Investor Presentaiton
3
Floating storage
Orderbook to fleet
ratio
2
Swing tonnage
100%
80%
60%
40%
20%
0%
Mill dwt
jan-17
feb-17
mar-17
25
20
15
10
5
0
Dec-19
Jan-20
Kdwt
600
400
200
0
Jan-97
Sep-97
The supply side continues to look strong, with reduced swing tonnage, a limited
orderbook and generally a low appetite for new orders
1
800
12M rolling new orders
Historical average
Comments
apr-17
May-98
mai-17
Jan-99
jun-17
Sep-99
jul-17
May-00
aug-17
Jan-01
sep-17
okt-17
Sep-01
nov-17
May-02
des-17
Jan-03
jan-18
feb-18
Sep-03
mar-18
May-04
apr-18
mai-18
jun-18
jul-18
aug-18
sep-18
okt-18
nov-18
des-18|
jan-19
feb-19
mar-19
apr-19
mai-19
jun-19
jul-19
Trading chemicals/Vegoil
Trading CPP/Crude
Jan-05
Sep-05
May-06
Jan-07
Sep-07
May-08
Jan-09
Sep-09
May-10
Jan-11
Sep-11
May-12
Jan-13
Sep-13
May-14
Product tankers
% share of fleet
Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20
13
Odfjell at a glance
Odfjell Tankers
Odfjell Terminals
Capital Allocation
Summary
Jan-15
Sep-15
May-16
Jan-17
Sep-17
May-18
aug-19
sep-19
Oct-19
nov-19
Dec-19
jan-20
feb-20
mar-20
apr-20
mai-20
jun-20
jul-20
0%
Nov-20
5%
10%
Jan-19
Sep-19
May-20
✪ The orderbook to fleet ratio for chemical tankers
remains close to all-time low of 5.6%
Uncertainty surrounding new future propulsion
system and environmental regulations keeps
reducing the orderbook....
Low supply growth the next years is encouraging
19,6% 20,7%
aug-20
sep-20
✪ Swing tonnage players has reduced its exposure
in the chemical/Vegoil market so far in 2020
⚫ We are experiencing increased competition from
swing players in the Middle East especially
We therefore expect some increased swing
tonnage into our markets, but not to the same
extent as seen in 2018/19
Share of fleet
The CPP market is currently weak and adds risk
for increased swing tonnage going forward
> The vast majority of floating storage of CPP has
been unwinded...
0 ...
... A recovery in demand to improve utilisation of
the product tanker fleet is key to avoid
accelerated competition in chemicals/vegoilsView entire presentation