Odfjell SE - Chemical Tanker Industry Update
Introduction
Strategy update
ESG
Capital Allocation
Tank Terminals
Covid-19 has been a disruptive factor testing the strength of our platform - We
have so far been largely unaffected by challenges created by covid-19
1
Global platform
2 Ship Management
DEIL
3
COA coverage
Adaptable TC fleet
TC-in vessels
Pool vessels
58% 60%
60
56%
53%
30
50%
51%
50
25
40
20
15
30
ODFJEL
10
20
5
10
0
0
2015 2016 2017 2018 2019 2020
4Q-1Q-2Q-3Q-4Q-1Q-2Q-3Q-4Q-1Q-mai-
17 18 18 18 18 19 19 19 19 20 20
5
Cargo flexibility
Crude tanker
Producttanker
Chemical tanker
Crude
CPP Vegoil Organic Inorganic
No presence
Swing product
Target product
O Global operations with vessels
in all main ports at all times
O Local knowledge from 15
offices worldwide
In-house ship management for
part of our fleet
Deep knowledge of our vessels
that can be monitored remotely
High enough to give protection
from weaker markets...
...Low enough to target
cargoes with best returns
OTC vessels switched by pools
and further TCs can be redelivered
O Pool vessels gives Odfjell zero
downside and exposure to upside
Carries 600 different products
per year...
O Can swing into various products
if economics are stronger
160
Odfjell earnings, ODFIX
140
Odfjell relative performance:
Chemical tanker spot earnings index (midcycle = 100)
120
100
80
60
2008
2009
Source: Odfjell, Clarksons Platou Securities
2010
2011
2012
2013
2014
4
2015
2016
2017
2018
2019
2020View entire presentation