Heritage
1890
Captain Berent Daniel Olsen moves to Bergen with his family to become part of modern shipping: steam and steel.
What started as a Norwegian family business with one vessel, is now a publicly listed company and a world-leading logistics service provider for chemicals and other specialty bulk liquids. The chemicals and liquids Odfjell ships carry and our terminals store are vital building blocks for a wide range of everyday products.
Most of the products we use in our everyday life are made by using chemicals – from the clothes we wear to the water bottle we drink from, and the medicine we sometimes take. Our job is to transport and store these chemicals, and to make sure that our customers all over the world get them delivered safely, efficiency, on time.
Sounds easy – but the logistics behind the perceived simplicity of this task are immensely complex. Around 2300 colleagues around the world work to secure safe and reliable storage and coordinate the transport of more than 400 different chemicals, each one requiring special handling.
We continuously search for ways to improve our services and take the best care of our customers, our partners and investors, our staff and our environment. The expertise of our people makes all the difference.
Heritage
Captain Berent Daniel Olsen moves to Bergen with his family to become part of modern shipping: steam and steel.
Registration
The first Odfjell ship-owning company is formally registered on November 17, 1914, AS DS Birk. In 1915, the Odfjell brothers, Fredrik and Abraham Odfjell, incorporated AS Rederiet Odfjell.
Tanker trade
In 1921, the company makes a brief entry into the tanker trade with the SS Vaarli, rebuilt as a tanker. The next entry comes in 1938 with the newbuilding MT Lind.
World War II
The fleet is split: three ships in home waters and four on high seas. Odfjell helps keep supply lines open for the Norwegian population under German occupation and makes crucial political and economic contributions.
The 'Bow' prefix
The prefix ‘Bow’ is used for the first time on an Odfjell vessel. The ship is named in honor of IFC President Bowers, with whom Odfjell had a partnership at the time. This marks the beginning of a new ship-naming tradition.
Specialized tankers
Small specialized tankers are becoming increasingly important. Odfjell continues to pursue two paths: the general cargo liner trade and the operation of small tankers capable of carrying sulfuric acid.
Chemical tankers
In 1960, the world’s first purpose-built stainless tanker, MT Lind, is delivered. Over the decade, the focus turns to the global chemical tanker business. This period is characterized by rapid growth and considerable technological developments.
Marketing organization
Dan Odfjell establishes Minde Chartering, Odfjell’s own marketing organization, an important step towards making Odfjell a fully integrated shipping company. Minde Chartering quickly becomes a key broker within the chemicals trade.
First tank terminal
The first Odfjell tank terminal opens: TAGSA in Buenos Aires. This is a natural extension of the business, offering infrastructure that optimizes fleet utilization and provides a better, more integrated service to customers.
Split & grow
In 1970, the new headquarters opens and the business is split into two parts: AS Rederiet Odfjell for shipping and Odfjell Drilling for offshore oil exploration. In 1979, the company is split into two independent parts, one for each branch of the family.
Extensive newbuilding program
The first 12 Polish-built chemical tankers are delivered over a 26-month period from 1975. The fleet is now capable of handling hundreds of different liquids, from conventional chemicals and acids to lubricants and wine.
Consolidation & growth
A partnership with Westfal-Larsen leads to the acquisition of second-hand tonnage and the opening of the Baytank in Houston in 1983. To fund these investments, Storli, the new group’s holding company, goes public at the Oslo Stock Exchange in 1986.
Filipino crew
The cost disadvantage of using a full Norwegian crew becomes too heavy a burden in an increasingly crisis-ridden shipping market. Consequently, towards the end of the 1980s, ship crews become a mix of Norwegian officers and Filipino ratings.
State-of-the art newbuildings
16 new Norwegian-built stainless-steel chemical tankers are delivered: the Kværner series. NCC of Saudi Arabia replaces Westfal-Larsen as partner, and the Asian terminal footprint grows with a minority share in Vopak Terminal Ningbo in 1992 and the establishment of Odfjell Terminals Dalian in 1994. 50% of Flumar is aquired in 1999.
Name change
The parent company's name changes from Storli to Odfjell. The new logo is the three-link chain used as funnel mark since the 1980s, but now in a dark blue to underline the maritime background.
Growing business
A merger of Odfjell Tankers and Seachem makes the company the premier deep-sea chemical tanker operator in overall carrying capacity. Odfjell becomes a partner in terminals in the Netherlands, Singapore, Iran, China, Korea, Oman. Odfjell Philippines, Inc. is established and Odfjell becomes 100% owner of Flumar in 2008.
Streamlining terminal portfolio
In 2011, Lindsay Goldberg (LG) becomes Odfjell’s new terminal JV partner. Odfjell joins as part-owner of Noord Natie Terminals in 2012, and the Charleston terminal opens in 2014. Odfjell Terminals is established as a wholly controlled holding company in 2018. Between 2016 and 2020, Odfjell exits all terminals except OTUS, OTK and NNOAT. In 2019, LG exits and Northleaf Capital Partners joins as new JV partner for OTUS.
Upgrading & renewing the fleet
Through the decade, several pool agreements and partnerships are entered into. Odfjell Gas Carriers is established in 2012 (dissolved in 2021). Energy efficiency gains traction, and major upgrades to propulsion systems begin in 2015. The biggest fleet renewal program in the company's history is initiated in 2017, and the first of the world's largest chemical tankers, Bow Orion, is delivered in 2019.
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Leading the decarbonization journey
The energy-efficiency program continues to grow and shows significant results. Odfjell sets ambitious climate targets in 2020, and places shipping's first Sustainability-Linked Bond in 2021. 2021 also marked a strategic shift to focus solely on deep-sea shipping. In 2025, Odfjell becomes the world's first to install suction sails on a chemical tanker. Another milestone is marked in 2026 when Odfjell establishes the first operational deep-sea green corridor between Brazil and Europe.