Tank Terminals

Odfjell has eight fully or partly owned terminals at strategic locations around the world. In addition we cooperate closely with eight associated terminals in South America plus one in Canada (IMTT Quebec). In total, our tank terminal network now employs more than 1 000 people and offers more than 3.0 million cbm of storage space in over 1 000 tanks in 17 ports around the world. This makes us one of the world-leaders in offering both shipping and storage services.

We have a strategy of expanding the tank terminal activities along Odfjell’s major shipping lanes. We also focus on important ports in newly industrialized countries, in order to enhance the development of chemical markets. In addition to being profitable investments on a stand-alone basis, our tank terminals also play an important operational role as part of our cargo-consolidation programs with the purpose to reduce the time our ships spend in port. Commercially, the combination of shipping and tank terminals gives Odfjell a unique position to offer increased safety, reliability and efficiency to our customers. We experience that the demand for cargo-consolidation has steadily increased as a result of the industry’s ongoing pursuit of improving efficiency in the supply chain.

Odfjell Terminals (Houston) LP - Houston, USA (OTH)

Houston is the major international hub for import and export of chemicals in the US. Our terminal in Houston was built by Odfjell in 1983, and since the mid 1990’s has been through a considerable expansion period. The capacity, including the ongoing construction of six additional tanks of totally 49 300 cbm, has gradually increased with the market over the years. The expansions have improved the profitability through a better utilization of already existing and costly infrastructure.

Following the completion of the ongoing expansion the tank terminal will have 98 tanks ranging from 340 cbm to 9 500 cbm and have a total capacity of about 320 000 cbm. The tank terminal comprises the largest stainless steel storage capacity of any privately owned tank terminal in the world, in total 82 000 cbm.

The facilities' unused land and existing infrastructure still provide opportunities for further expansion, with potential storage capacity of totally around 125 000 cbm in the existing area.
Odfjell Terminals (Houston) is the hub for Odfjell's global and regional trades to and from the US Gulf. The realisation of synergies has been prioritised and the Company's joint transportation and storage contracts have helped in this respect.

Odfjell Terminals (Rotterdam) BV – Rotterdam, the Netherlands (OTR)

Located at the heart of the Rotterdam harbor, the most important chemical distribution centre in Europe, Odfjell Terminals (Rotterdam) including ongoing expansion pro-jects has a total storage capacity of about 1 635 000 cbm, and around 300 storage tanks. OTR is one of the largest facilities of its kind in the world. The tank terminal stores both chemicals and mineral oil products. The chemical
storage capacity is 810 000 cbm, while the mineral oil capacity is about 825 000 cbm. Part of the storage capacity can be shifted from one segment to another. This provides us a great flexibility and diversifies commercial risk.

In addition to the storage business, the facility has an industrial distillation plant, Odfjell Petrochemical Industrial Distillation (PID). Odfjell PID retains a large market share of the independent product distillation market in North West
Europe. In 2008 a new state of the art unit became operational, bringing the number of distillation columns to four. The new column is a high vacuum tower, able to efficiently cope with chemicals and mineral oil products with high boiling points. Odfjell PID’s total distillation capacity is 700 000 mtons per annum. Odfjell PID makes use of OTR’s infrastructure and is fully integrated.

The tank terminal has excellent infrastructure, with four berths for seagoing ships and 12 berths for barges. A major project for refurbishment and reconstruction of two new jetties including a barge dock is ongoing at OTR. In 2008 we commissioned the reconstructed deep sea Jetty 10 and we took two new barge docks into service. During first semester 2009 the new 460 meter quay wall for deep-sea tankers will also be operational. The terminal also has extensive facilities for the handling of trucks, rail cars and ISO-containers. The site has its own water treatment plant that also serves third parties.

The facility is already one of the most important docking facilities for Odfjell in the Rotterdam-Antwerp area, and our goal is still to make it the primary hub for our global trade to and from Europe.

Effective January 2008, OTR took over AVR–Van Gansewinkel, the next door so-called Harbour Receiving Unit. The business, renamed Odfjell Terminals Maritiem BV, has become an integrated part of OTR, and provides the terminal access to extra berths.

Oiltanking Odfjell Terminal Singapore Pte Ltd – Singapore (OOTS)

As one of the busiest ports in the world, Singapore plays a major role for distribution of petrochemicals in South East Asia. Singapore also has a high concentration of refinery capacity as well as a large and diversified chemical production. Further growth is secured through its prime location, good infrastructure and a stable economy and government. Oiltanking Odfjell Terminal Singapore is located on Jurong Island, where most of Singapore’s development of petrochemical industry is concentrated.

The tank terminal, which became operational in 2001, has a total capacity of 213 000 cbm in 51 tanks, ranging from 800 cbm to 18 000 cbm. The stainless steel capacity is 13 520 cbm. More than 100 000 cbm of the capacity is committed on long-term contracts.

Also at OOTS in Singapore we have ongoing expansions; a total of 152 000 cbm (28 tanks) for chemicals. In addition, a bunkering facility which comprises three tanks totaling
13 000 cbm has been successfully commissioned. With access to additional land, the tank terminal can eventually grow to about 500 000 cbm. In addition to the two modern ship berths, and access to another two berths, OOTS is currently expanding marine facilities with another berth for ships up to 45 000 dwt.

The flexible storage and transfer services offered by the terminal, along with excellent marine facilities create a good basis for Odfjell to develop a hub for the global and regional shipping services in South East Asia.

The tank terminal is a 50/50 joint venture between Odfjell and Oiltanking.

Oiltanking Odfjell Terminals & Co L.L.C - Sohar, Oman (OOT)

Sohar Industrial Port is strategically located in Oman outside the Strait of Hormuz only a few hours driving from the petrochemical industry in UAE and Saudi Arabia. The port is hosting a refinery and several world scale petrochemical complexes under construction. This development is driven by the desire of the Sultanate of Oman to exploit the
nation`s gas reserves and create a strong "value-added process economy" as opposed to an energy export economy.

OOT has the exclusive right to manage six liquid berths and provide bulk liquid storage within Sohar Industrial Port. Based on the requirements of the captive industry in Sohar and a strong market for storage of mineral oils, OOT has embarked on construction of in total 841 500 cbm of tankage for chemicals and oil products. Odfjell holds 30% of the shareholding in OOT. The company is jointly managed by Odfjell and Oiltanking and had 537 000 cbm operational by the end of 2008. The remaining capacity under construction will be commissioned for operation during Q2 2009.

Odfjell Terminals (Korea) Co Ltd – Onsan, Korea (OTK)

Odfjell Terminals (Korea) is strategically located in the most important petrochemical distribution and transshipment hub in North East Asia. Odfjell is one of the largest carriers of bulk liquid chemicals in and out of Korea with a significant number of port calls and transshipment operations in the region. The tank terminal became operational in 2002.

The tank terminal has 64 tanks with a total storage capacity of 171 000 cbm. Also here we have an ongoing expansion that will add additional 79 920 cbm (eight tanks), and the terminal still has ample land for future expansions. The terminal owns and operates two berths with user rights to another two berths.

Odfjell Terminals (Dalian) Ltd - Dalian, China (OTD)

Odfjell Terminals (Dalian) was relocated during 2007 from its old location to New Port in Xingang. In combination with the relocation the terminal has increased its capacity to
120 000 cbm. From its start in 1998, the development of the tank terminal’s business has been very positive, and the terminal has delivered strong performance with the expanding petrochemical activity in the North East. Odfjell has a 50% stake and Dalian Port Co., Ltd. (50%) is the other shareholder in the company.

Odfjell Terminals (Jiangyin) Co Ltd – Jiangyin, China (OTJ)

Odfjell Terminals (Jiangyin) Co. Ltd is located in Jiangyin Economic Development Zone on the south bank of the Yangtze River, approximately 150 km west of Shanghai and 12 hours by ship from the entrance of Yangtze River. The 22 tanks / 99 800 cbm terminal, became operational late 2007 and handles numerous different types of petrochemicals from ships, barges and trucks. The impressive jetty has three berths (625 m), which can handle ships up to 50 000 dwt and two additional berths for barges. OTJ has signed an agreement to acquire additional 160 000 m2 land for future expansion. Odfjell (55%) owns OTJ together with Garson Group (45%).

VOPAK TERMINAL NINGBO LTD, CHINA

This tank terminal started operations in 1994. Located close to Shanghai, Ningbo is a key port for importing chemicals to the central east coast of China. The terminal serves ships, barges, rail cars and trucks and currently has a capacity of about 63 500 cbm. Odfjell has a 12.5% stake in the tank terminal, with the other partners being Vopak, Helm AG and the Port Authorities.

Associated Tank Terminals, South America

Odfjell’s involvement with tank terminals started in South America, where the first terminal became operational in Buenos Aires in 1969. Today, it consists of eight chemical tank terminals spread along the coasts of Brazil, Argentina, Chile and Peru, with a strong market position for chemical storage in the region. The Odfjell family owns these terminals privately, their operational headquarter being in Sao Paulo. The four Brazilian tank terminals are located in Santos, Rio Grande, São Luís and Corumba. In Argentina, they have two tank terminals, one in Buenos Aires and the other, a state-of-the-art terminal in Campana, about 80 km upriver from Buenos Aires. The Chilean tank terminal is located in San Antonio. The latest addition is a highly sophisticated chemical tank terminal in Callao, Peru.