Odfjell SE Annual Report 2012
Odfjell SE Annual Report 2012
Odfjell SE Annual Report 2012
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odfjell se<br />
Maturity receivables as per 31 December 2011:<br />
(USD 1 000) <strong>2012</strong> 2013 2014 2015 2016 2017+ Total<br />
Loans to third parties 1 441 16 441 441 – – – 18 324<br />
Loans to group companies – – – – – 566 127 566 127<br />
Total non-current receivables 1 441 16 441 441 – – 566 127 584 451<br />
Loans to third parties are secured by 2nd priority mortgages.<br />
Loans to Group companies generally have no fixed repayment schedule. Repayment is based on available liquidity. Loans to Group companies<br />
are priced on an arms-length basis.<br />
Note 15 Available-for-sale-investments<br />
(USD 1 000)<br />
Currency<br />
Average<br />
interest rate Book value<br />
Bonds and certificates issued by financial institutions USD 1.19% 11 283<br />
Bonds and certificates issued by financial institutions NOK 3.30% 5 449<br />
Total 16 732<br />
Book value equals market value. Market value of investments that are actively traded in organised financial markets is determined by<br />
reference to quoted market bid prices at the close of business on the balance sheet date. Bonds and certificates generally have interest rate<br />
adjustments every three months.<br />
Note 16 Salaries, number of employees, benefits to Board of Directors, President/CEO,<br />
other members of the Management Group and auditor’s remuneration<br />
For <strong>2012</strong> the Company has no employees and the Company is not bound to have mandatory occupational pension scheme pursuant to the<br />
Norwegian law of Occupational pension scheme.<br />
Compensation and benefits to Board of Directors in <strong>2012</strong>:<br />
(USD 1 000)<br />
Compensation<br />
Other<br />
benefits<br />
Total<br />
Laurence Ward <strong>Odfjell</strong> (Executive Chairman) 335 – 335<br />
Bernt Daniel <strong>Odfjell</strong> 34 – 34<br />
Irene Waage Basili 51 – 51<br />
Terje Storeng 51 – 51<br />
Christine Rødsæther 43 – 43<br />
Jannicke Nilsson – – –<br />
Total 515 – 515<br />
Auditor´s remuneration for:<br />
(USD 1 000 exclusive VAT) <strong>2012</strong> 2011<br />
Statutory auditing 146 152<br />
Other assurance services – 3<br />
Tax advisory services 2 31<br />
Non-audit services 190 40<br />
Total remuneration 338 226<br />
Note 17 Pension costs and liabilities<br />
For <strong>2012</strong> the Company has no employees and the Company is not bound to have mandatory occupational pension scheme pursuant to the<br />
Norwegian law of Occupational pension scheme.<br />
65<br />
odfjell annual report <strong>2012</strong>
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