Odfjell SE Annual Report 2012

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odfjell se Note 18 Shares Subsidiaries and activities under joint control are included in the parent company accounts based on the Cost Method. (USD 1 000) Registered office Share/ voting rights Book value Result 2012 Equity 2012 Odfjell Management AS Norway 100% 21 858 (1 923) 17 854 Odfjell Maritime Services AS Norway 100% 1 929 369 4 014 Odfjell Tankers AS Norway 100% 9 858 (42) 16 531 Odfjell Terminals SE Norway 100% 40 193 224 321 328 171 Odfjell Insurance & Properties AS Norway 100% 843 (27) 792 Odfjell Projects AS Norway 100% 13 (2) 17 Norfra Shipping AS Norway 100% 150 030 (10 739) 113 389 Odfjell Tankers Europe AS Norway 100% 1 717 14 1 720 Odfjell Gas AS Norway 100% 16 (452) (436) Odfjell Gas Carriers AS Norway 100% 16 (293) (276) Odfjell Newco AS Norway 100% 5 – 5 Odfjell Singapore Pte Ltd Singapore 100% 13 245 2 830 Odfjell USA (Houston) Inc USA 100% – 180 1 922 Odfjell Netherlands BV Netherlands 100% 1 021 99 410 Odfjell (UK) Ltd United Kingdom 100% 2 166 (5 775) 32 771 Odfjell Chemical Tankes (Germany) GmbH Germany 100% 1 557 – 1 012 Odfjell Japan Ltd Japan 100% – 753 (1 268) Odfjell Korea Ltd Korea 100% 43 (127) (14) Odfjell Brasil - Representacoes Ltda Brazil 100% 983 49 1 221 Odfjell Chemical Tankers Ltd Bermuda 100% 441 262 128 447 079 Odfjell Peru Peru 100% 195 17 68 Odfjell Ship Management (Philippines) Inc Philippines 100% 200 153 420 Odfjell Durban SA (Pty) Ltd South Africa 100% – 17 951 Odfjell Argentina SA Argentina 90% 129 (15) 211 Total 674 049 The company Odfjell Argentina SA is directly and indirectly 99% owned by Odfjell SE. No impairments were necessary. Other shares 1) Result and equity on 100% basis. Registered office Share/ voting rights Book value Result 2012 1) Equity 2012 1) Odfjell Ahrenkiel Europe GmbH Germany 50% 289 – 694 Oiltanking Odfjell Terminal Singapore Pte Ltd Singapore 50% 20 195 14 590 61 214 Odfjell & Vapores Ltd Bermuda 50% 4 (20) 50 Odfjell y Vapores S A Chile 49.5% 506 3 050 18 400 NCC Odfjell Chemical Tankers JLT United Arab Emirates, Dubai 50% 41 2 024 2 476 V.O.Tank Terminal Ningbo Ltd China 12.5% 1 108 1 424 13 808 Crystal Pool AS Norway 50% 9 8 (252) Total other shares 22 153 Note 19 Restricted cash and cash equivalents The Company has no restricted cash and cash equivalents per 31 December 2012. Note 20 Share capital and information about shareholders (NOK 1 000) Number of shares Nominal value (NOK) 2012 2011 A shares 65 690 244 2.50 164 226 164 226 B shares 21 078 704 2.50 52 697 52 697 Total 86 768 948 216 922 216 922 All shares have the same rights in the Company, except that B shares have no voting rights. 66 odfjell annual report 2012
odfjell se 20 largest shareholders as per 31 December 2012: Name A shares B shares Total Percent of votes Percent of shares 1 Norchem AS 25 966 492 1 591 176 27 557 668 39.53% 31.76% 2 Dnb Nor Bank ASA 5 861 048 2 369 170 8 230 218 8.92% 9.49% 3 Rederiet Odfjell AS 3 497 472 – 3 497 472 5.32% 4.03% 4 Odfjell Shipping Bermuda Ltd. 2 750 000 715 760 3 465 760 4.19% 3.99% 5 Pareto Aksje Norge 2 045 342 1 229 529 3 274 871 3.11% 3.77% 6 SHB Stockholm Clients Account 1) 1 599 670 1 430 680 3 030 350 2.44% 3.49% 7 SIX SIS AG 5 Pct Nom 1) 1 036 400 1 600 800 2 637 200 1.58% 3.04% 8 JP Morgan Clearing Corp. 1) 2 125 819 25 225 2 151 044 3.24% 2.48% 9 SIX SIS AG 1) 1 099 600 577 100 1 676 700 1.67% 1.93% 10 Skagen Vekst 1 664 725 – 1 664 725 2.53% 1.92% 11 Fondsfinans Spar 1 600 000 – 1 600 000 2.44% 1.84% 12 Pareto Aktiv 874 087 523 823 1 397 910 1.33% 1.61% 13 Odin Maritim 88 288 1 137 813 1 226 101 0.13% 1.41% 14 KLP Aksje Norge VPF 726 450 223 534 949 984 1.11% 1.09% 15 SES AS 210 000 670 000 880 000 0.32% 1.01% 16 The Northern Trust Co 1) 13 579 816 400 829 979 0.02% 0.96% 17 AS SS Mathilda 600 000 150 000 750 000 0.91% 0.86% 18 Pareto Verdi 461 714 283 420 745 134 0.70% 0.86% 19 Berger 732 400 – 732 400 1.11% 0.84% 20 KLP Aksje Norden VPF 721 731 – 721 731 1.10% 0.83% Total 20 largest shareholders 53 674 817 13 344 430 67 019 247 81.71% 77.24% Other shareholders 12 015 427 7 734 274 19 749 701 18.29% 22.76% Total 65 690 244 21 078 704 86 768 948 100.00% 100.00% International shareholders 37 523 440 9 267 760 46 791 200 57.12% 53.93% 1) Nominee account. The Extraordinary General Meeting on 2 October 2012 authorised the Board of Directors to acquire up to 10 % of the Company's share capital. This authorisation expires 2 April 2014. The purpose of purchasing own shares is to increase shareholders' value. The Board of Directors regularly considers investments in own shares when it may be beneficial for the Company. Shares/controlled owned by members of the board (including related parties): A shares B shares Total Executive Chairman of the Board of Directors, Laurence Ward Odfjell 25 966 492 1 755 076 27 721 568 Director, Bernt Daniel Odfjell – 2 032 2 032 Director, Terje Storeng 70 560 2 112 72 672 Note 21 Guarantees (USD 1 000) 2012 2011 Subsidiaries 664 736 735 588 Odfjell SE has given guarantees on behalf of subsidiaries as part of our day-to-day business to assume responsibility for bunkers purchases, port obligations, credit facilities and operating lease commitments. Guarantees to and from Group companies are generally entered into on arms-length basis. 67 odfjell annual report 2012
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ANNUAL REPORT odfjell 2012
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Mission statement Odfjell shall be
Page 5 and 6:
LEADING Logistic service provider f
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27.07 Odfjell decided to do a tempo
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odfjell management group JAN ARTHUR
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and Jannicke Nilsson. The Audit Com
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Finally, we also have a 50/50 joint
Page 15 and 16: to reduce the Company’s exposure
Page 17 and 18: Development of new and yet untapped
Page 19 and 20: odfjell group financial statement O
Page 21 and 22: odfjell group statement of cash flo
Page 23 and 24: odfjell group evaluations. Further
Page 25 and 26: odfjell group by the lessor are cla
Page 27 and 28: odfjell group include cash in hand
Page 29 and 30: odfjell group consolidated financia
Page 31 and 32: odfjell group Note 4 Financial Risk
Page 33 and 34: odfjell group Derivative financial
Page 35 and 36: odfjell group Held for sale liabili
Page 37 and 38: odfjell group Specification of defe
Page 39 and 40: odfjell group The major categories
Page 41 and 42: odfjell group Note 11 Intangible as
Page 43 and 44: odfjell group Note 14 Government gr
Page 45 and 46: odfjell group Note 19 Voyage expens
Page 47 and 48: odfjell group The guidelines for sh
Page 49 and 50: odfjell group The table below summa
Page 51 and 52: odfjell group Name A shares B share
Page 53 and 54: odfjell group Odfjell SE has entere
Page 55 and 56: odfjell group (USD 1 000) Per 15 Au
Page 57 and 58: odfjell se statement of financial p
Page 59 and 60: odfjell se Note 3 Derivative financ
Page 61 and 62: odfjell se Note 4 Long - term debt
Page 63 and 64: odfjell se Note 6 Shareholders’ e
Page 65: odfjell se Maturity receivables as
Page 69 and 70: 69 odfjell annual report 2012
Page 75 and 76: Gram CO 2 per tonne transported 1 k
Page 77 and 78: Energy-saving campaign In 2012 an i
Page 79 and 80: Following the incidents at OTR, inv
Page 81 and 82: fleet distribution (chemical tanker
Page 83 and 84: ships are used for the most special
Page 85 and 86: chemical and plastic metal commodit
Page 87 and 88: operating out of Sao Paulo, Brazil,
Page 91 and 92: estimation of world seaborne ethyle
Page 95 and 96: 5.3 MILLION cbm storage capacity 2
Page 97 and 98: Rotterdam’s main shipping artery
Page 99 and 100: current capacity is 365,000 cbm in
Page 101 and 102: employees 1 881 Ship crew Internati
Page 103 and 104: Power of Attorney to the Board of D
Page 105 and 106: THE WORK OF THE BOARD OF DIRECTORS
Page 107 and 108: The Board shall ensure that the Com
Page 109 and 110: good understanding of the Company
Page 111 and 112: in short-term interest rates, inter
Page 113 and 114: LPG/Ethylene carriers Year built DW
Page 115 and 116: offices and aDdresses MAIN OFFICE O
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Odfjell SE Annual Report 2012

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