Safety shutdown and recovery plan at Odfjell Terminals (Rotterdam)

A meeting has just taken place between the authorities DCMR Milieudienst Rijnmond (Environmental Protection Agency), Inspectie SZW and the Fire Brigade with the management of Odfjell Terminals Rotterdam (OTR). Laurence Odfjell, Chairman of the Board of Odfjell, was also present. At this meeting OTR presented a plan addressing both the short term needs and long-term goals with regards to the situation at OTR. This plan starts with a controlled safety shutdown of the terminal within the next 24 hours. All fire fighting systems on site will be verified prior to commencement of operations. This means no truck, rail, barge and ships movements will be reinitiated until the integrity of the respective fire fighting equipment of the tanks have been verified. Only movements to process industries with risk of plant shutdowns will continue under enhanced safety measures in cooperation with the authorities. All the cooling and extinguishing equipments on 140+ tanks with carbon steel pipes will be replaced by new ones. At the same time maintenance will be carried out, when necessary, on other parts of the tanks. All tanks at OTR will be in full compliance with legislation and regulations and also with the PGS 29 guideline. PGS 29 is the guideline for large above-ground tank installations in which flammable liquids are stored. PGS 29 exceeds current legislation and regulations with respect to safety and the environment. These measures have a great impact on business operations. Customers that have products stored in the tanks are being informed at present. OTR appreciates the continuous support by our customers to put safety first and we are working together with them to find safe solutions for their needs. In cooperation with customers, OTR will make every effort to reach good and safe alternative solutions. We regret the concerns that we have caused in the local community and we hope that this safety shutdown and plan going forward will put the minds at ease. Odfjell is determined to improve the integrity of the terminal in order to ensure safe operations. 'Safety and the environment has the highest priority within Odfjell throughout the world', says Laurence Odfjell, Chairman of the Board of Odfjell SE. 'The current situation at OTR does not reflect the values of Odfjell. Our commitment is to do whatever is necessary to bring OTR up to industry standards. In the time ahead I will be present at OTR to give my full attention and support to the needed improvements.' For more information, please contact: Jan A. Hammer, President/CEO Odfjell SE Tel.: + 47 55 27 00 00 Email: jan.hammer@odfjell.com This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Odfjell SE via Thomson Reuters ONE [HUG#1630285]