eitzen news 7.qxd - Eitzen group

September 2006 No. 7
The quality of our values
is the strongest
force we have
EITZEN GROUP
Est. 1883

The quality of our values is the
strongest force we have
Eitzen News
September 2006 No. 7
Published by:
Camillo Eitzen & Co ASA
Camillo Eitzen House
Smakkedalen 8
DK-2820 Gentofte
Denmark
Telephone +45 7733 8600
Editor:
Peer Harms Larsen
Layout:
Anne Kok
The development of Eitzen Group continues
at a high pace.
By combining our existing platform in the
physical shipping markets with the position
in the international financial markets, we
are able to organize structures which are
solid and competitive, providing our customers
with improved transportation solutions
through increased logistical efficiency,
better suited tonnage supply, increased
flexibility and improved cost efficiency.
The possibility of acquiring the Songa
Shipholding fleet of chemical carriers
from Arne Blystad, is creating such a
unique possibility.
However, this acquisition is subject to a
successful creation of Eitzen Chemical
ASA into a separately listed chemical company
at the Oslo Stock Exchange, with a
vastly increased equity base invested by
international institutions.
At this point in time, we are all working
"around the clock" in order to establish
this company.
If we succeed, this will thus be the second
separately listed company based on the
core business segments of Camillo Eitzen
& Co ASA.
The first was Eitzen Maritime Services
ASA, in which ship management and crew
management are core business in addition
to developing a complete set of related
services to the maritime industry.
The second now being Eitzen Chemical
ASA.
Eitzen Group, through Camillo Eitzen &
Co ASA and Eitzen Holding AS will
remain the largest shareholders of these
separately listed companies.
The companies will have their own CEOs
and CFOs, but will share the common support
functions organized through CECO,
and as CEO of CECO, I will remain
Chairman of the Board of all the companies.
The listed companies will all be part of the
Eitzen Group, with continued focus on the
Group Philosophy, Group Culture, Brand
Platform, Code of Conduct and Business
Ethics.
In today's environment, with changes and
development occurring at higher speed
than ever before, I believe it is of utmost
importance that we, as a Group, firmly
hold on to these "soft" values, which I
believe will prove to be the most important
values going forward.
The quality of our values and the ability to
live by these is the strongest force we have.
It is YOU, all of you within the Group,
onboard or onshore, who represent the
trust and professionalism which are fundamental
for our ability to gain market share
and develop further with our business
partners.
Front cover:
LPG/C
"SIGAS MARGRETHE"
the first newbuilding for
Eitzen Gas
Very best regards
Axel C. Eitzen
CEO
2 Eitzen News

Trade delegation in South America
By Claus Stahl, General Manager Chartering Eitzen Bulk
The increased trade by Danish ship owners to and from South
America and Danish ship owners' general involvement in this
area was put on focus by the Danish Ship Owners Association
on a delegation trip to Brazil and Chile in June, 2006. The trip
was headed by the Danish Vice Prime-Minister and Minister
for Economic and Business Affairs, Mr. Bendt Bendtsen, who
by his presence and involvement further enhanced the presence
of the Danish ship owners and their activities in the area.
Eitzen Bulk was asked to take the leading role in representing
the dry bulk side of the delegation, and Managing Director
Niels Jørgen Laustsen and undersigned made a presentation in
Brazil and Chile, respectively, covering the general bulk activities
by Danish ship owners and operators, and of course also
the activity of Eitzen Bulk, including our involvements at sea
as well as on shore in the area. A visit to our warehouse project,
PEROLA SA, in Santos was unfortunately cancelled in
last minute due to torrential rains.
Whereas we do not anticipate any immediate impact on our
business in the area after this trip, we were able to make use of
the visits to further cement our relationship with a selected
number of close customers, who were invited to participate in
the functions, and in addition there is no doubt that the
Danish Ship Owners Association appreciated our active participation.
2nd from right, Vice Primeminister Bendt Bendtsen, 2nd from left, Danish Ambassador Christian Kønigsfeldt, thereafter
from left Claus Stahl, Niels Jørgen Laustsen, and Lars Mathiesen, all from Eitzen Bulk. Picture by John Allenby
3

Fouquet Sacop S.A.
For 60 years the French company Fouquet Sacop has developed
a coastal trade in oil products throughout the
Mediterranean. The company is undertaking a geographical
expansion and now employs its fleet further afield. The main
clients are Total, ExxonMobil, Shell, BP and ELF.
The company owns eleven vessels and has two more vessels
on bareboat charter with an average age of 2.25 years.
The company is situated in Marseilles, France and employs 34
people headed by CEO and President Christian Garin.
Welcome to our new colleagues in Fouquet Sacop
Christian Garin, Chairman and CEO
Frederic Fievet, Fleet Manager
Christian Rouland, Commericial Manager
Alain Piette, Safety Manager
Sylvie Collange, Administration & Finance Manager
Florence Cuzzi, Legal Manager
Laurent Orsoni, Technical & New Building Manager
Yan Passerieux, Computer Manager
Marina Cahen, Public Relation Manager
Gregoire Cahen, Purchase Manager
Franck Fallet, Purchase Manager
Samantha Cartmel, Chairman's Assistant
Guillaume Goury, Data Processing Specialist
Phillippe Eymeric, Data Processing Specialist
Pascale Dugelay, Accounting Manager
Micheline Anzquer, Accounting Assistant
Ahn-Thu Thai Ngoc, Accounting Assistant
Alain Biache, Marine Superintendent
Denis Franc, Marine Superintendent
Alain Massot, Marine Superintendent
Dominique Roy, Marine Superintendent
Joel Maillet, Marine Superintendent
Pierre Gallavardin, Safety Officer
Richard Lacour, Safety Captain
Marc Sauvagnat, Safety Captain
Carole Fanara, Purchase Assistant
Beatrice Bourrelly, Purchase Assistant
Majid Belgour, Purchase Assistant
Malayvonne Kith, Assistant
Florent Orphanides, Senior Trading Assistant
Julien Rouen, Junior Trading Assistant
Monique Battani, Trading Assistant
Bruno Verley, Assistant Fleet Manager
Carole Godet, Assistant Crew
4 Eitzen News

Shore based gas engineer project
A global cooperative success within the Eitzen Group
By Simon Frank, Personnel Manager TESMA (Denmark)
Since the first Sigloo Gas vessels were
enlisted to the fast growing number of
Eitzen operated vessels back in 2004,
they have been a great challenge to all
the entities that have been involved in
their operation.
Especially all the cargo operations
involving ethylene have been forcing the
staff on board and ashore to maximize
the effort to get the best result. With the
commercial success that the ships represent,
they have, from day one, been trading
in tough schedules with a minimum
perspective for maintenance.
As a result the technical and operational
staff around the ships has been forced
to constantly think in innovative ways to
OPTIMISE THE EARNING
POTENTIAL for the ship owner.
Around mid 2005 one of these innovative
measures was created. It was decided
to establish a position called Shore
Based Gas Engineer (SBGE). The idea
was to establish a "task force" consisting
of 2-3 people that, from a base ashore,
were able to meet the ships in areas
where they were facing ethylene operations.
Their job would be to assist the on
board crew in the complexities connected
to the operation of the cargo cooling
facilities. Apart from that task they
should also, while on passage, train the
officers on board in how to use and optimise
these facilities.
The idea took its final form after a meeting
held at the officer conference in Saint
Petersburg in November 2005, and 1st
December 2005 the project was
launched. The first SBGE was Mr.
Mickovs who travelled between the various
Sigloo vessels. A few months later
the second SBGE, Mr Dedkovski, was
employed. These two SBGEs were taken
from our pool of already experienced
gas engineers and are working in a rotation
to ensure that one of them is always
on duty and ready to join a ship on a
short notice.
At this stage it is fair to say that the project
has been a success. The SBGEs have
been able to attend most of the ships
that have been carrying ethylene, and
they have been one of the most important
reasons that the accumulated off
hire in connection with cargo cooling
has been minimised.
The long term goal for the project is to
build up an experienced gas engineer
pool that can carry out the jobs on board
without assistance from a shore based
team.
No matter what, the project has proven
to be an example of good cooperation
between many parts from the Eitzen
Group, and we hope that this will be an
example for future projects and ideas
that can be launched in cooperation with
many parts of the Eitzen Group.
5

I hereby name you "SIGAS MARGRETHE"
By Anders Rasmussen, Managing Director Eitzen Gas
The naming ceremony of new building
No. 657 from Sasaki Shipbuilding took
place 18th August 2006 where Janne
Rasmussen, the wife to Managing
Director of Eitzen Gas Anders
Rasmussen, named yard No. 657
LPG/C "SIGAS MARGRETHE".
Unfortunately the name giving took
place in absentee as a typhoon took a
sudden change of direction and headed
straight towards Osaki-Kamijima Island
where the Sasaki Shipbuilding Yard is
placed and forced the vessel earlier in
the morning to leave the new building
berth and sail for the open sea. The ceremony
was moved to the Seifukan
Hotel which is located close to the yard
and right at the sea front, and after the
name giving ceremony "SIGAS MAR-
GRETHE" was passing close to the
Seifukan Hotel so the Godmother and
all guest was able to view the vessel. The
typhoon passed closed to the yard but
fortunately at reduced force and without
making too much damage.
"SIGAS MARGRETHE" is the first of
a series of three gas carrier new buildings
Eitzen Gas has taken on long term
charter with option to purchase from
Japanese owners. The next two will be
delivered in 2007. "SIGAS MAR-
GRETHE" is owned by Asuka Kisen of
Imabari with whom we have a long and
close relation to.
of 4300 mt VCM for discharging
Europe. "SIGAS MARGRETHE" is
expected to arrive in Europe the first
week of October where she after having
discharged the cargo from Taiwan will
enter a long term time charter with
Statoil.
Asuka Kisen had invited all guests to
stay at the holy Miyajima Island and
hosted a traditional Japanese dinner in
the evening at the Miyajima Grand
Hotel where the guests were wearing
kimonos.
"SIGAS MARGRETHE" is a 5.000
cbm pressurized LPG carriers with the
following main particulars:
Length over all 99,98 m.
Breadth 17,20 m
Draft 5,08 m
Deadweight 4970 mt
Main Engine MAN B&W
6L35MC (MK6)
Speed 15 knots
LPG/C "SIGAS MARGRETHE" passing in front of Seifukan Hotel during the naming ceremony
After the naming ceremony the Sasaki
Shipbuilding Yard hosted a lunch party
at the Seifukan Hotel where the yard,
owner and charter made a speech and
exchanged presents.
Eitzen Gas took delivery of "SIGAS
MARGRETHE" on time charter at
15.00 the same day at which time she
immediately commenced her three days
sea voyage to Taiwan for loading a cargo
6
Eitzen News

The Godmother Janne Rasmussen with "SIGAS MARGRETHE"
passing by in the back.
Dahei Sasaki, President
Sasaki Shipbuilding and
Anders Rasmussen, Managing
Director Eitzen Gas exchanging
company flags
The name giving dinner was hosted by Asuka
Kisen where traditional Japanese food was
served and all guests were wearing kimonos.
From l to r Sebastian Rasmussen, Godmother
Janne Rasmussen, Anders Rasmussen, Eitzen
Gas DK, Lisbeth Ackermann and Martin
Ackermann Eitzen Gas DK
From the naming party at Seifukan Hotel. From l to r back: Jakob Bode, Eitzen Gas, Singapore, Morten
Bromose, Sidsel Bromose, Camillo Eitzen DK, Reidun Polden, Eitzen Gas DK, Ole Refsum, Fearngas, Oslo,
Lisbeth Ackermann, Martin Ackermann, Eitzen Gas DK, Henrik Hyldahn, Camillo Eitzen & Co
From l to r front: Daihei Sasaki, Sasaki Shipbuilding, Hetty Bode, Masaki Kurokawa, Asuka Kisen, Sebastian
Rasmussen, Hironobu Bekku, Asuka Kisen, Godmother Janne Rasmussen, Anders Rasmussen, Eitzen Gas DK
and Jiro Sasaki, Sasaki Shipbuilding
7

EMS - Global approach
A star is born
By Annette Malm Justad, CEO Eitzen Maritime Services
In Eitzen Maritime Services (EMS) we
want our customers to value us as a
global organization, meaning we will
deliver products and services of consistent
quality. In adopting the Eitzen
Brand Platform we recognize that our
common key values shall be the fundament
of the way we work, and a hallmark
will be to draw on common experiences,
acting in a local market.
EMS acquired Polaris Insurance Broker
AS on 1st July 2006. Polaris has a long
experience as marine insurance broker,
and their services include placing insurances,
handling all documentation, and
assisting customers with claims handling.
Insurance represents an area
requiring specific competence, and this
acquisition is an important element in
developing EMS as a maritime service
provider.
Being a global service provider means
teamwork across units and countries. In
TESMA this means close cooperation
between TCCs and CCCs. To facilitate
this cooperation we will need to utilize
common systems and structures, this is
the reason for TESMA to adopt a common
platform in selected areas, and the
only way to improve this is to learn
from our common experience. A key
challenge for a global organization
located in different countries and time
zones is to be able to identify best practices
and transfer this knowledge to others.
The TESMA global team is an
important driver in this process, and an
example of such a best practice transfer
is the series of works-shops now ongoing
in all our TCCs on loss prevention.
These works shops are conducted
together with Tryg and CECO, meaning
sharing experiences and knowledge
between insurer, ship owner and ship
manager, and similar sessions are also
part of the officer conferences.
The supply and logistics product area
within Stromme, has had high attention
on servicing TESMA vessels through
the established frame agreement, and a
seminar between key sales representatives
from Stromme and purchasers
from TESMA with the purpose of
exchanging views and experiences has
given Stromme quite some insight into
their customers concerns and needs.
This will not only be to the benefit of
TESMA, but certainly also for
Strommes other customers, and this is
best practice transfer in real life.
By Terje Ask-Henriksen, CEO Stromme Holding AS
In April 2006, the merger between
Strømme ASA and TESMA Holding
AS became true, and Eitzen Maritime
Services ASA (EMS) was established. A
clever strategic move, initiated by
Camillo Eitzen & Co ASA (CECO).
The main driver for this merger is the
strong belief of a consolidation of the
business and the synergies between the
two business areas. We have later experienced
the next step in this consolidation,
the acquisition of Polaris
Insurance. Stromme is very happy with
the merger with TESMA. To work this
close with an actual user of our products
and services gives us a unique competitive
edge to win in the future markets.
It will add more business and we
can bring synergies through common
procurement and marked needs.
Strømme Ship Service AS was established
in 1971 as a supplier of technical
marine equipment. The subsidiary in
UK was established 1983 followed by
Singapore in 1992. Since then more
companies have joined the group, Hans
K. Madsen BV in Rotterdam became
Stromme-Madsen in 1997, Nauteknik
AS, in Oslo (1999) and ITS AS in Oslo
(2000). In 2001 Stromme merged with
8 Eitzen News

publicly listed Teco Maritime ASA and
changed name to Stromme-Teco ASA.
In 2002 Hoff-Ship Service, Hamburg,
was aquired and Teco was divested and
sold. Norwegian Maritime Equipment
AS at Husnes in Norway was the latest
acquisition in 2005.
Before the company changed name to
Eitzen Maritime Services ASA following
the merger with TESMA, Stromme
was listed at the Oslo Stock Exchange as
Strømme ASA.
Stromme decided two years ago to actual
manufacturing and to expand the
business by developing a range of
Stromme branded marine products, and
based on the long experience from technical
ship supply Stromme developed
product specifications for a whole range
of marine products ranging from
lifeboats, fast rescue boats to compressors,
high pressure cleaning machines
and fresh water systems. The product
range is being developed to meet the
demand of our customers in all areas of
the marine industry. There is still work
to be done to further "streamline" and
develop the strategy for further expansion
through our sales network and new
agents. "On time - guaranteed" is the
lead star for Stromme Marine Products.
We are well known by our customers to
not only deliver on time, but help them
to find items which are not so easy to
find such as critical spare parts for
engines, pumps, cranes, compressors
and generators. Our customers expect
us to deliver basically everything a ship
may need from safety equipment to
standard technical products, tools and
consumables, provisions and bonded
stores to television and radios and personal
hygiene products. "Saves you
time" is the leading star for Stromme
Marine Supply and Logistic.
We are exited by the opportunity to
expand our business as part of EMS
and the Eitzen Group - an unique position
for success! Stromme will improve
and strengthen its position as a leading
supplier of marine products and services
to the marine marked around the
world. On time - guaranteed.
9

The Goa officers conference
By Errol Lobo, General Manager Seatrain Inc.
The 10th TESMA officers conference
in India was held at Goa Marriott, a
resort, squeezed in between lush green
fields and moody monsoon seas, overlooking
the beautiful Mandovi River in
Goa. The participants included some 50
odd Indian senior, junior officers and
cadets from within the TESMA pool,
representatives from the various management
offices in Copenhagen,
Mumbai and Singapore and Selandia
Marine Services Mumbai.
The evening of the 19th June 2006, was
informal cocktails and dinner where
introductions were exchanged and many
a lost friendship was rekindled, and the
next day the conference was opened by
Ralph Helmer-Juhl Crewing Director of
TESMA who delivered the official welcome
address. In doing so he briefly ran
through the reasons for holding seminars
of this type where the aspect of
having a high level of interaction
between the seafarers and office staff
would as always return with very high
dividends.
The first speaker on the dais was Simon
Frank, Crewing Manager TESMA
Denmark who spoke about the manning
situation drawing a comparison
based on the needs and requirements of
seafarers which has undergone a sea
change over the years.
Next in line was Ms. Ingrid Joshi of
Instone the travel arm of TESMA who
enlightened the seafarers on the aspects
of travel and what transpires behind the
scenes to ensure that they the seafarer
sign on and off the vessel in the
smoothest possible way. Blackouts
interspersed added in short bursts tried
to disrupt the proceedings but Ingrid
kept to her topic and time very efficiently.
The safety & quality department of
TESMA had representations from most
of the offices by the presence of Elton
Barneto, Søren Vest, Y. Tham and Claus
Holm at various stages of this conference.
The seafarers were initially provided
with an insight into the basics of the
Master's & Management's review -
evolving from the agenda - where the
minimum contents to be addressed
were spelled out to what goes on behind
the scenes within the offices once a
Master's review as an example has been
received. A promise was dished out stating
that replies to Master's reviews
would reach the vessel within 14 days of
their inception within the office.
The S&Q fever was put to rest by Claus
Holm who sealed close any apprehensions
that still remained with respect to
the digitization of the company's safety
management system by Ulysses.
The Owner's perspective was brought
forth on the morning of the second day
by John Hughes, CTO of CECO, who
as usual with his very apt screens and
anecdotes facilitated the seafarers
through 45 minutes of what has been
the achievements within TESMA in the
past year covering both the positive as
well as the negative aspects and ending
with a flourish by letting the seafarer
know what lay in store for him in the
year to come.
Technical support was represented by
Svend Anthonsen Technical Manager of
TESMA Denmark who over the years
has become synonymous with the technical
address at these seminars. And it
was Svend once again who took over
the mantle of telling the seafarers, how
the technical department and the management
in general felt about their
onboard performance.
The external arm to the seminar was
provided by Mr. Chandrasekharan of
Lloyds who put forward the aspects of
Marpol Annex II. A lot of information
was embedded within this presentation
enlighting the few who were presently
serving on board the chemical fleet as
well as those seafarers aspiring to make
a shift over to the chemical stream.
The seminar was closed by addresses
from John Hughes, Mogens Worre
Sørensen and Sanjay Srivastava stating
that this seminar delivered in entirety its
reason for being held and none would
have been possible if it was not for the
high level of interaction as provided by
the seafarers, and thanks were meted
out to those responsible for organizing
this seminar.
10 Eitzen News

Officers conference in Latvia
By Aleksandr Meiler, Managing Director TESMA Crewing
The 6th TESMA Baltic-Russian officers
conference was convened at Baltic
Beach Hotel in Jurmala, Latvia in June
2006. The participants included about
50 senior officers from the Baltic States,
Russia and Ukraine and senior CECO,
EMS and TESMA executives from
Oslo, Copenhagen, Mumbai and
Singapore.
TESMA Crew Management General
Manager Mihkel Vokk delivered the
welcome address and initiated the proceedings
by introducing the delegates
after which the conference was under
way.
The owner's opening was made by
CECO Technical Controller Bertil
Rognes, who gave a talk on the company's
mission and vision, then the focus
was directed to insurance issues and a
presentation made by Jeppe Guld from
TRYG was followed by exercises involving
the seafarers.
The second half of the day commenced
with the split session in chemical and
gas divisions, where Eitzen Chemical
was presented by Arent Skjolborg and
Lars Skjødt, and Eitzen Gas by Nete
Egebjerg and Henriette Kemp, and the
participants were engaged in interactive
discussions on commercial and operational
issues.
The first day of the conference ended
with a dinner in the restaurant with the
nice view on the Riga Bay, and on the
next day Simon Frank was welcoming
and after this the participants were
involved in discussion of the topic
"Today's maritime world and new
requirements to the seafarers".
The second day of the conference saw
also two interactive sessions, when the
technical and safety issues were discussed.
The safety related topics were
presented by TESMA Singapore Marine
superintendent Prakash Sawardekar and
TESMA Denmark SQE Coordinator
Jens Nielsen who shared their knowledge
and experience with the participants
on vetting inspections, port state
control, new requirements and other
safety issues.
TESMA Denmark Technical Manager
Svend Anthonsen addressed to the participants
a wide range of technical
issues, including the budgets and new
Marpol regulations. He elaborated on
the topics by illustrating the examples
and offering the solutions, and concluded
the presentation stressing the importance
of forethought and planning in all
areas to achieve the positive result.
Altogether the participants found that
the presentations at the conference and
the topics discussed were important,
valid and effective.
11

Launching of M/T "FS SARA"
By Christian Garin, Chairman & CEO Fouquet Sacop
The christening and naming ceremony
of M/T "FS SARA" took place in
ADIK Shipyard in Tulsa, Turkey on
31st August, 2006.
Chairman and CEO Axel C. Eitzen
attended to the ceremony together with
General Manager of Eitzen Chemical
Jens Grønning, and the Fouquet Sacop
team was headed by Chairman and
CEO Christian Garin and Commercial
Manager Christian Rouland.
"FS SARA" main particulars are the following:
8200 dwt, loa 120m, draft 6.1m
IMO II CPP Clean Ship being classified
by Bureau Veritas and having a service
speed of 14,5 knots with a Framo cargo
system.
"FS SARA" will replace "FS
PROVENCE" on her trade in the
French Caribbean, the ship's name
being given as usual with Fouquet style
after a women Christian name being
identical to the name of the local refinery
SARA owned by TOTAL Group in
Martinique and being our charterer, and
the contract runs for several years.
TOTAL head of shipping Bertrand
Thouillin attended the party, and Lady
Sponsor Mrs. Estelle Cedille from
TOTAL Trading, Geneva did her job
very well, but high winds prevented the
ship to be launched until the following
morning when finally she reached without
problem her natural element.
Our Turkish friends of the yard and all
members and guests of the Eitzen
Group had the honour of the presence
of the Turkish Minister of Transport
who made a highly appreciated, and
partly in English, speech before the
Christening by the catholic Father.
Reward for M/V "SIBULK DEDICATION"
By Anders Wulff, Senior Operations Manager Eitzen Bulk
In the morning 8th March the Brazilian grateful for the prompt attendance and
Navy contacted the M/V "SIBULK assistance. Actually the Brazilian Navy
DEDICATION", in ballast towards did award the ship a reward, and the
Montevideo to load a full cargo of logs, captain and the owners were invited to a
and asked the captain to divert towards ceremony in Rio de Janeiro on the 12th
M/V "BUSSARA NAREE", which vessel
was in distress about 70 nm SE of owners, our Lars Mathiesen of Eitzen
June, and on behalf of the captain and
our vessel.
Bulk, Rio de Janeiro, received the
The captain managed to get in contact reward.
with the captain of "BUSSARA
NAREE" via MF 2182 Khz., and he
informed that his vessel was not in distress
anymore, and was able safely to
continue her voyage. Upon relaying this
information to the Brazilian Navy, the
"SIBULK DEDICATION" was free to
continue her voyage as well.
Even though a happy ending on a distress
signal, the Brazilian Navy was very
On the 1st August, the "SIBULK
DEDICATION" was discharging a full
cargo of logs in Tofte, Norway, and
Nina Eitzen and Niels Jørgen Laustsen
attended this perfect opportunity to
hand over the reward to the captain.
From Eitzen Bulk also a big thanks to
the captain for exemplary conduct of
duties.
Captain Jamshed Rustom Karai receive the reward
from the Brazilian Navy by Manageing Director
Niels Jørgen Laustsen, Eitzen Bulk A/S
12 Eitzen News

Visit to Baan Chivit Mai
By Jens Grønning, Managing Director Eitzen Chemical
Readers of Eitzen News - edition 5 - will
recall that employees and business
friends of Eitzen Group, (CECO) and
the Eitzen Foundation gave their generous
support for an orphanage in
Thailand - the Baan Chivit Mai project
(BCM). The funds generated from
above is being used to create a new
home for children who would otherwise
be living in remote locations far from
schooling, be orphaned or even victims
of prostitution or drug trade.
During my summer holiday with my
family, we were fortunate to experience
first hand the Baan Chivit Mai, and we
also visited the project which CECO is
supporting and building, the Mae Chan.
The main orphanage under the Baan
Chivit Mai project is called Hua Dong
and is located in the outskirts of Chiang
Rai in North Thailand, whereas the Mae
Chan is located about 25-30 km north of
Chiang Rai, not far from the Burmese
(or Myanmar rather) border. We visited
the Hua Dong on a Sunday morning and
were welcomed by Mr. Tawai Sawapitak,
General Manager of BCM. On Sunday
mornings, all the children of Hua Dong
- about 70 in total - gather to sing. It was
a very special experience to see and hear
these children, and to reflect on their
previous fate - some of them having lost
their parents, some of them struggling
with AIDS (but being treated in the
orphanage) - a very touching and
rewarding experience. These children
have indeed been offered a fresh start
and a chance to create a meaningful life
for themselves.
Later that day, we visited the Mae Chan,
and were again welcomed by the children
and staff. As the pictures illustrate,
four out of five houses are nearing their
completion, and it was very clear that
the children - now living in more simple
surroundings one km from there - was
looking very much forward to moving to
this location, where they will be self-sufficient
growing their own vegetable, rise
etc. During our visit in Mae Chan, we
were again reminded by the "luggage"
that some of them carry from the past.
Two twins were there after recently having
lost their mother (father being in jail
for drug trade), and it was life-affirming
to know that they will be receiving a
youth with lots of love and friendship.
We left with a feeling of deep respect for
the people who are working and supporting
this, going back to Mrs. Eva
Olofsson, a Swedish lady who has dedicated
her life to helping children in need,
and we really feel that Eitzen Group's
involvement will make a difference.
13

New Singapore office
By Guy Gowrie Smith, Chartering Manager Eitzen Bulk
After six years in Marina House on
Shenton Way, the Camillo Eitzen office
has in June, 2006 been relocated to level
35 of Millenia Tower. Located in the
hotel, office and entertainment precinct
of Suntec City, Millenia Tower is just 15
minutes from Changi Airport, and the
striking 218m tower is placed at the traditional
gateway to Singapore with the
Kallang Rivers and Singapore Rivers
passing either side. The top 10 of the 41
floors have octagonal 'turrets' at each
corner which we have utilised as our
board room and our south facing office
makes the most of the view to the sea
and Indonesian Riau Islands. Millenia
Tower is easily recognizable by its four
sided pyramid roof which is the highest
point in Suntec City.
Other marine related tenants in the
building include R.S. Platou
Shipbrokers, Celeste Holdings Pte Ltd,
Tanker Pacific and Songa Shipping, so
we are not alone in enjoying the position
and the ocean views.
Millenia Tower is the centrepiece of a
development composed of a sister
office building, Centennial Tower and
the 600 room Ritz Carlton Hotel. It was
designed by the architect Kevin Roche,
who is seen to follow in the footsteps of
the architects Ludwig Mies Van Der
Rohe and Eero Saarinen. His other
works include the United Nations Plaza
and The Metropolitan Museum of Art
in New York, Shiodome City Centre in
Tokyo and corporate headquarters for
J.P. Morgan, Merck & Co. Inc, Conoco
Inc., Union Carbide Corporation and
John Deere & Company.
In just over two months we have had
many visitors to the office, but we look
forward to welcoming many more!
14 Eitzen News

Bunkering day
By Fridtjof C. Eitzen, Eitzen Bulk
Early in the morning, on 2nd
September 2006, we gathered for a
bunkering excursion arranged by Oil
Purchasing Manager Flemming
Rasmussen. Staff from all Copenhagen
segments of the Eitzen Group had
signed up for the excursion, which was
meant to give us an impression of what
bunkering really embraces.
The trip was started by visiting the
bunker storage facilities located at
Prøvestenen. After a quick morning
snack we were introduced to the OW
Bunker organization by Sales Manager
for Physical Supplies Mr. Henrik
Johnsen. We were then given a guided
tour around the premises and the tank
storage facilities. There were a total of
15 tanks with a total storage capacity of
more than 200.000 metric tons. The
tanks, which are controlled by
Copenhagen Oil Service contains both
heavy and lighter oil products, equipped
with heating systems to keep the heavier
fuel warm and circulating. If not heated,
the heavy fuel would more or less solidify,
and the process of pumping the oil
through pipes would be inefficient, if
not impossible. We also saw a ”blender”
which could with great precision mix
different types of oil products, to match
of each client's specific requirements.
The bunker fuel oil, which is derived
from crude oil first goes into storage,
this being followed by blending into the
final product oil before being transported
into the OW supply-ships for delivery
to the vessels. There is a great
amount of testing and analyzing during
the process in order to assure correct
product quality, and we visited the
Saybolt laboratories where much of the
fuel samples are tested. Is the sulphur
level to high? Is there a risk of the fuel
not working properly when mixed? Is
the heavy metal residue level acceptable?
All this, and much more is what an
analysis can determine.
After the tour around the Prøvestenen
facilities, we were escorted out to experience
a live bunkering as the bunkership
"BREEZE" was supplying a larger
cruise-vessel with IFO.We boarded the
vessel and the Captain gave us a short
introduction. The officers and crew of
the "BREEZE" had first hand knowledge
of reducing oil-spills in case of
emergencies, and it was interesting to
see that the vessels computerized test
panel could test the quality of the oil
whilst the fueling was in progress.
The excursion was concluded in
Nyhavn with a lunch at the restaurant
Told & Snaps and the wonderful
arrangement with social mingling was a
great success. We learnt a lot and
enjoyed doing it. So finally a special
thanks to Flemming for arranging such
a great day.
Bunker barge "BREEZE" alongside bunkering
the MSC "LIRICA"
Connecting the fuel line prior to bunkering
Sales Manager for Physical Supplies
Mr. Henrik Johnsen, giving an
introduction to the "blender"
15

Graduation of trainees
By Nicolai Ladewig, Eitzen Bulk
At a graduation ceremony held at the
Danish Shipowners Association's office
in Copenhagen on 23rd June 2006 Arne
Lange and I received diplomas for having
successfully completed the special
theoretical shipping course at Esbjerg
Handelsskole.
The course is divided into eight modules
of one week each and is meant to
give the students a broad knowledge of
the general terms and conditions for
tramp and liner shipping as well as forwarding.
The last week was spent on
preparing a study on topics chosen by
the students themselves.
Simultaneously with the above theoretical
course Arne and I have received
practical training in the day-to-day
working procedures through rotation
within the chartering, operations and
operations/control sections for a period
of two years.
Diplomas were presented by Kim Bo Skøtt from Business Academy at Esbjerg Handelsskole to Nicolai
Ladewig and Arne Lange
On 31st July 2006 Arne and I completed
our traineeship with Eitzen Bulk and
received the customary Cross pen at a
short staff gathering. The two years
traineeship has given us a good impression
of the shipping world, and we feel
well prepared for the next real challenges
waiting ahead - the actual shipping
job.
16
Eitzen News

Summer weekend getaway
By Daniel Ng, Chief Representative Eitzen Bulk
The wine and scenery in China could be
just as good as anywhere else in Europe.
This was what the Eitzen Bulk Beijing
Rep Office folks found out during a
weekend getaway in July at the Bodega
Langes vineyard, a 3-hours drive away
east from Beijing, and very close to the
beach front resort area nearby
Qinhuangdao.
It was a pleasure that Mr. Xu of
Brownstone and Larry of Great Wall
Shipping, together their family were
able to join us for this trip. From beach
soccer to midnight snooker challenge,
from good food and wine to fresh
countryside air, everyone had a great
time there. Thanks to the good weather
too, the group managed to take loads of
photographs, capturing the beauty of
Mother Nature, as well as candid shots
of happy faces and movements.
Even before the weekend was over, the
group was already looking forward to
the next outing, and everyone unanimously
agreed that it was a weekend
well spent, as it provided a good opportunity
for camaraderie and bonding to
be strengthened between the Eitzen
Bulk, Beijing team and with its customers.
Resting after a tiring beach football match
Best goalie in town
From left back - Tang (Jane's hubby), Jane, Ma Jing (Wang's
wife), Wang Dong, A Bao (Larry's Girlfriend), Larry, Xu from
Brownstone, Danny, Li; from front left - Angie, Ma Ling (Li's
wife), Xu's Son, Mrs. Xu.
17

Delivery of gas vessels
LPG/C Sigloo Moon
The vessel was delivered to Eitzen Gas
A/S at Vada, Italy 14th May 2006. After
her first voyage hereafter with a full
cargo of ethylene from Jubail, Saudi
Arabia for Anyer, Indonesia, this picture
was taken off Singapore.
LPG/C Sigloo Star
On delivery to Eitzen Gas A/S at
Aruba, Netherlands Antilles 7th August
2006, and on her first voyage under
ENGC Operation vessel is proceeding
up the river to Santa Clara, Brazil where
to load a cargo of ethylene destined for
Stenungsund, Sweden.
DHL Relay
By Jette Buhelt Olsen & Thomas Lindgren Jensen
This year the Eitzen Group was proudly
represented at the DHL Relay in
Copenhagen by four strong teams - a
total of 20 runners from different segments
of the Eitzen Group. Each runner
had 5 km to complete with the
baton in hand before passing it on to
the next team member. All four teams
finished in style with great results ranging
from 1 hr. 59 min. 19 sec. to 2 hrs. 27
min. 28 sec.
To assist the runners in cheering for
their team-mates a large group of Eitzen
supporters came out, helping to make
this another great Eitzen event. We hope
to repeat the success next year represented
by even more teams and supporters.
18 Eitzen News

Camillo Eitzen & Co, Oslo
Camillo Eitzen (Denmark), Copenhagen
Personalia
Andreas Reklev, 17.07.2006 Assistant to CFO
Stephen N. Lamb, 07.08.2006 Legal Counsel
Håvard Lillevik, 01.08.2006 IT Service Manager
Hanne Holm, 01.09.2006 Secretary
Christinna Vangsgaard Jørgensen, 01.08.2006 Office Junior
Rikke Linding Olesen, 01.09.2006 Financial Controller
Anders Kobbernagel, 01.09.2006 Oil Purchase Assistant
Eitzen Bulk, Copenhagen
Kristian Wikkelsøe Schmidt, 01.08.2006 Trainee
Mikkel Marconi, 01.08.2006 Trainee
Eitzen Chemical, Copenhagen
Søren Hempel, 04.09.2006 Assistant
Operations Manager
Eitzen Chemical, USA
Jan M. Hansen, 01.07.2006 General Manager
Eitzen Chemical, (Spain)
Fidel Martinez Molina, 01.08.2006
Operator
Eitzen Gas, Copenhagen
Reidun Polden, 01.07.2006 Chartering Manager
Mette Birger Rulis, 01.08.2006 Operation Manager
Eitzen Maritime Services, Oslo
Knut Abrahamsen, 21.08.2006 Chief
Financial Officer
TESMA, Edinburgh
Nina Russell, 19.06.2006 Accounts Assistant
Nadeem Sarwar, 07.08.2006 S&Q Manager
TESMA, Copenhagen
Anne-Lise Sørensen, 01.08.2006
Assistant Superintendent
TESMA, Mumbai
Kalyani Gurav, 09.06.2006 S&Q Executive
Jude Fernandes, 12.06.2006 Technical Superintendent
TESMA, Singapore
Alice Jose, 21.06.2006 Secretary
Tan Yek Mei, 26.06.2006 Accounts Executive
Supartino bin Abdul Rahman, 03.07.2006 IT
Coordinator
Khay Mar Htay Berthelsen, 20.07.2006 Purchasing
Officer
TESMA Crewing Management, Riga
Vladimir Kunichkin, 03.07.2006 Training Manager
TESMA Crewing Management, Tallinn
Peter Järvsoo, 15.07.2006 General Manager
Andrei Uljashev, 01.08.2006 Crewing Specialist
Promotions
Camillo Eitzen (Denmark), Copenhagen
Mette Lund Hansen, 01.09.2006 Chief Financial
Controller
Inge Andersen, 01.09.2006 Senior Financial Controller
Eitzen Chemical, Copenhagen
Thomas Voss, 01.07.2006 Senior Chartering Manager
Lars Skjødt Petersen, 01.07.2006 Senior Operations
Manager
Eitzen Gas, Copenhagen
Anne Kok, 01.10.2006 Marketing Manager
Eitzen Gas, Singapore
Christopher Holmes, 07.07.2006 Operations Manager
TESMA, Singapore
Joanne Chua, 01.07.2006 Assistant Accountant
Jacqueline Chan, 01.07.2006 Senior Accounts Executive
Sritaran Ramesh, 01.07.2006 IT Administrator
Shamsul Bahrin, 01.07.2006 Manager Ship Support IT
19

Danish Shipping Golf Cup
After last years success where Per Colberg Olsen
from the Eitzen Bulk won the open event we had
a lot to live up to, and always ready for a challenge
we put together a new team for this year's event,
consisting of Mads Damsgaard, Eitzen Bulk and
Fridtjof C. Eitzen, staying with Eitzen Bulk in
Copenhagen for a three months' familiarization
stint.
Having won the open event last year, the team
made a decision to focus on the other parts of
the competition and with a great result, as
Fridtjof C. Eitzen won the longest drive competition
and the double magnum champagne that
went with it.
Mrs. Vibeke Højsgaard wife to Erling Højsgaard organizer of
the event, presenting the prize for the longest drive to Fridtjof
The Group Head Office Oslo, Norway
The Commercial Head Office Copenhagen, Denmark
Facts on Eitzen Holding AS
Eitzen Holding AS is the privately owned holding company of Axel C. Eitzen, who is engaged in shipping activities through Camillo Eitzen
& Co ASA and non shipping activities through Eitzen Invest AS.
Eitzen Invest AS operates primarily through daughter
companies for each area of investments. Such daughter
companies include: Camillo Energy, Camillo Trading,
Camillo Eiendom, Camillo Marine, Ollimac Finance, and
industry through Hydranor AS.
Camillo Eitzen & Co ASA (CECO) operates globally
through following business units: Eitzen Bulk, Eitzen
Chemical, Eitzen Gas, Eitzen OBO and Eitzen Tank.
CECO is the majority owner of the stock listed company:
Eitzen Maritime Services ASA (EMS). EMS provides ship
management, officer and crew management through
TESMA and other services like marine equipment, supply
and logistics through Strømme.
CECO employs (directly or indirectly) a staff of approximately
450 and together with partners/associates controls
more than 150 vessels representing dry-bulk and
OBO carriers, chemical and gas carriers. TESMA provides
technical management services to a fleet of more
than 80 ships and crew management to in excess of 150
ships deploying some 1,700 seafarers.
For more details on CECO's business activities and on
the fleet, see
www.eitzen-group.com