Odfjell News

Wind propulsion company bound4blue has completed the installation of two suction sails on a newbuild vessel for Klaveness Combination Carriers (KCC).The two 24-metre eSAILs were installed on the MV Baltazar at New Yangzi Shipbuilding in China, with the vessel expected to begin operations in the third quarter of 2026.The project marks the company’s first installation of suction sails manufactured locally in China and is among the early applications of the technology on combination carriers.“This is a landmark project in many respects.

bound4blue and Eastern Pacific Shipping (EPS) have completed the second installation of eSAILs in EPS’ fleet, fitting three 22-meter-high units on MR tanker Pacific Sunstone at New Times Shipbuilding in Jiangsu Province, China. The project marks EPS’ first newbuild installation following a successful retrofit project on Pacific Sentinel.With smaller footprints than other solutions, eSAILs generate lift up to seven times greater than conventional rigid sails of the same size. The units are also non-ATEX…

Odfjell SE has reported preliminary full-year and fourth-quarter 2025 results, delivering what the company calls a resilient financial result that demonstrates a robust business model.“The fourth quarter concluded a year dominated by significant uncertainty and more challenging market conditions. The 2025 result is a testament to the strength of our business model, the breath of our contract portfolio, and the relentless focus on safety and efficiency across the organization.

Wind propulsion specialist bound4blue has completed the first installation under its agreement with Maersk Tankers, fitting four 24-meter eSAIL suction sails on the medium-range tanker Maersk Trieste as part of a wider fleet retrofit program.The installation marks the first phase of a contract agreed in December 2024 covering 20 eSAIL units across five Maersk Tankers MR vessels, representing bound4blue’s largest order to date.The four eSAIL units were installed at EDR Shipyard in Belgium following preparatory work carried out at Yiu Lian Shipyard in Shenzhen, China.

bound4blue and Amasus Shipping have completed the installation of a 22-meter eSAIL on the general cargo vessel Fluvius Tavy at Astander Shipyard in Santander, Spain. The project marks the companies’ second installation, reinforcing both the scalability of suction sail technology and the growing confidence of shipowners in wind propulsion as a mainstream decarbonization solution.The latest adoption of bound4blue’s autonomous suction sails follows a previous installation on board Amasus’ Eems Traveller…

bound4blue, a leader in wind propulsion systems, has closed a $44 million funding round backed by leading maritime corporates, ship owning families, climate-focused investors and government capital. The round was led by OCTAVE Capital, an investment platform affiliated with major shipowner: IMC, and Katapult Ocean. The round brings together new investors including Motion Ventures, Odfjell family office and ReOcean Fund, led by the Prince Albert II of Monaco Foundation and Monaco Asset Management…

Wind propulsion company bound4blue has expanded its industrial footprint in Asia with the establishment of new production capabilities in China, alongside the signing of strategic regional partnerships to accelerate adoption of its proven eSAIL® suction sail technology.This allows bound4blue to manufacture near the yards where their systems will be integrated, both for newbuildings and for vessels calling in Asia for retrofit.Production in China will be handled through a network of outsourced industrial partners with strong naval and offshore manufacturing capabilities.

Odfjell SE and Japan’s Nissen Kaiun Co., Ltd. have formed a new Bergen-based joint venture, Odfjell Hakata Maritime AS, marking a significant expansion of their long-standing partnership and adding substantial capacity to the global chemical tanker market.The JV will launch with a fleet of 10 stainless-steel chemical tankers, equally contributed by the two companies. Nine of the vessels are already operating under Odfjell Tankers via existing charter agreements, while the tenth is set to join the fleet in early December.

bound4blue has underlined the business case for adopting eSAIL wind propulsion technology, with today’s release of BVS assessed operational fuel savings on the Louis Dreyfus Armateurs (LDA) owned Ville de Bordeaux Ro-Ro.The vessel, chartered by Airbus, had three 22-meter bound4blue suction sail units installed in 2024. BVS assessed the savings over a year, showing an average daily fuel saving of 1.7 metric tons, with peak savings of as much as 5.4 metric tons per day.These savings…

As the shipping world prepares to descend on Oslo for Nor’ Shipping 2025, we take a look at the Norwegian fleet which is currently valued at USD 66.2 bn using VesselsValue data. The following charts highlight the Norwegian fleet breakdown by vessel type, top Norwegian companies, S&P transactions, and the breakdown of dual fuel orders by sector. Thanks to government-backed initiatives such as Enova, who offer financial support to facilitate the green transition, Norway is ahead of the game in sustainability when compared to the rest of the world.

Wage talks involving some 7,500 oil drilling workers in Norway broke down on Wednesday, employers and three labour unions said, raising the risk of strike action later this year that could disrupt exploration.The talks between the Norwegian Shipowners' Association (NSA) and the Safe, Styrke and DSO labour unions will resume at a later unknown date with a state-appointed mediator."Unfortunately it was not possible to reach an agreement," NSA lead negotiator Geir Sjoeberg said in a statement.Under Norway's tightly regulated collective bargaining system…

Norwegian shipowners agree: the obsession with new fuels is eliding a valuable discussion of the potential of fuel efficiency. The Aurora-class has enabled Höegh Autoliners to reduce emissions by around 58% per car carried, “before we even use low carbon fuels,” CEO Andreas Enger said. “The debate between energy efficiency and the fuel transition, we consider to be irrelevant and pretty stupid,” he said. “It’s a no-brainer for a shipowner to do everything they can to reduce fuel consumption.“Fuel efficiency itself will yield substantial improvements…

Odfjell SE has reported its results for the first quarter of 2025, showing a resilient financial result despite the increased market uncertainty due to the initial U.S. trade tariffs announcement.The Odfjell Group is one of the leading players in the global market for seaborne transportation and storage of chemicals and other specialty bulk liquids.Time charter earnings ended at $168 million, compared to $183 million in 4Q24. TCE/day for the quarter was $29,556, down 4% compared to $30,744 in 4Q24.EBIT was $54 million compared to $68 million in 4Q24.The quarterly net result was $34 million.

Odfjell’s chemical tanker Bow Olympus is currently crossing the Atlantic powered by a combination of wind-assisted propulsion and a certified sustainable 100% biofuel, marking the company’s first near carbon-neutral transatlantic voyage.Real-time data from the voyage confirms that the dual propulsion approach is both technically feasible and impactful, as the vessel’s GHG emissions on the current voyage meet the 2050 Fuel EU Maritime GHG intensity targets and IMO’s GFI Direct…

bound4blue and Odfjell have partnered to complete the first installation of a wind propulsion system for the chemical tanker specialist, with four of bound4blue’s eSAILs retrofitted on the 49’k dwt Bow OlympusThe 22-meter-tall suction sails will help the advanced vessel achieve significant fuel savings, unlocking commercial, environmental and regulatory advantage. A tailored two-step installation process was deployed to accommodate the vessel’s schedule, with the installation completed in just two days.Firstly…

Norwegian tanker company Odfjell has reported its results for the preliminary full-year and fourth quarter of 2024 indicating a record strong year.The company has continued to perform well in the final quarter of the year despite a slightly softer market. It delivered a solid financial result in line with Q4 2023 but below record levels from the last three quarters. Time charter earnings ended at $183 million, compared to $202 million in Q3 2024.The company’s quarterly net result adjusted for one-off items was $53 million compared to $71 million in Q3 2024.During the quarter…

bound4blue, a leader in maritime’s Wind Assisted Propulsion Systems (WAPS) segment, appointed Daniel Mann as Chief Commercial Officer (CCO). He joins the team after four years as VP Business Development at Silverstream Technologies, and more than 25 years supporting and growing various maritime and energy businesses worldwide, which includes a decade at Rolls-Royce Marine, plus five years at Siemens, and more than two years at MAN Energy Solutions.In his new position Mann will…

Odfjell has initiated a deployment of Syroco’s weather routing platform on two of its vessels, the Bow Olympus and Bow Optima.The two vessels are part of Odfjell’s Hudong-class chemical tankers, flying the Norwegian flag. Both built in 2019, the 183 meter vessels are each equipped with 33 stainless steel tanks and operate primarily on trans-Pacific routes.In early 2025, the Bow Olympus will be fitted with four eSAILs, bound4blue’s suction sails. As an add-on to optimise the sails' effects…

ECOsubsea launched its Ultra High Efficiency Hull Cleaning Service (UHEHCS) in Singapore, introducing its new ROV. According to the company, tests showed the ROV operates 10 times faster than conventional cleaning methods. "We cleaned a fully laden capesize vessel, with an 18-m draft, in just four hours," said ECOsubsea CEO Tor Østervold.Golden Ocean’s Head of Global Operations, Tord Brath, said: "ECOsubsea’s ROV demonstrated impressive speeds and enhanced safety with minimal human intervention.

Amasus has signed a fresh eSAIL (suction sail) contract with Spain’s bound4blue. Under the new agreement, a 22-meter unit will be retrofitted on a 90-meter, 3,000 dwt vessel at Astander Shipyard in Santander, scheduled for mid-2025. The installation will set a new benchmark as the largest suction sail system on a general cargo vessel.Amasus sealed the deal with bound4blue after assessing the impact of its first suction sails on Eems Traveller, which has been sailing with two 17-meter eSAILs since July 2023.

Esgian highlights that operators in Norway are preparing new wells for Odfjell Drilling, COSL and Saipem semisubs in its Week 41 Rig Analytics Market Roundup.Report SummaryContractsShelf Drilling has secured new contracts for its 350-ft jackups Shelf Drilling Achiever and Adriatic I offshore Nigeria.Drilling Activity and DiscoveriesThe Norwegian Environment Agency (Miljødirektoratet) has received an application from Aker BP for permission under the Pollution Act to drill the delineation well 25/1-14 Omega Alfa in the North Sea…

Becker Marine Systems introduced two new products at SMM which are designed to optimise vessel hydrodynamic performance: the Becker Daggerboard and the Becker Steering Gear.The Becker Daggerboard is an anti-leeway fin designed for ships equipped with modern wind- assisted propulsion systems (WAPS). When using WAPS, the desired thrust ahead components drive the ship. Depending on the wind direction, there can also be stronger or weaker lateral force components leading to leeway from the desired course.

Esgian provides an update on new contract awards for Greatship, Transocean, Noble and Stena Drilling in its Week 36 Rig Analytics Market Roundup.Report SummaryContractsGreatship has secured a contract with Cairn for its 350-ft Greatdrill Chetna jackup drilling rig in India. The contract is firm for six months at a dayrate of approximately $90,000, starting in late November or early December 2024.Transocean has secured a binding letter of award from Reliance Industries for its 6th generation 12…