Odfjell SE - Chemical Tanker Industry Update

3 1 27% 21% 25% Orderbook share of 16% 15% 17% 20% total tanker fleet 13% 8% 8% 1996 With normalized demand growth the next three years, the deviation versus supply growth is expected to remain at similar levels due to slower supply growth 1997 1998 1999 2000 2001 2002 2 Age distribution tanker fleet (Mdwt) 13% of existing fleet current chemical Newbuilding orders as a share of existing fleet 1991 1996 1997 1998 1999 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 26% 43% 43% 44% 32% 28% 18% 2003 2004 2005 2006 2007 2008 2009 2010 36% of existing fleet 2004 2005 2006 2007 2008 17% 12% 13% 14% 12% 11% 8% 9% 5% 6% 7% 9% 4% 4% 2001 28% 2002 2003 2004 2005 2006 2007 2008 2009 2010 22 27 20% 12% 13% 14% O Product tanker orderbook share: 7.4% 14% 12% 12% 7% O Chemical tanker orderbook share: 4.5% 2009 2011 2010 2012 2011 2013 2012 2014 2013 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 O Crude tanker orderbook share: 7.6 % A larger share of the chemical tanker fleet to become less competitive and less compliant with future regulations in the coming years 2% 6% 5% 4% 1% 2011 3% 3% 2012 0 2013 2014 2015 2016 2017 10% 8% 6% 2018 ST 2019 2020 Newbuilding orders remains non-existent for chemical tankers Newbuilding activity for crude and product tanker also muted New regulations a likely hurdle to avoid larger newbuilding orders in the near-term...

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