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ERRIA<br />
Contents<br />
Keeping up the good work............................................................... 2<br />
Financial result of 2009 ................................................................... 2<br />
Chemical market - taking a positive view......................................... 3<br />
ERRIA MARIA 3 year bareboat charter in Argentina........................ 4<br />
Crew list as per end of March 2010 ................................................. 6<br />
Karsten Bundgard turns 60 ............................................................. 8<br />
Planned succession in the Board of Directors ................................. 8<br />
Vietnam and Saigon Shipping J/S Company are gearing up ........... 9<br />
New assignment for ERRIA Consulting ........................................ 10<br />
M/T ERRIA MIE through the ice .................................................... 11<br />
Fleet List ....................................................................................... 12<br />
Editor’s notes ................................................................................ 12<br />
March 2010<br />
No. 30<br />
M/T ERRIA MARIA in Copenhagen at sunrise<br />
- ready for a 3 year chartering contract landed through ERRIA teamwork
Keeping up the good work<br />
by Henrik N. Andersen, Managing Director, Erria A/S<br />
With joint efforts from employees, shareholders and our lenders,<br />
we have created a solid platform to turn ERRIA when we hopefully<br />
get through the current - and unprecedented - global crisis.<br />
Last year was significantly worse than expected - especially when<br />
it came to earnings. Significantly lower demand in the transport of<br />
especially containers resulted in the lay-up of several container<br />
ships and that eroded much of the great savings obtained and<br />
put pressure on our liquidity.<br />
I am sure that with the expectation of rising freight rates, planned<br />
realisation of selected financial and tangible assets as well as<br />
continuing to work closely with the 2 main banks we have secured<br />
the liquidity preparedness for 2010.<br />
I know that it is hard to maintain motivation in these times when<br />
all our services are provided by individuals and not by ships<br />
alone. Everything suggests, however, that all employees are doing<br />
a great job for our customers and shareholders which I am<br />
incredibly proud of!<br />
So keep up the good work - there is light ahead.<br />
Financial result of 2009<br />
by Henrik B. Funk, Director Business and Strategy Development, Erria A/S<br />
The Erria Group has maintained the per 30 June, 2009 announced<br />
90.7 mDKK write-downs of the ships in the financial<br />
statements per 31 December, 2009.<br />
Net profit of the primary operation was -151,813 tDKK (2008:<br />
-15,017 tDKK), which is consistent with the expectations announced<br />
in the interim report dated 30 September, 2009. Year<br />
total income was -155,573 tDKK (2008: -24,612 tDKK).<br />
Henrik B. Funk<br />
2<br />
Henrik N. Andersen<br />
Three of the four segments (Chartering, Ship Management and<br />
Consulting) contributed with 9.9 mDKK in operating profit and<br />
total income.<br />
The fourth segment, “Shipowner Activities / Investment”, is in<br />
2009 influenced by said write-downs in the ships and the lower<br />
freight rates.<br />
The Group’s equity represents 123,726 tDKK against 287,267<br />
tDKK in 2008 and the solvency ratio was 24 in 2009 versus 48<br />
in 2008.<br />
Expectations for 2010<br />
2010 will also be a difficult year for the shipping market. The first<br />
months of 2010, however, give a particular focus on the optimistic<br />
prospects of chemical tankers.<br />
Due to increasing volume of new orders, the segments Chartering,<br />
Ship Management and especially Consulting are expected,<br />
to continue the positive earnings during 2010.<br />
In view of the operating budget for 2010 with the expectation of<br />
rising freight rates, planned realization of selected financial and<br />
tangible assets as well as continuing to work closely with the 2<br />
main banks, it is our firm opinion that our liquidity contingency will<br />
be sufficient to fund the ongoing capital needs during the year.<br />
ERRIA NEWS No. 30 March 2010
Chemical market - taking a positive view<br />
by Kenneth Jan Madsen, Commercial Director , Erria A/S<br />
As of 1 January, 2010, IBEX is operating a modern fleet of 23<br />
chemical tankers in the range of 3,000-17,000 TDW. All the tonnage<br />
is modern double hull, mainly marine line coated with IGS<br />
fitted. There are still some units to be delivered during 2010/11,<br />
but due to the present financial situation, it is uncertain how many.<br />
During 2009, market conditions were extremely difficult not only<br />
for our trade, but for most of the transport sector. A lot of tonnage<br />
have fixed contracts or timecharter rates, which do not even<br />
cover the running costs of the vessel or the OPEX. Twice during<br />
2009, there were indications that the market would increase but<br />
both times it went down again, and at the end of the year it was<br />
at the lowest ever seen. In general, however, there is optimism<br />
in the market. We believe, and can see, that 2010 has started off<br />
better than the end of 2009.<br />
After the first 3 months of trade in 2010 and the information that<br />
we have obtained from our clients, we are of the impression<br />
that 2009 seems to be the worst in the market and that in 2010<br />
volumes are increasing again. It will take time to obtain higher<br />
freight rates, but at least we are going in the right direction.<br />
It takes approx. 6-12 months from delivery of a newbuilding until<br />
she is fully approved by the major oil companies and even with<br />
the high amount of deliveries from our partners we have found it<br />
very hard to find long term employment for vessels straight from<br />
the shipyard.<br />
As per now, we have more or less achieved our goal of 30% covered<br />
by firm contracts, 30% by timecharter and/or bareboat and<br />
the remaining 40% in the spot market.<br />
ERRIA managed to renew a COA for 2010 with an Israeli customer,<br />
even though we have had heavy competition from newer<br />
tonnage in a market with less activity. Volume has increased by<br />
30%, and if every shipment is 4,000 mts and we handle this using<br />
ERRIA’s smaller tonnage, it will cover approx. 40-50% employment<br />
of one vessel. The route is Haifa / Med with a cargo of<br />
aromatics.<br />
We were also able to renew a COA for 2010 with a European<br />
customer. Volume has gone up 100 % with charterers being<br />
extremely satisfied with our performance. So far, there has not<br />
been a single failure of tank cleaning adding to our good image<br />
with the customer. The route is North Africa to South Europe and<br />
M/V Atlantis Andaman Haifa Terminal<br />
the cargo is very sensitive cargo.<br />
Over the past 10 years, ERRIA has had almost exclusive business<br />
dealings with an American American Oil Trader. If this<br />
continues, we could more or less keep one of our 11,330 TDW<br />
vessels fully employed throughout the next year. The route is<br />
worldwide and the cargo is lubrication oils.<br />
ERRIA has secured a new contract with a Dutch customer, who<br />
is a representative of a large oil company in the Middle East and<br />
Africa. This contract is normally in 6,000 mts lots and equates to<br />
approx. one shipment per month, which, depending on rotations,<br />
could keep one of our 11,330 TDW vessels employed approx.<br />
50-60 percent of the time per year. The route is Europe / Red<br />
Sea with a cargo of aromatics.<br />
We have also secured another contract with the same customer<br />
and for the same cargo, which can be done on any size of vessel.<br />
Quantities will slowly increase, but so far we have carried the<br />
cargo on smaller vessels on a part cargo basis. This can keep<br />
one of our 4,750 TDW vessles employed approx. 20-25 percent<br />
throughout the year. The route is Europe / WC Africa.<br />
We succeeded in renewing the T/C contract with M/T Ingrid Jakobsen<br />
which was due to an excellent proformance of both crew<br />
and vessel.<br />
At the end of 2009, we managed to close a longer B/B with M/T<br />
ERRIA MARIA, with clients in Argentina (see article on page 4).<br />
During 2009 we have increased our focus and efforts on the future<br />
and on our long term relationships with clients. The decision<br />
was made in order to focus more on our long term owners and<br />
keep our contract shipments with those companies who have<br />
supported us for many years. That is also the reason why no<br />
further tonnage has been taken into commercial management<br />
even though we have many options every month.<br />
During 2009, ERRIA took delivery of three newbuildings from<br />
Atlantis (1 x 5,850 TDW and 2 x 6,400 TDW) and two newbuildings<br />
from Yilmar (both 7,000 TDW). As a result of the increased<br />
activity, we have increased our staff and are happy to welcome<br />
Mrs. Perin Suygen to operations and Mr. Fatih Meteoglu to chartering.<br />
3
ERRIA MARIA 3 year bareboat charter in Argentina<br />
by Thomas N. Bech, Superintendent, Erria A/S<br />
Mustering of the experienced crew on M/T ERRIA MARIA - can you recognise team members?<br />
M/T ERRIA MARIA, which is the oldest of our chemical tankers,<br />
had for some months in 2009 been trading out of Lagos in Africa.<br />
In October 2009, it was decided, due to the ongoing financial<br />
economic crisis, to shift the vessel to Copenhagen for lay-up.<br />
Laying up vessels is always a tough decision and a lot of issues<br />
need to be planned prior to starting preparations for lay-up. It is<br />
important to decide in which port the vessel is to be laid-up. Will<br />
minimum crew stay on board? Is cold or warm lay-up the best<br />
decision? For how long should lay-up be planned? And many<br />
other questions need to be answered in order to comply with<br />
Class regulations.<br />
M/T ERRIA MARIA arrived in Copenhagen 23 November, 2009<br />
and preparations for BV Class approval of lay-up were started.<br />
On 7 December, 2009 the vessel was officially laid-up with acceptance<br />
from BV Class.<br />
After having received BV Class acceptance, most crew was<br />
signed off. On board was only AB/Cook and C/E due to further<br />
preparations before having the vessel fully prepared for cold layup<br />
during the winter time with sub-zero temperatures.<br />
The decision of maintaining crew on board and to carry out necessary<br />
preparation turned out to be a very good decision since<br />
the vessel as per 19 January, 2010 was signed up for a 3 year<br />
Bareboat charter.<br />
The contract for a 3 year bareboat charter required the vessel to<br />
have all certificates and surveys valid for at least 6 months and<br />
be fitted with an inert gas system. During the preparation for the<br />
delivery latest by 28 February, 2010, more than 500 jobs were<br />
carried out - some of the largest jobs were:<br />
•<br />
•<br />
•<br />
•<br />
•<br />
4<br />
Boiler renewal<br />
Main & Aux. Engines<br />
Nitrogen plant<br />
Docking Propeller shaft<br />
New piping installations and piping repairs<br />
The inert gas system turned out to be quite a challenge since<br />
normal delivery time for a complete unit approved by Class is at<br />
least 16 working weeks and the deadline was less than 5 weeks<br />
ahead.<br />
The search for a Nitrogen unit started and soon we where searching<br />
all around the world ending in China where we investigated<br />
whether Nitrogen units built for ERRIA’s newbuildings were to be<br />
used. Other units built and designed for other vessels were found<br />
and checked. Unfortunately, they all turned out to be not-fitting or<br />
negotiations were not possible or without the needed progress.<br />
Throughout the entire network of ERRIA and our business associates<br />
a search for a Nitrogen unit was going on and suddenly<br />
a golden opportunity arose. Danish Company, Gazcon, informed<br />
us that they might have a complete inert gas system available<br />
due to a customer not being able to settle an overdue amount.<br />
The Nitrogen unit was inspected in the workshop prior to negotiations,<br />
the supplier handed over drawings and the next step was<br />
to check and make sure that Nitrogen could actually be installed<br />
on board the vessel.<br />
The offered Nitrogen unit was capable of supplying 1000 m3 Nitrogen<br />
with a purity of 99.8%, i.e. only 0.2% Oxygen.<br />
Actually the unit was larger than needed and therefore also dimensions<br />
were quite big, and larger than expected.<br />
The complete Nitrogen unit consists of 6 parts including 2 air<br />
compressors, 1 air receiver unit, 1 Nitrogen receiver unit, 1 Nitrogen<br />
generator unit and junction boxes, the largest component<br />
weighing almost 6 tons and being 3x2x2 meters in size.<br />
With the drawings and dimensions of the Nitrogen unit at hand,<br />
the only thing left was to go onboard the vessel and check installation<br />
possibilities.<br />
After intensive negotiations, ERRIA managed to purchase this<br />
system and thereby finalizing the project suddenly became realistic.<br />
A new crew was also found and luckily ERRIA Crewing was able<br />
to find and sign on crew which had at least 1 contract on board<br />
M/T ERRIA MARIA.<br />
ERRIA NEWS No. 30 March 2010
All work started 19 January, 2010 and dry-dock specification<br />
based on information received from the last crew was made and<br />
presented to 3 different shipyards. An action plan covering all<br />
necessary repairs and installation was prepared by the technical<br />
department of ERRIA and after approval of banks, lawyers and<br />
signing the contract with the new Charterers, the action plan was<br />
put into operation.<br />
Work on deck changing steam pipes was fairly challenging since<br />
winter in Denmark for once decided to be the coldest and most<br />
snowy winter for more than 20 years. This situation made work<br />
on deck cutting, measuring, removing and welding steel pipes a<br />
really tough job.<br />
As the vessel was laid-up, BV Class and Flag administration had<br />
to approve the vessel for a single voyage only. On 9 February,<br />
2010 the vessel was approved for a single voyage, Copenhagen<br />
to Fredericia Shipyard for dry docking.<br />
Thursday, 11 February, 2010, at 10:00 hours, the vessel was in<br />
dry dock and preparations for final installation and repairs commenced.<br />
M/T ERRIA MARIA was undocked 17 February, 2010, only 11<br />
days before hand-over survey with the new Charterers which<br />
was scheduled for 28 February, 2010.<br />
At the same time, the new Argentine crew started to join the<br />
vessel on a daily basis for familiarisation with the vessel and of<br />
course to also make sure that all agreed work was carried out.<br />
All in all, the story of preparing M/T ERRIA MARIA turned out<br />
to be a challenging task and the task would have been for sure<br />
even tougher if ERRIA had not had all skilled persons in house.<br />
During all preparations ERRIA Consulting, ERRIA Crewing and<br />
ERRIA Technical had put up an extraordinary team spirit and<br />
shown that by keeping an open mind and working hard, we can<br />
go all the way.<br />
The Charterer is an Argentina based company which needed a<br />
chemical tanker for a contract with a major oil company. Since<br />
the size and availability of M/T ERRIA MARIA fitted very well, a<br />
contract was signed.<br />
I would personally like to thank everyone who has worked on this<br />
project. It has been a real challenge, and I am sure that everyone<br />
has the nice feeling of achievement, now that we have landed<br />
the contract.<br />
M/T ERRIA MARIA on her way<br />
Teamwork & co-operation<br />
Allan Sparholt, Technical Manager, Erria A/S<br />
The overall ERRIA MARIA project with recommissioning<br />
and installation of a Nitrogen Plant with the purpose of<br />
delivering the vessel into a bareboat charter has showed<br />
how the entire ERRIA organisation can mobilize strength<br />
and combine individual knowledge, capabilities and skills<br />
leading to a success story in difficult times.<br />
This project has proven that our organisation has the<br />
capability and internal knowledge for project management<br />
without purchasing of services and knowhow from external<br />
sources. Each and every department of ERRIA has<br />
contributed positively with timely delivery to the charterers.<br />
The Chartering department closed the bareboat charter.<br />
The Finance department created plans and liquidity<br />
budgets after input from the management of the company<br />
and successfully had the plans approved by the Board of<br />
Directors and the bank.<br />
Our Consulting department has contributed with e.g.<br />
strength, flow, and light weight calculations and updating<br />
of plans and drawings in connection with the Nitrogen<br />
plant installations.<br />
The Crewing department recruited the necessary onboard<br />
crew internally and externally and the Purchase department<br />
provided support and logistic of the supplies to the<br />
vessel in Copenhagen and Fredericia.<br />
The HSQE dept, Vetting dept, PMS dept, Technical dept.<br />
as well as the Board of Directors provided support and<br />
actual manpower as crew members for the ERRIA MARIA<br />
during voyage from Copenhagen to Fredericia where the<br />
crew department supported the individuals with updating<br />
of their seafarers licences.<br />
The Technical dept. provided the overall project management<br />
including electrical installations and modifications<br />
and the onboard attendance for nearly two months with<br />
Superintendent Thomas N. Bech in charge of the maintenance<br />
and repairs with Hasse E. Schmidt in charge of the<br />
installation of the Nitrogen plant.<br />
It is of high value and quite important to mention that each<br />
and every employee has contributed positively to this<br />
project - directly or indirectly.<br />
It should also be mentioned that without our suppliers’ and<br />
partners’ benevolence and loyal support, we would not<br />
have been able to complete the project.<br />
The positive involvement and contribution by the<br />
mentioned departments and all strength of the employees<br />
involved, we ERRIA have again, as a group,<br />
proven real cooperation and excellent teamwork.<br />
5
Crew list as per end of March 2010<br />
RANK DAGMAR CALORIUS JOULIUS<br />
Master Ermelo Daelo<br />
Chief Officer Porfirio Villar Jr.<br />
1 st Officer<br />
2 nd Officer Pedro De Leon<br />
3 rd Officer<br />
Chief Engineer Rene Jimeno<br />
1 st Engineer<br />
2 nd Engineer Edgar Lutero<br />
3 rd Engineer Medelino Aguirre<br />
Elec. Engineer Ronald Novesteras<br />
Pumpman<br />
Bosun / Fitter Roldan B Quijano<br />
Able seaman<br />
RANK ERRIA ANNE ERRIA IDA ERRIA NIMMER<br />
Master Dariusz Kazimierz Kuczynski Jacek Czubski Tomasz Witold Klaput<br />
Chief Officer Zenon Czopek Lukasz Kraszewski Mohammad Tariq<br />
1 st Officer<br />
2 nd Officer Wieslaw Sobkowiak Sebastian Kaczmarczyk Aleksandrs Bondars<br />
3 rd Officer Lukasz Kniter Jacek Adam Kutowinski Przemyslaw Lebiedz<br />
Chief Engineer Henryk Dembczynski Dariusz Grzegorz Denis Algirdas Zemgulis<br />
1 st Engineer<br />
2 nd Engineer Zbigniew Rydzewski Grzegorz Jan Binerowski Vjaceslavs Subnikovs<br />
3 rd Engineer Pawel Filutowicz<br />
Elec. Engineer<br />
Pumpman Wieslav Wisniewski<br />
Bosun / Fitter Franciszek Cycak Ryszard Surowiec Anatolijs Anisimovs<br />
Able seaman<br />
6<br />
Earl C. Valdehueza<br />
Briant N. Rios<br />
Jonathan B. Hiasa<br />
Ordinary seaman Charles Henry L. Porticos<br />
Motorman Ronnie Quibuyen<br />
Cook Marciano A. Borja<br />
Catering<br />
Andrzej Tomczak<br />
Robert Stegienko<br />
Piotr Toronski<br />
Ordinary seaman Marcin Fijol<br />
Fritz Carstens<br />
(Hans Jørgen Birkmann)<br />
Per Knox Sørensen<br />
(Klaus Bo Madsen)<br />
Piotr Prokopowicz<br />
Leszek Kowalski<br />
Krzysztof Zygmunt Lal<br />
Tomasz Krawczyk<br />
Igors Trubnikovs<br />
Deniss Gnatoks<br />
Zabirovs Rinats<br />
Belajevs Jurijs<br />
Motorman Marek Muzacz Damian Ulanowicz Sergejs Nefedovs<br />
Cook Jerzy Dowbor Eugeniusz Bzdrega Mihails Hotjanovics<br />
Catering Jan Heliniak<br />
Michael Köllner<br />
(Henning Johannes Petersen)<br />
Ib Jacobsen<br />
(Villy Andersen)<br />
Torben Jensen Iversen<br />
Jørgen Sand Kirk<br />
(John Juel Jensen)<br />
(Per Maj)<br />
Niels J. B. Hemmingsen<br />
(Andy Rasmussen)<br />
Jens-Peter Hagelund Aagesen<br />
(Jørgen Aaskilde Christensen)<br />
Bo Hjertmann Frederiksen<br />
(Leif Marius Nørholm Nielsen)<br />
Thomas Haugegaard Gotfredsen<br />
(Michael Verner Pedersen)<br />
Lars Dolleris<br />
Poul-Erik Petersen<br />
(Birger Jørgensen)<br />
(Knud Aage Nielsen)<br />
(Poul Andersen)<br />
(Kjeld Andersen)<br />
ERRIA NEWS No. 30 March 2010
ERRIA HELEN ERRIA JULIE INGRID JAKOBSEN ERRIA DORTHE<br />
Adam Hajdukiewicz Vasilij Kalincuk Dawid Marcin Sadecki Cezary Zarzycki<br />
Romans Golubevs Kuznecovs Jevgenijs Michal Kierczynski Mariusz Smialkowski<br />
Aleksandrs Jersovs Anatolijs Dominuks Tomasz Checinski Longin Wisniewski<br />
Kakhaber Varshanidze Jambajevs Rinats Tomasz Sujka<br />
Marek Jerzy Ptasznik Algimantas Narmontas Artur Matkowski Sylwester Leszczynski<br />
Jan Miroslaw Lisowski Eduard Kiseliov Jacek Lawniczak Marek Stanczyk<br />
Muskevits Dmitri<br />
Mikelsons Maris Vladimirs Kalinicenko Romeo S. Macahis<br />
Aleksandrs Utkins<br />
Grigorenko Igors<br />
Aleksejs Vaciks<br />
Aleksejs Kirejevs<br />
Kudrins Pavels<br />
ERRIA MIE NEUTRON PROTON ELECTRON<br />
Rafal Czeslaw Jazdzewski<br />
Danevskij Viktor<br />
Rescenko Pavels<br />
Aleksandrs Pavlovs<br />
Aleksandr Filin<br />
Artur Krotowski<br />
Mihhail Karuzin<br />
Konstantins Grigorovics<br />
Alexander Fedko<br />
Pavels Prokopecs<br />
Klamts Olegs<br />
Sergejs Kornijenko<br />
Pavels Rudzitis<br />
Valerijs Baboks<br />
Aleksandrs Vasiljevs<br />
Fjodors Dobrins<br />
Genadijus Anuscenko<br />
Olegs Omelanskis<br />
Nikolajs Bondarevs<br />
Romanenko Vladimirs<br />
Frank Schmidt<br />
(Hans Ulrik Bollerup)<br />
Børge Richs<br />
(Gunnar Dahlbæk Nielsen)<br />
(Bent Rasmussen)<br />
Jesper Valdemar Petersen<br />
(Gert Nielsen)<br />
Daniel J. Johannesen<br />
(Dan Kristensen)<br />
Poul Erik Olsen<br />
Rasmus Peter Virenberg Larsen<br />
(Jan Abildgaard Eggert)<br />
(Kim Martin Hansen)<br />
Ronnie I. Tuares Henryk Chomiak<br />
Wilfredo Plaza Ureta<br />
Michael C Manaban<br />
Enrique P. Gutierrez<br />
Jesus A Ulgasan<br />
Sergejs Radzabovs Vingris Jurijs Alberto Gabertan Ismael<br />
Tor Holger Tobiasen<br />
(Henning Iversen)<br />
Bo Larsen<br />
(Claus Ole Andersen)<br />
Lars Peter V. Johansen<br />
(Kim Jensen)<br />
Tomasz Kobusz<br />
(Dion Klockmann Malmberg)<br />
Lars Henrik Larsen<br />
Kurt Gråhøj<br />
(Jimmy Espersen)<br />
(Thomas Ortved Larsen)<br />
Pawel Scibor<br />
Romuald Nowak<br />
Ryszard Konarski<br />
Zbigniew Krzysztoszek<br />
Dariusz Pachula<br />
Voinarovskis Valerijs Alens Kurackins Michael Marmeto Merino Czeslaw Lenartowski<br />
Jurijs Likovs<br />
Esben Abildtrup Lauritsen<br />
(Elo Hardy Nielsen)<br />
Jens Otto Fleischer<br />
(Uffe Bjerre)<br />
Peter Knud Madsen<br />
(Ole Bagge)<br />
Morten Kold<br />
(Erling Nielsen)<br />
(Eigil Skytte Nielsen)<br />
(Niels Bjørn Rasmussen)<br />
Leo Berg<br />
Brian Lykke Nielsen<br />
(Palle Ringgaard)<br />
(Ove Dolleris)<br />
(name) = home/vacation<br />
7
Karsten Bundgard turns 60<br />
by Per Schorling, Editor<br />
Karsten Bundgaard<br />
Planned succession in the Board of Directors<br />
by Kaare Vagner, Chairman, Erria A/S<br />
Jan Erlund<br />
Finn Buus Nielsen<br />
8<br />
Karsten Bundgaard has turned 60 on 12 January, 2010. He has<br />
worked with Erria A/S for approx. 5 years as of June, 2010, and<br />
started out as controller in the accounts department, but in recent<br />
years, focus has turned to tasks related to investors.<br />
“It’s a job I enjoy being in, amongst good colleagues.”, says<br />
Karsten, who at the time of the interview is in the midst of finalising<br />
the annual report for 2009.<br />
Karsten was employed for 20 years in the shipping company<br />
Knud I. Larsen, working with vessel accounts and administrative<br />
IT systems of both the Company as well as on vessels. The<br />
job also included economic reporting to Executive Management,<br />
Ship Managers and investors. With a background favouring jobs<br />
in shipping, Karsten has been around most of the world in connection<br />
with visits onboard vessels. The journeys have included<br />
several sailings where administrative IT systems were implemented<br />
on board.<br />
Karsten’s hobby is the training of dogs in the Danish Police Dog<br />
Association. “I have had German sheepdogs for 34 years, and<br />
they continue to challenge me in my limited spare time”, Karsten<br />
Bundgaard says.<br />
I have a 35 year old son, who is a librarian in Aarhus.<br />
A planned succession in the Board of Erria A/S is expected to take place at the upcoming General<br />
Assembly in Copenhagen on 23 April, 2010. Jan Erlund, Deputy Chairman, will not run for<br />
re-election, and a new board member is expected to take his place.<br />
The Board will nominate President Finn Buus Nielsen (60) as new Deputy Chairman of the<br />
Board.<br />
Finn Buus Nielsen has worked his entire career in the A.P. Moller - Maersk group of companies<br />
with production and project management, as well as general management. His last position<br />
was President of Odense Steel Shipyard - Lindø from which he retired in 2009.<br />
Finn Buus Nielsen will contribute with significant competences in both the technical and commercial<br />
areas of vessel construction and operation, as well as general management of maritime<br />
companies.<br />
The Company would like to express its appreciation of the long and profound effort of Jan Erlund<br />
in the Board, and we are certain that Erria A/S would not have developed as consistently<br />
without the experience and influence of Mr. Jan Erlund.<br />
ERRIA NEWS No. 30 March 2010
Vietnam and Saigon Shipping J/S Company are gearing up<br />
by Kaare Vagner, Chairman, Erria A/S<br />
The overall business environment in Vietnam is improving when<br />
we see it from ERRIA’s perspective. Many new activities have<br />
been initiated, and both vessels and the new distribution centre<br />
add to our capabilities as a full-service provider of logistics in<br />
Vietnam.<br />
The combined container service of road- and river transportation<br />
with own trucks and river vessels has tripled for the first two<br />
months of 2010 compared to the same period last year, and we<br />
expect this positive trend to develop further during 2010.<br />
The vessels are in good operation and further positive developments<br />
are expected because of the extensive investments being<br />
carried out in land, warehouse and vessels.<br />
On 1 April, 2010, Saigon Shipping J/S Company will be opening<br />
the recently constructed 6,000 m2 bonded warehouse in Thu Duc<br />
industrial zone. It is yet another milestone in the development of<br />
the Company, and on this page, you can see a scale model and a<br />
photo of the new addition.<br />
During the summer of 2010, we will further add to this a new<br />
distribution centre in the port of Danang.<br />
The Annual General meeting on 12 April, 2010 will propose a dividend<br />
of 4% based on positive developments and good indications<br />
for the future.<br />
Saigon Shipping J/S Company is owned partly by SAMCO (Peoples<br />
Committee) with 51% ownership and ERRIA with 35% ownership.<br />
ERRIA and Saigon Shipping J/S Company are ready to follow<br />
the market demand from our many customers, and have great<br />
expectations for our investments in Vietnam.<br />
The Board of Directors of SSCO with Mrs. Denmark running for<br />
Mrs. World 2009 in the contest in Vietnam.<br />
The 6,000 m 2 bonded warehouse in Thu Duc industrial zone.<br />
The scale model of the new bonded warehouse, which will increase the capacity of Saigon Shipping J/S Company even further.<br />
9
New assignment for ERRIA Consulting<br />
by Vagn Skaarup Christensen, Project Engineer, ERRIA Consulting<br />
ERRIA Consulting has entered into one of its largest international<br />
assignments ever.<br />
ERRIA Consulting will participate as an advisor to an ongoing<br />
construction project for PDVSA (Petroleos de Venezuela), the<br />
national oil company in Caracas, Venezuela.<br />
Initially, this is the building of four AFRAMAX tankers from 2010<br />
and four years ahead. AFRAMAX has nothing to do with Africa,<br />
but stands for “Average Freight Rate Assessment”.<br />
We will assist with an inspection team at the shipyard, who<br />
at the same time shall act as a mentor for PDVSA’s own Site<br />
Manager at the shipyard.<br />
In addition to project coordination, the office in Copenhagen<br />
shall work with drawing approval and technical support.<br />
Managing Director Henrik N. Andersen, General Manager Consulting<br />
Jørgen Thuesen and Project Engineer Vagn Skaarup<br />
visited SADRA yard where the ships will be built.<br />
It is the first time that the shipyard will build a tanker. The yard<br />
was involved in construction of a small multipurpose container<br />
vessel, but the building of that ship was never completed. In<br />
other words, it is a shipyard with limited experience in shipbuilding,<br />
so this will be a great task and challenge for ERRIA<br />
Consulting<br />
An AFRAMAX tanker is around 113,000 DWT. Cargo tanks can<br />
contain up to 129,500 cubic meters of crude oil, 250 meters<br />
long and have a width of 44 metres. As it can be hard to imagine<br />
the size of such a large construction, you must imagine it<br />
placed on a football field (see drawing to the right).<br />
As shown in the drawing, it is necessary to find three football<br />
fields in line, for the ship to stand on the lawn!<br />
The total steel weight, i.e. the ship without machinery and outfitting<br />
is 17,184 T. When the next shipment of steel plates arrives<br />
at the yard, the construction of straight and curved panels<br />
will begin.<br />
These sections will then be combined into blocks, of a size that<br />
make them fit inside the paint shop, where the coating process<br />
starts with grit blasting followed by painting.<br />
The blocks will then be assembled into huge blocks, after which<br />
they will be lifted into the dock.<br />
This is still in the future although the building was started several<br />
months ago. The only visible sign of the first AFRAMAX is<br />
a lot of T-bars.<br />
It is expected that the actual commencement will begin in April,<br />
when the steel plates arrive at the shipyard. At that time, we will<br />
have placed our site manager at the shipyard.<br />
10<br />
The delegation from ERRIA<br />
An AFRAMAX placed on three football fields<br />
The very beginning of an AFRAMAX tanker<br />
Until now, T-bars, is the only visible sign of the first AFRAMAX<br />
ERRIA NEWS No. 30 March 2010<br />
An AFRAMAX placed on three football fields.
M/T ERRIA MIE through the ice<br />
by Carl Peter Ipsen, Superintendent, Master Mariner, Erria A/S<br />
When M/T ERRIA MIE, under the command of Captain Sergey<br />
Sidlovskis, departed from Assimi, Sardinia on 12 May, 2009<br />
bound for Maptaphut, Thailand he had no chance to foresee the<br />
different climates the vessel would encounter during her coming<br />
9 months.<br />
The following ports were called after Maptaphut: Singapore, Male<br />
at the Maldives, Colombo at Sri Lanka, Durban, Luanda and then<br />
more than 4 months in Ship-to-Ship Transfer (STS) Operations<br />
off the West Coast of Africa.<br />
M/T ERRIA MIE was upon completion of the STS heading back<br />
for Europe, where Captain Sergey Sidlovskis took some interesting<br />
photos of the ice situation when the vessel called his home<br />
town of Liepaja, Latvia on 6 February, 2010.<br />
After successful loading, the vessel departed Liepaja and was<br />
again heading for a warmer climate.<br />
We thank Captain Sergey Sidlovskis for the “frozen” pictures.<br />
Please send more photos<br />
“A photo says more than a thousand words”, it is<br />
often said, and this article is real proof that this is<br />
the case - I guess everyone can feel the cold air of<br />
winter now that spring is approaching.<br />
We would like to encourage everyone to send us<br />
photos for ERRIA NEWS and for www.<strong>erria</strong>.dk<br />
Email them to ps@processupport.dk and we shall<br />
make sure that they are put to good use.<br />
Per Schorling, Editor<br />
11
Fleet List<br />
TANK & CHEMICAL DWT Cap. cbm No. of tanks Built Flag Trading area/employment<br />
ERRIA MARIA 6,744 7,436 13 2001 Liberia BB Charter South America<br />
ERRIA ANNE 4,710 5,069 12+2 2006 Malta North Europe - Med - Africa<br />
ERRIA DORTHE 4,672 5,069 12+2 2007 Malta North Europe - Med - Africa<br />
ERRIA JULIE 4,710 5,069 12+2 2007 Malta North Europe - Med - Africa<br />
ERRIA NIMMER 4,710 5,069 12+2 2008* Malta North Europe - Med - Africa<br />
INGRID JAKOBSEN 6,450 6,940 12 2006 Antigua Carribeans<br />
ERRIA HELEN 11,336 12,650 14+2 2006 Malta Worldwide<br />
ERRIA IDA 11,336 12,650 14+2 2007 Malta Worldwide<br />
ERRIA MIE 11,336 12,650 14+2 2007 Malta Worldwide<br />
YM JUPITER 15,995 18,069 12+2 2007 Malta Worldwide<br />
YM SATURN 15,988 18,069 12+2 2007 Malta Worldwide<br />
YM URANUS 7,000 8,050 10+2 2008 Malta North Europe - Med - Africa<br />
YM NEPTUNE 7,000 8,050 10+2 2009 Malta North Europe - Med - Africa<br />
YM PLUTO 7,000 8,050 10+2 2009 Malta North Europe - Med - Africa<br />
YM VENUS 5,846 6,435 10+2 2005 Malta North Europe - Med - Africa<br />
YM EARTH 5,758 6,585 10+2 2005 Malta North Europe - Med - Africa<br />
ATLANTIS ANDAMAN 6,400 7,000 12+2 2009 Malta North Europe - Med - Africa - WCI<br />
ATLANTIS ALHA<strong>MB</strong>RA 6,400 7,000 12+2 2009 Malta North Europe - Med - Africa - WCI<br />
ATLANTIS ANTIBES 5,850 6,464 10+2 2009 Malta North Europe - Med - Africa - WCI<br />
ATLANTIS ALDABRA 3,517 4,101 10+2 2005 Isle of Man North Europe<br />
ATLANTIS ARMONA 3,517 4,101 10+1+1 2004 Isle of Man North Europe<br />
ATLANTIS ALVARADO 3,502 4,101 10+1+1 2004 Isle of Man North Europe - Med - Africa<br />
ATLANTIS ANTALYA 3,445 3,692 10+2 2004 Isle of Man South America<br />
DRY CARGO and more DWT Cap. cbm Cap. TEU Built Flag Trading area/employment<br />
VENTO DI GRECALE 14,140 1,166 1991 Antigua Worldwide<br />
FILIPPA 14,140 1,158 1991 Antigua Worldwide<br />
DAGMAR 7,300 599 1993 Antigua Worldwide<br />
INGRID 7,733 534 1995 Antigua Worldwide<br />
FREYFAXI 1,387 1966 Panama Norwegian Coast<br />
KANUTTA 840 1958 Panama Norwegian Coast<br />
ERRIA VIETNAM 2,900 3,000 128 2008 Antigua Caribbeans<br />
ELISABETH BOYE 2,650 1990 Denmark Worldwide<br />
INDUSTRIAL LEADER 3,959 1996 Denmark Worldwide<br />
AMANDA 1,790 1981 Denmark North Europe<br />
VEGA 1,950 1975 Denmark North Europe<br />
MARIBO 920 1965 Panama Norwegian Coast<br />
TENEDOS 3,124 1980 Panama Med - Black Sea<br />
EURO TRANS 1,350 1979 Panama North Europe<br />
WANI LOGGER 2,900 1976 Barbados Worldwide<br />
WANI POINT 2,800 1979 Barbados North Europe<br />
WANI WILL 2,800 1978 Barbados North Europe<br />
TUGS & BARGES DWT KW Built Flag Trading area/employment<br />
CALORIUS Tugboat 3,375 KW 1988 DAS Dong Energy Power<br />
JOULIUS Tugboat 3,375 KW 1989 DIS Vattenfall Danmark<br />
VT ELECTRON Tugboat 2,730 KW 1984 DIS Vattenfall Danmark<br />
VT PROTON Tugboat 2,730 KW 1983 DIS Vattenfall Danmark<br />
VT NEUTRON Tugboat 2,339 KW 1981 DIS Vattenfall Danmark<br />
POUL 10,883 1987 DAS Dong Energy Power<br />
SVEND ÅGE 10,883 1987 DAS Dong Energy Power<br />
IHOLM II 7,550 1978 DAS Dong Energy Power<br />
DREJØ II 15,700 1991 DAS Dong Energy Power<br />
VT WARSAW 16,690 1992 DIS Vattenfall Danmark<br />
T COPENHAGEN 16,690 1992 DIS Vattenfall Danmark<br />
VT STOCKHOLM 16,690 1992 DIS Vattenfall Danmark<br />
KARBON 10,883 1992 DAS Vattenfall Danmark<br />
TRIAS 10,900 1987 DAS Vattenfall Danmark<br />
SILUR 10,883 1987 DAS Vattenfall Danmark<br />
JURA 10,883 1987 DAS Vattenfall Danmark<br />
Editor’s notes<br />
Chief editor and responsible to the press<br />
Henrik N. Andersen<br />
henrik@<strong>erria</strong>.dk<br />
T +45 3336 4400<br />
Editor’s note<br />
We thank all contributors for the articles that we have received.<br />
If you feel inspired to contribute with a story for the next issue,<br />
please send us your story by email as .doc or .pdf along with<br />
photos (approx. 1Mb) to ps@processupport.dk.<br />
Best regards<br />
Per Schorling, T +45 6220 6980