Issue No. 7, September 2007 - J. Lauritzen

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12 “It is obviously emotional for us to leave the reefer business and we wish NYKCool a fair wind. We want to thank all our trustworthy customers worldwide for their continued support. We also thank the many dedicated employees of JL who over many years worked hard to meet our customers’ demands.” Torben Janholt, President & CEO, J. Lauritzen Class reefer vessels (758,725 cbft. capacity under deck and 118 FEU reefers on deck) delivered from Danyard (Aalborg and Frederikshavn Shipyards) in 1990-91. A reefer-industrial cluster had gradually evolved within the Lauritzen Group, which included construction at Danyard of state-of-the-art reefer vessels equipped with advanced cooling machinery produced by Sabroe Refrigeration, ownership of reefer vessels by J. Lauritzen, and commercial management of tonnage by Lauritzen Reefers’ pool. Over the years Lauritzen Reefers worked diligently to optimise the return on voyages by exploiting the flexibility of the reefer ships’ holds to carry dry cargoes on return voyages. The reefer trades are characteristically from the southern to the northern hemisphere, and the ability to carry packaged goods or, at a later date, containers on the return voyages could significantly improve the bottom-line. This concept peaked during the years of cooperation with the NOBOA group, with bananas and other fruits as fronthaul cargoes for the US and Japan markets and cars as backhaul cargoes from Japan to Chile, Peru, and Ecuador. Major acquisitions Lauritzen Reefers’ pool was terminated in 1996, after which LR was established as a stand-alone entity operating tonnage solely owned and time-chartered by JL. In December 2000, JL acquired Cool Carriers from Norwegian Leif Hoegh & Co. and subsequently merged Lauritzen Reefers and Cool Carriers, creating LauritzenCool. Following this initial strategic move, JL became instrumental in the consolidation of the reefer industry. Lauritzen Reefers and Cool Carriers were a perfect strategic fit, which combined two of the strongest brand names in the industry, with robust market positions in all major trades, strong conceptual skills, and long-lasting customer relationships. Furthermore, both companies had experience with land-based reefer logistics as a supplement to ocean transportation, and on that basis LauritzenCool Logistics (LCL) was established. In August 2003, a strategic partnership was established between NYK Reefers and LauritzenCool. This was shortly followed by NYK’s acquisition of 50% of LCL in January 2004 and NYK’s subsequent 50% acquisition of LauritzenCool in September 2005, whereby NYKLauritzenCool was created. Finally, NYK acquired the remaining 50% of NYKLauritzenCool, effective 1 June 2007, thereby taking full control of the company. Ongoing excellence For JL, the recent transaction marks the end of an era with intimate customer relationships and great colleagues. We thank them all for their trust and support, and wish them all the best of luck in the future. J. Lauritzen will endeavour to bring the entrepreneurship, innovative skills, and flexibility that we have gained within the reefer industry with us in our constant effort to become a world-class shipping company, irrespective of within which segments of shipping we concentrate our efforts. Background source for article: Søren Thorsøe. “J. Lauritzen 1884-1984.” The World Ship Society, Kendal, 1984. Hiroshi Yamafuji (on left), CEO, NYK Reefers and Torben Janholt, President & CEO, J. Lauritzen
A Capesize milestone Lauritzen Bulkers places first-ever order for Capesize newbuildings with Korea’s Hyundai shipyard. Although Lauritzen Bulkers acquired two time-charter Capesize vessels last year, the order with Hyundai is the first for newbuildings of this size. They are scheduled for delivery during the last quarter of 2009 and the first quarter of 2010. In addition, two similar Capesizes have been ordered from Japanese yards. “At 180,000 tons deadweight, they’re the biggest ships we’ve ever ordered,” says Jens Ditlev Lauritzen, president of Lauritzen Bulkers. “In the larger picture, these four Capesize purchases are part of our ongoing strategy of taking every opportunity to strengthen the Lauritzen Bulkers fleet, which is today at a record level of more than 85 ships.” The growth strategy is further evidenced by the fact that Lauritzen Bulkers is awaiting delivery of more than 40 other vessels, including purchased, contracted, and time-chartered ships. They are to be delivered between now and 2011, and, encompassing a variety of vessel sizes and types, indicate Lauritzen Bulkers’ determination to increase its fleet across all segments. Capesize ships – so called because they are too large to traverse the Panama Canal and therefore must round the Cape of Good Hope and Cape Horn to travel between oceans – represent the largest type of bulker carriers. The “In the larger picture, these four Capesize purchases are part of our ongoing strategy of taking every opportunity to strengthen the Lauritzen Bulkers fleet, which is today at a record level of more than 85 ships.” Jens Ditlev Lauritzen President, Lauritzen Bulkers ships on order at Hyundai are being built to meet the latest CSR (Common Structural Rules) and PSPC (Performance Standard for Protective Coating) standards. The application of these standards serve various purposes, namely to prolong the service life of the vessel, increase its safety, and at the same time reduce its maintenance. They will be used primarily to transport iron ore, and are 292 metres long, have a 45 metre beam, and draw an 18-metre draft fully loaded. Because of the enormous pressure of being loaded at rates of up to 15,000 tons per hour, the four new vessels will also incorporate a stress-monitoring system to protect their hulls. 13
Page 1 and 2: OCEANS OF KNOW-HOW September 2007 A
Page 3 and 4: Dear Reader, The ability to handle
Page 5 and 6: the coming years, five of them owne
Page 7 and 8: e ing alert are fully confident wit
Page 9 and 10: The average amount of money awarded
Page 11: “J. Lauritzen has enjoyed a stron
Page 15 and 16: While allotment gardens in the past
Page 17 and 18: ing and discharge ports and determi
Page 19 and 20: An immediate success The 2006-2007

Issue No. 7, September 2007 - J. Lauritzen

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