 vessels. The contract includes 43 vessels managed by Odfjell Management Norway and another nine operated by Thome Management Singapore. Marlink will deploy its hybrid connectivity solution to the fleet, including high throughput VSAT, L-band and 4G services using software-defined routing (SD-WAN) for seamless, intelligent data flow via Marlink’s…

02 May 2022

Odfjell SE Names New CEO

Harald Fotland - Credit: Odfjell SE

Norwegian shipping firm Odfjell SE has appointed Harald Fotland as its new Chief Executive Officer (CEO). Fotland comes from the position as Odfjell's Chief Operating Officer, and will assume the CEO position on May 6, 2022."We are pleased to have an internal candidate take over the helm at Odfjell. The appointment was made after a process including external and internal candidates. Harald has excelled at leading innovative and transformative projects during his time at the Company.

14 Mar 2022

Odfjell CEO Kristian Mørch to Step Down

Kristian Mørch (Photo: Odfjell)

Kristian Mørch, CEO of Norway-based shipping group Odfjell, has informed the company's board of directors that he will step down after seven years in the role.The board has initiated a process to identify the next CEO, and Mørch will continue in his current role until his successor is in place. Russell Reynolds Associates in Oslo has been engaged as an advisor in the process.Chair of the board, Laurence Odfjell, said, "Kristian has led Odfjell through seven intense years of transformation.

22 Feb 2022

DNV Grants AiP for Odfjell Oceanwind's Floating Wind Foundation Designed for up to 15MW Turbines

 The Deepsea Semi floating wind foundation design has been developed for use in floating wind farms and for off-grid applications including temporary electrification of oil and gas installations in harsh environments. ŠDNV

Classification society and assurance provider DNV has awarded Odfjell Oceanwind an Approval in Principle (AiP) for its new Deepsea Semi floating wind foundation design. The Deepsea Semi floating wind foundation design has been developed for use in floating wind farms and for off-grid applications including temporary electrification of oil and gas installations in harsh environments.The Deepsea Semi foundation is dimensioned for up to 15MW wind turbine generators and has been developed for low-cost, industrial mass-production.

03 Jan 2022

Offshore Windservice's New CTV Delivered

(Photo: Oma Baatbyggeri)

Norwegian shipbuilder Oma Baatbyggeri handed over its third vessel to the Danish shipping company Offshore Windservice AS at the beginning of November.Designed and developed in collaboration with Odfjell Wind AS in Bergen, the aluminum newbuild FOB Swath 10 is a 32-meter-long and 11.5-meter-wide crew transfer vessel (CTV) built for transporting service personnel for offshore wind turbines.Equipped with interceptors and fin stabilizers are supplied by Humphree AB, the vessel can operate both in catamaran mode or in Small Waterline Area Twin (SWATH) mode.In SWATH mode…

29 Dec 2021

Odfjell Builds New Tank Bay at Odfjell Terminal Houston

Photo courtesy Odfjell

Odfjell is constructing a new tank bay at Odfjell Terminal Houston (OTH), continuing to expand and invest in its terminals platform to support ongoing regional growth in the chemical industry.The company is investing in and expanding its terminals platform with the addition of a new, modern, automated tank bay. Bay 13 at Odfjell Terminals Houston (OTH) will increase capacity by approximately 9% to 413,400 cubic meters (cbm). The expansion project is consistent with OTH's strategy…

02 Nov 2021

Odfjell Sells Its Last Short-sea Vessels

Norwegian shipowner Odfjell SE said it has sold off the last of its short-sea chemical tankers as it sharpens its focus on larger ships in the deep sea segment.The company announced Tuesday it has entered into a sales agreement for the last three 9,000 dwt short-sea vessels—Bow Fuling, Bow Dalian and Bow Nangang—that have operated in the company’s regional Asian trade. The sale marks an exit from Odfjell’s short-sea regional trade in Asia as the remaining vessel on a time charter to Odfjell will also be redelivered to its owners in January 2022."These vessels have not been able to deliver satisfactory results and we have consequently taken the decision to exit this niche market," the company said in a press release.

19 Oct 2021

Shipping Industry Faces ESG Heat From Lenders

Š Photo Gallery / Adobe Stock

Banks are demanding much stricter environmental criteria when financing shipping companies as investor pressure grows on the sector to accelerate going greener, according to Boston Consulting Group (BCG).Shipping, which transports about 90% of world trade, accounts for nearly 3% of the world's CO2 emissions and BCG forecast the industry will need $2.4 trillion to achieve net-zero emissions by 2050."ESG-driven requests are already prompting more action from banks. Shipping is already feeling it and they (shipping companies) are under pressure now…

21 Jun 2021

Odfjell’s WindGrid Floating Wind System Passes Milestone, Aims to Help O&G cut Emissions

Rendering of the WindGrid™ system in operation. Image care of Odfjell Oceanwind.

DNV completed a concept verification review of Odfjell Oceanwind’s WindGrid (WindGrid) system for Mobile Offshore Wind Units (MOWUs). DNV’s review confirms the technical feasibility of the WindGrid system, and that expected reductions in CO2-emissions for North Sea applications are in the range of 60-70%, compared to generation of electricity from conventional gas turbines.Odfjell’s WindGrid is a solution for providing an uninterrupted power supply from Mobile Offshore Wind Units (MOWUs) to micro-grids.

16 Aug 2021

Odfjell Completes Exit from Gas Carrier Segment

On August 16, 2021, Odfjell Gas Shipowning AS, a subsidiary 100% owned by Odfjell SE, entered into a transaction agreement with BW Epic Kosan Ltd. (BWEK) for the sale of two liquefied petroleum gas (LPG)/ethylene carriers, Bow Guardian and Bow Gallant, both built in Korea in 2008.The purchase price will be settled partly in cash, to be used for the full repayment of mortgaged loans on the vessels, and partly by the issuance of 6,889,611 freely transferable shares in BWEK. Following the transaction, Odfjell will own 4.3% of the shares in BWEK.The transaction is expected to close prior to October 31, 2021. Pursuant to the transaction agreement…