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Annual Report 2012

Annual Report 2012

Description of Eitzen

Description of Eitzen ChemicalOverview of Eitzen ChemicalEitzen Chemical ASA (“Eitzen Chemical” or “the Company”) is a leading marine chemical and related productstransportation company with a sailing fleet of 50 vessels as of year-end 2012. The Company transports a widevariety of cargoes such as organic chemicals, non-organic chemicals, clean and dirty petroleum products,vegetable oils and lube oils. The fleet consists of coated and stainless steel vessels ranging from 3,500 to48,000 dwt, primarily designed for the transport of IMO II classified chemical cargoes. The vessels areemployed in the spot market or chartered out through time-charter agreements or Contracts of Affreightment(CoAs).The fleet comprises 50 vessels, of which 46 vessels are owned or on finance lease and four vessels are onoperating lease. Eitzen Chemical operates one of the industry’s most modern chemical tanker fleets with anaverage age of less than eight years for the owned and leased vessels.The vessels are commercially operated through offices in Denmark, Spain, USA and Singapore. The commercialoffices communicate on a common IT platform, which includes global voyage management andcommunication systems to ensure that commercial activities are co-ordinated and optimised between thevarious commercial offices. The technical management of the owned vessels is handled by Selandia, V. Shipsand Thome Ship Management. Eitzen Chemical has a global presence as illustrated in the figure below.Eitzen Chemical officesOur vision and mission statementOur vision:Superior commitment to customers and quality creates value.Mission statement:We are an ambitious global organisation with focus on:• Safety & environment• Customers• Quality• People• New thinking• Being proactive4

Overview of the Eitzen Chemical fleetThe fleet consists of various types and sizes of chemical tankers, with focus on the segment between 3,500 and48,000 dwt. Cargo segregations vary from 12 to 30, and the fleet consists of both coated and stainless steelvessels. Of the owned and leased fleet at the end of the year, 28 were coated and 22 were stainless. With anaverage fleet age of less than eight years, Eitzen Chemical operates one of the most modern chemical fleets inthe world.Of the vessels operated by the Company, 36 are owned through subsidiaries in Singapore and Norway. 14vessels are chartered in on time-charter or bareboat basis (most of them with purchase options). The vesselswhich are chartered in are classified as finance or operating leases in the Company’s financial statements.Owned vesselsVessel Built Dwt Flag Ship owning companySiteam Adventurer 2007 46,026 Singapore Eitzen Chemical(Singapore) Pte. Ltd.Siteam Explorer 2007 46,026 Singapore Eitzen Chemical(Singapore) Pte. Ltd.Siteam Voyager 2008 46,017 Singapore Eitzen Chemical(Singapore) Pte. Ltd.Siteam Leader 2009 46,017 Singapore Eitzen Chemical(Singapore) Pte. Ltd.Siteam Discoverer 2008 46,005 Singapore Eitzen Chemical(Singapore) Pte. Ltd.Siteam Anja 1997 44,640 Marshall Eitzen ChemicalIslands (Singapore) Pte. Ltd.Sichem Eagle 2008 25,421 Singapore Eitzen Chemical(Singapore) Pte. Ltd.Sichem Falcon 2009 25,419 Malta Eitzen Chemical(Singapore) Pte. Ltd.Sichem Hawk 2008 25,385 Malta Eitzen Chemical(Singapore) Pte. Ltd.Sichem Osprey 2009 25,431 Malta Eitzen Chemical(Singapore) Pte. Ltd.Sichem Defiance 2001 17,396 Marshall Eitzen ChemicalIsland (Singapore) Pte. Ltd.Sichem Rio 2006 13,162 Italy Eitzen Chemical(Singapore) Pte. Ltd.Sichem Edinburgh 2007 13,153 Singapore Eitzen Chemical(Singapore) Pte. Ltd.Sichem Singapore 2006 13,141 Italy Eitzen Chemical(Singapore) Pte. Ltd.Sichem Manila 2007 13,125 Singapore Eitzen Chemical(Singapore) Pte. Ltd.Sichem Paris 2008 13,079 Singapore Eitzen Chemical(Singapore) Pte. Ltd.Sichem Hong Kong 2007 13,069 Singapore Eitzen Chemical(Singapore) Pte. Ltd.Sichem Beijing 2007 13,068 Singapore Eitzen Chemical(Singapore) Pte. Ltd.Sichem Montreal 2008 13,056 Singapore Eitzen Chemical(Singapore) Pte. Ltd.Sichem New York 2007 12,945 Singapore Eitzen Chemical(Singapore) Pte. Ltd.Sichem Melbourne 2007 12,937 Singapore Eitzen Chemical(Singapore) Pte. Ltd.TechnicalMgmt.Coating IMOThome Epoxy / Zinc IIThome Epoxy / Zinc IIThome Epoxy / Zinc IIV-Ships Epoxy / Zinc IIThome Epoxy / Zinc IIThome Epoxy II/IIIV-Ships Epoxy IIV-Ships Epoxy IIV-Ships Epoxy IIV-Ships Epoxy / Zinc IISelandia Stainless Steel IISelandia Epoxy IISelandia Marineline IISelandia Epoxy IIThome Marineline IISelandia Epoxy IISelandia Epoxy IISelandia Epoxy IIV-Ships Epoxy IIV-Ships Epoxy IISelandia Epoxy II5

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