Odfjell

What Odfjell does

Odfjell SE is a Norwegian public limited company founded in 1914 and headquartered in Bergen, Norway, operating one of the world's largest fleets of stainless steel chemical tankers alongside an integrated network of bulk-liquid storage terminals. The company transports bulk liquid chemicals, acids, edible oils, and other specialty liquids for a customer base of approximately 600 regular clients, which includes virtually all major global chemical producers. Its fleet of around 80 vessels and terminals sited at strategic hubs (Houston, Charleston, Rotterdam, Singapore, Shanghai, Ulsan, Tangier, Cape Town, Paranaguá, and Santos) provide both deep-sea transportation and dedicated storage services, generating revenue through time charter contracts, voyage charters, and terminal handling fees.

The company's core technology stack combines purpose-built stainless steel tanker vessels with operational optimization platforms, including the Syroco digital twin for voyage planning and LiDAR wind data capture on rotor sail-equipped ships, alongside HxGN EAM for fleet maintenance. Odfjell's Heavy Pump Propulsion (HPP) and rotor sail retrofit program delivers approximately 20% fuel savings on retrofitted tonnage, and the company was the first shipping firm to issue a sustainability-linked bond in 2021, with DNV-verified carbon reductions exceeding 50% on certain vessels. Recent strategic priorities include a Brazil-Europe Green Corridor (launched December 2025), a Petrobras B24 biofuel supply agreement (January 2026), participation in the AWESOME EU wind-propulsion consortium (June 2026), and delivery of 10 newbuild chemical tankers in 2026.

Odfjell monetizes its services through a mix of long-term contracts of affreightment (COAs) with major chemical producers, spot and contract voyage charters on the wider market, and terminal throughput fees for storage, blending, and handling. The combination of vessel operations and terminal infrastructure creates vertical integration benefits, allowing Odfjell to capture additional value from cargo handling and offer bundled shipping-plus-storage solutions to chemical and edible oil customers. Following its 2021 exit from gas carriers, the company has concentrated capital on its chemical tanker and terminals platform.

Name

Odfjell

Legal name

Odfjell SE

Website

https://odfjell.com

Company type

Public

Founded year

1914

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Odfjell SE is a Norwegian-founded (1914) chemical tanker operator and tank terminal owner transporting bulk liquid chemicals, acids, and edible oils for approximately 600 global customers using one of the world's largest stainless steel tanker fleets.

Ownership category

akta.pro rank

Product category

Chemical Tanker Shipping and Terminal Storage

NAICS

Deep Sea Freight Transportation (483111), Marine Cargo Handling (488320), Marine Cargo Handling (48832), Petroleum Bulk Stations and Terminals (424710)

SIC

Deep Sea Foreign Transportation Of Freight (4412), Water Transportation (4400), Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Chemical & Petrochemical Tanker Transport (TLADALAB)

akta.pro secondary industries

Liquid Bulk Petroleum Terminals (Crude, Refined Products) (TLAHABAH), Marine/Port-Connected Pipeline Terminals (Dock/Jetty Tank Farms) (TLAGAKAL), Crude Oil & Petroleum Products Tanker Transport (TLADALAA)

Keywords

• Chemical tanker shipping
• Bulk liquid storage
• Tank terminal services
• Ship management services
• Hazardous liquid transport

Headquarters

HQ city

Bergen

HQ country

Norway

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Time Charter Earnings: Primary revenue stream from time charter of chemical tankers. Q1 2026 time charter earnings of $167 million. Daily time charter earnings averaging $27,232.
2. Tank Terminal Storage Services: Storage services for liquids, chemicals and oil products at strategic international shipping hubs. Total storage capacity of 1.3 million cbm across 4 operational terminals.
3. Ship Management Services: Fully integrated fleet management, crewing, QHSSE management, technology support, newbuilding coordination, digital innovation and energy efficiency solutions for owned and managed vessels.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels8 records

Core offering

Odfjell operates a global fleet of approximately 80 chemical tankers transporting bulk liquid chemicals, acids, vegetable oils, and specialty hazardous liquids for major chemical producers worldwide, 24/7 across all major shipping hubs. The company also operates 4 part-owned tank terminals with 1.3 million CBM of storage capacity at strategic hubs in the US, Belgium, and Korea, and provides fully integrated ship management services covering crewing, QHSSE, technology, and energy efficiency. Its services span complete chartering, operations, marine services, and fleet management for both owned and third-party vessels.

Product overview

Odfjell is a Norwegian shipping company operating approximately 80 chemical tankers for worldwide transportation of hazardous liquids and specialty bulk chemicals, complemented by 4 part-owned tank terminals (Houston, Charleston, Antwerp, Ulsan) with 1.3 million cbm storage capacity. The core product offering includes Odfjell Tankers (complete chartering, operations and marine services), Odfjell Ship Management (fleet management, crewing, QHSSE, technology support), and Odfjell Terminals (storage and distribution at strategic hubs). Technology platforms include HxGN EAM for fleet management, Syroco's digital twin and weather routing platform, and bound4blue eSAIL suction sails for wind-assisted propulsion. The company operates a Brazil-Europe green corridor using sustainable biofuels, and is part of the EU-funded AWESOME wind propulsion project. Services span from chartering to ship management, with a customer portal for logistics access.

Differentiator

Problem solved

Functional benefit

Products and services

• Odfjell Tankers (Chemical Tanker Transportation) Complete chartering, operations and marine services organization providing global chemical tanker transportation of bulk liquid chemicals, acids, vegetable oils, and specialty hazardous liquids. Operates a fleet of approximately 80 chemical tankers serving 600+ regular customers including all major chemical producers, 24/7 across all major shipping hubs.
• Odfjell Ship Management Fully integrated service offering fleet management, crewing, QHSSE management, technology support, newbuilding coordination, digital innovation, and energy efficiency solutions for chemical tankers (both owned and third-party managed vessels).
• Odfjell Terminals (Tank Storage Services) Global tank storage service provider for liquids, chemicals and oil products at strategic international shipping hubs. Operates 4 part-owned terminals in Houston, Charleston, Noord Natie (Antwerp), and Ulsan, with total storage capacity of 1.3 million cbm across 476 storage tanks, plus a network of associated terminals in South America.
• Decarbonization and Green Shipping Corridor Services Decarbonization-focused shipping services based on a three-pillar strategy: operational efficiency, technical improvements, and alternative fuel development. Includes the first operational green shipping corridor between Brazil and Europe, supporting customers' Scope 3 emission reduction goals.

Quantifiable outcome

• 50%+ carbon intensity reduction vs 2008 baseline achieved March 2023
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability1 record

Feature5 records

Partnerships

13 partnerships are on record, tiered core and minor.

• bound4bluecoreStrategic or Co-development Partner · 26 June 2026Spanish suction sail developer whose eSAIL system is installed on Odfjell vessels, achieving approximately 20% fuel savings. The Odfjell family office participated in bound4blue's $44M funding round. Odfjell vessels equipped with bound4blue technology participate in AWESOME project.
• Kongsberg MaritimecoreStrategic or Co-development Partner · 25 June 2026Leading the AWESOME (Advanced Wind Energy System Optimization & Monitoring for Efficiency) EU Horizon Europe project. Odfjell provides one of its chemical tankers as a full-scale demonstrator for wind-assisted propulsion technology. The project brings together 15 European partners to validate tools, methodologies, and real-world performance data for WAPS.
• PetrobrascoreStrategic or Co-development Partner · 20 January 2026Historic marine biofuel supply deal for up to 12,000 metric tons of B24 marine biofuel through 2026. Bunkering operations at Petrobras' Rio Grande terminal in Brazil. Builds on Brazil-Norway green shipping corridor agreement signed February 2025.
• Fukuoka ShipyardcoreOthers · 6 January 202625-year partnership with Japanese shipyard spanning 18 vessels. Built Bow Fortitude and Bow Fraternity, latest in 25,000 dwt stainless steel chemical tanker series. Partnership emphasizes quality construction and on-time delivery.
• SyrococoreTechnology or Integration · 13 November 2024Odfjell deployed Syroco's digital twin and weather routing platform on chemical tankers Bow Olympus and Bow Optima to optimize voyage performance. The platform calculates optimal routes considering wind-assisted sails and vessel characteristics, integrated with bound4blue eSAIL system.
• SINTEF OceancoreStrategic or Co-development Partner · 13 November 2024European research institute leading the reSail project to improve Wind-Assisted Propulsion Systems using LiDAR technology. Equipped Odfjell's Bow Olympus with LiDAR to capture accurate wind data for sail optimization. Partnership continues in AWESOME project.
• DNVcoreStrategic or Co-development Partner · 1 June 2023Independent verification partner for carbon intensity reduction targets. DNV verified Odfjell's 50%+ carbon intensity reduction in March 2023 and issued certificate at Nor-Shipping 2023. Also provides Type Approval for HxGN EAM platform.
• FUTURE-PROOF InitiativeminorStrategic or Co-development Partner · 1 July 2022Human rights collaboration platform created by Bergen Chamber of Commerce and Rafto Foundation. Odfjell signed as part of Transparency Act compliance, committing to human rights due diligence and SDG alignment.
• HexagoncoreTechnology or Integration · 1 May 2021Odfjell implemented HxGN EAM multi-tenant cloud platform for fleet management across 45 vessels. Platform covers maintenance, safety inspections, procurement, dry docking, and inventory. Type Approved by DNV. Replaced 20-year-old legacy distributed systems architecture.
• Getting to Zero CoalitioncoreStrategic or Co-development Partner · 1 September 2019Global alliance working to operate zero-emission vessels on deep-sea trades by 2030. Led by Global Maritime Forum, Friends of Ocean Action, and World Economic Forum. Odfjell joined as one of 80+ founding companies.
• MAN Diesel & Turbo, Grenaa Motorfabrik, Marintek, ABB AS TurbochargingcoreTechnology or Integration · 1 January 2015In-house developed retrofit program for propulsion upgrades including propeller blades, rudder-bulb, main engine, turbochargers, and hull coating. Achieved 20%+ fuel consumption reduction across 19 retrofitted vessels.
• Maritime Anti-Corruption Network (MACN)coreStrategic or Co-development Partner · 1 January 2013Global business network working towards corruption-free maritime industry. Odfjell has been member since 2013, implementing Say No anti-corruption campaign on all vessels globally.
• UN Global CompactcoreStrategic or Co-development Partner · 1 January 2011Odfjell is a signatory since 2011, committed to ten principles in human rights, labour, environment, and anti-corruption. Framework guides sustainability strategy and Communication on Progress reporting.

Scale indicators11 records

Recent moves13 records

Expansion highlights5 records

Direct peers

• Stolt-Nielsen Limited: Stolt-Nielsen is the most direct comparable, operating the Stolt Tankers chemical parcel tanker fleet and Stolthaven tank terminals globally. It competes head-to-head with Odfjell in deep-sea chemical transportation and bulk-liquid storage, serving the same major chemical-producer customer base with similar stainless-steel tonnage and time-charter contracts.
• Royal Vopak: Vopak is the world's largest independent tank terminal operator, directly overlapping with Odfjell Terminals' 1.3M cbm of bulk-liquid storage across Houston, Antwerp, and Asia. It serves the same downstream chemical and oil-product customers and competes for storage contracts at the same strategic ports.
• Hafnia: Hafnia operates a large fleet of product and chemical tankers (~200 vessels) in the same time-charter and pool arrangements as Odfjell. While skewed to refined products, it competes with Odfjell for the same chemical-producer customers and pool partners (e.g., Chempool arrangements).
• Scorpio Tankers: Scorpio Tankers operates one of the largest publicly listed product tanker fleets, competing with Odfjell for chemical and refined-product voyage charters globally. Both operate modern, fuel-efficient tonnage in MR and LR segments and are subject to similar IMO and FuelEU Maritime compliance dynamics.
• TORM plc: TORM operates a fleet of product and chemical tankers serving global trading houses and chemical producers, directly competing with Odfjell Tankers' time-charter and spot business. Both companies are focused on clean petroleum products and chemicals with similar LR2/MR vessel profiles.
• Team Tankers / Stolt Bitumen & Specialities: Team Tankers operates deep-sea chemical tankers and was a major Stolt-Nielsen competitor; it now functions within the broader Stolt group. It remains directly comparable to Odfjell's stainless-steel chemical fleet in vessel size, customer base, and trade-lane coverage.

Broad incumbents

• Frontline plc: Frontline is one of the world's largest publicly listed crude and product tanker owners, operating a broad VLCC/Suezmax/LR2 fleet. While primarily crude-focused, Frontline competes with Odfjell for product-tonnage business and overlaps in global shipping hubs where Odfjell Terminals operates.
• International Seaways: International Seaways owns and operates a diversified fleet of crude, product, and chemical tankers via its VLCC, Suezmax, Aframax, MR, and chemical segments. Its chemical tanker operations directly overlap with Odfjell, while its crude segments provide a broader incumbent comparison point for the same shipping cyclicality.

Emerging players

• Ardmore Shipping: Ardmore Shipping operates MR and chemical parcel tankers serving the same refined-products and chemical customer base. It is smaller and product-tanker-focused but increasingly competes with Odfjell for chemical parcel business, particularly on Atlantic basin routes served by Brazil-Europe and US Gulf corridors.

Others

• Wärtsilä Cargo Handling: Wärtsilä is a broader marine-technology and services group whose cargo-handling division supplies equipment and digital solutions for chemical tankers and terminals. While not a direct shipping competitor, its technology and lifecycle services overlap with Odfjell's Hexagon HxGN EAM and Syroco digital-twin stack and compete for similar fleet-modernization budgets.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Odfjell_SE
• YouTubeyoutube.com/channel/UCl2CMs5zshdkf9P1ojA6vZQ
• Facebookfacebook.com/Odfjell
• LinkedInlinkedin.com/company/odfjell
• Instagraminstagram.com/Odfjell_se

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries9 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Odfjell