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2 0 2 0 BIANNUAL Editorial Contents 1H/2020

Publisher For further information, BW Group please contact:

Responsible Editor BW Group Nick Fell 10 Pasir Panjang Road #18-01 Mapletree Business City 02 CHAIRMAN’S MESSAGE Managing Editor Singapore 117438 Zachary Mahon + 65 6337 2133 [email protected] Editorial Team 04 Jareth Tan Julia Moreau Lisa Lim 10 Marita Sandvoll 21 Nadia van Dam Una Holmen 10 STARTING A NEW CHAPTER 21 KEEP CALM AND CARRY ON BW Energy successfully lists Rounding off its first year, BW Contributions From 04 STRANGE AND on the Oslo Stock Exchange continues its drive to promote good Alexis Wong UNPRECEDENTED TIMES physical and mental health onboard Anders Bohm Across Affiliates, BW continues Bradley Pereira Ivy Yap to keep propellers turning to

deliver energy and other vital Provide safe, 12 Jostein Vaagland sustainable and reliable hydrocarbon Kamilla Moestue Røsted commodities to world markets transportation solutions

Active participation Improve workforce Marco Beenen in the decarbonization diversity at Hafnia of shipping and in shipping Michael Smyth

Culture and Values Workforce DiversityTalent DevelopmentCrew WellnessCustomer Relations and Retention InnovationAsset Management Miriam Basco OPERATIONAL Zero Harm

Spills to Sea Regulatory STRATEGIC Security at Sea Compliance Ship Recycling

Emissions to Air Anti-corruption Anti-bribery and Anti-bribery Plastic Waste and Garbage Disposal Mukesh Sharan Trade to Freedom Naomi Tan 24 Rick Ackermann Seah Zhi Hui 12 SUSTAINABLE DEVELOPMENT Shanker Pillai AT HAFNIA 24 IN THE SPOTLIGHT: Hafnia aligns itself with the MARCO BEENEN Design & Production 07 United Nations’ Sustainable World Horizon speaks with Simple Reels Genesis Pte Ltd Development Goals Marco Beenen, CEO of BW Offshore 07 PERFECTING PROCUREMENT PRACTICES 19 MAKING RAIN 26 ZERO HARM ART COMPETITION Affliates come together to share Fostering a culture of innovation Into its third year, BW continues best practices and collaborate at Hafnia through new its search for the next batch to ensure consistently high initiatives and partnerships of budding artists standards in procurement processes and policies 29 AROUND THE WORLD

33 SPECIAL THANKS TO ... 2 World Horizon Issue 1H/2020 World Horizon Issue 1H/2020 3

Chairman’s

he period since the start of 2020 on when you can return to your family. Many predictions are being made, but has been dominated by a single It speaks to your professionalism and the truth is that no-one really knows topic, Covid-19, and its impact resiliency that you are doing so without what the world will look like on the other Message Tis so profound that it is hard to complaint, staying focused on your critical side of this pandemic. We do know that write of much else. The pandemic that role and maintaining good spirits. Thanks things will eventually stabilize, and that has swept the world over the span are due not only from the company, but food, medical services, and energy – in its of a few months has caused untold from all citizens around the world who many forms – will continue to be needed. disruption at every level – for individuals, are beneficiaries of your hard work. The best we can do is to keep working companies, communities, countries. hard on our individual responsibilities, Shipping continues to be in demand, whether at sea or onshore, and to keep the While everyone is bearing their fair share unlike many other industries such as propellers turning in a safe and responsible of difficulty, we owe a special thanks to airlines, hotels and retail which have all manner. Together with heartfelt thanks, those who are keeping the world going. but shut down in recent months. Some I send you and your loved ones best This clearly applies to all those in the of our sectors have been hit hard, for wishes for continued good health. medical and food supply chains. Less instance BW Energy whose prospects often mentioned, but equally important are directly linked to the oil price. Other as an essential service, are those involved sectors like tankers have been strong in delivering energy. BW colleagues are as a result of excess oil production working hard to produce and deliver and the need for storage. But with the energy, and many of you are doing so likelihood that few will be immune from Sincerely, away from home, serving on vessels the pandemic in the longer run, we are Andreas Sohmen-Pao and production units without visibility preparing for a challenging period ahead. Chairman 4 World Horizon Issue 1H/2020 World Horizon Issue 1H/2020 5 Strange and Unprecedented Times Across Affiliates, BW continues to keep propellers turning to deliver energy and other vital commodities to world markets

hese are strange and unprecedented times. Keeping morale high and spirits up Pandemics have occurred before, markets have Captain Namit Choudhry is one of six officers onboard LNG carrier dropped before, oil prices have collapsed before, but BW Pavilion Vanda who have exceeded their tenure due to the Tnever have countries and continents shut down to temporary cessation of crew changes. When asked how crew are the extent seen today. The COVID-19 pandemic continues coping with disruptions to routine, he says, “It would have been to dominate headlines globally and new measures are nice to be with our families during these hard times, but we do implemented almost daily by governments worldwide. understand the situation, and the initial disappointment has been replaced by a sense of pride in playing a critical to keep the global (Above) Instructions for visiting shore personnel Colleagues onshore are working hard to keep the business supply chain running. Safety, welfare and discipline together with going despite the challenges of working in isolation and the focus on mental health is now even more important. Welfare Captain PK Singh, onboard Product Tanker BW Shinano, has office. We need to accept the situation as it is, and manage remotely from home, with all the associated responsibilities initiatives from the company have been well received by all been with the company for over 30 years and keeps the our own expectations on what can and cannot be done under of managing children out of school and concerns about older onboard and morale is high. We continue to plan social activities current situation in perspective. “Crew are not relieved on present circumstances. Otherwise, we will be very stressed.” family members. Everyone is having to adjust their life and work and add positive humor to our daily activities to keep spirits high”. completion of tenure, to the extent that one of our crew had schedule, but none are more impacted than our seafarers. his wedding cancelled. We boost morale onboard as much Staying safe for you and me as possible, and provide transparent updates from the shore Captain Rene Subong onboard LNG Enugu is also keeping

(Background) Using international code flags to spell out COVID-19, with their ship motto: “COVID-19 stays at Base, Zero Harm in our Space” (Above)(Left) Crew practicing safe social distancing; (Right) Crew keeping busy and spirits up by exercising on board 6 World Horizon Issue 1H/2020 World Horizon Issue 1H/2020 7 Perfecting Procurement Practices

Affiliates come together to

(Above) The winning team onboard BW Shinano share procurement best practices and collaborate morale high, while ensuring his vessel continues to be a safe and port and terminal regulations with regards to COVID-19 to ensure consistently high place - maybe the safest place to be, considering the limited precautions. For those who are at home right now, please standards in processes exposure of the vessel to the outside world and the control follow the directives of your local and national governments in over vessels put in place by most ports and terminals. stopping, if not, preventing the spread of the virus. We must and policies not let our guard down as we are facing an invisible enemy.” Says Captain Subong, “the BW COVID-19 Guidelines and Outbreak Management Plan is a good tool to help us minimize exposure in Comments Captain Singh, “We have found ways to cope as a a systematic manner. We have implemented all safety measures team. We share and discuss daily email updates from the office, required of us, which include limiting access to external visitors and as well as relevant news we see on social media. We also keeping a safe distance from them; Bridge team and gangway encourage each other to remain engaged in work during the escort teams to wear masks, safety glasses and rubber gloves day and decompress during our time off with wellness activities during pilotage; while alongside, paperwork is done close to the such as meditation and yoga; keep connected with our families manifold area with minimum representatives from both ship and online with increased data allocation from the company; and shore for minimal interaction; and twice-daily temperature checks.” indulge in the latest entertainment blockbusters that we have purchased. The worst will pass; we just have to keep calm.” Adds Captain Singh, “In addition to the PPE that we have at the Gangway, we take temperatures regularly and are very Rainbows after the rain disciplined with our temperature logs. Prior to any port calls, Even though COVID-19 is a serious matter, it may be helpful W Group conducts its business with high ethical we also send emails with our request for full compliance to keep the pandemic in perspective – as with all earlier standards and in compliance with all relevant laws. from all visitors and personnel with our company’s COVID-19 challenges, global collaboration and human ingenuity will We also hold our business partners, suppliers, agents safety precautions. We have designated one room, which overcome this challenge. For over 85 years, BW Group has Band other third parties to the same standards, and is away from crew accommodation areas, as Ship’s office been delivering energy to world markets. And over the years, require compliance with all our processes and policies. to manage paperwork and meet shore personnel.” we have seen and overcome many difficult moments. Over the past nine months, procurement colleagues from BW LPG, When asked how best to manage stress and anxiety onboard, As borders close and people are urged to stay home, BW LNG and Hafnia have come together to share knowledge and Captain Choudhry says, “Stay positive and be resilient. This too there are extraordinary people who put themselves at best practices, with the aim of streamlining processes and policies, shall pass. For all those ashore - please drop anchor at home and risk – medical professionals who continue to care for the leverage on each other’s understanding of the market and make full use stay put. An ounce of prevention is worth a pound of cure!” sick, and maritime professionals who keep propellers of available resources. The team is also in the process of implementing a turning so that energy and other vital commodities can new Enterprise Resource Planning (ERP) system. Created by Alpha Ori, the “To my fellow seafarers who are onboard, let us all safeguard our continue to reach communities at a critical time. wh ShipPalm ERP offers a one-stop solution for ship management purchasing wellbeing by complying with the guidelines from our company and further automates the purchasing function for the entire fleet. 8 World Horizon Issue 1H/2020 World Horizon Issue 1H/2020 9

A Procurement Manifest has also been set up by BW LPG been put in place for a twice-yearly review by the various Heads of opportunity to present their proposal. Based on a scoring system and we expect our suppliers to adhere to these standards. We Head of Procurement, Rick Ackermann, to ensure mutually Procurement, and this overview will be made available on a new which included direct costs and rates, as well as several rounds wish to use our size as a company and as a combined Group, to beneficial contracts for both BW and our vendors. For BW, this platform called the Scanmarket contract management system. of negotiations, a new Hub Agent was selected. BW LPG has now influence the wider maritime network – that a sustainably-run is done by leveraging on volume, sharing of resources across signed a contract with Wilhelmsen for the next three years, which business is a competitive one. Together, we can all play our part in Affiliates, optimising the conditions of the contract and managing Scanmarket, which will be implemented by BW LPG, BW LNG, includes an incentive to encourage sustained high performance. supporting the United Nations Sustainable Development Goals.” risks. Categories have been set up according to Skipsteknisk Hafnia, and BW Offshore, enables Procurement colleagues to Forskningsinstitutt or SFI codes, which is the most widely used share non-confidential information on contracts across Affiliates What does it take to make the cut as a vendor within the new BW LPG has improved the way in which stores and spares are classification system for the maritime and offshore industry in a transparent manner. In this way, Affiliates can potentially procurement process? Environment, Social and Governance (ESG) ordered, by changing the frequency to quarterly orders. Not only worldwide, introduced by the Ship Research Institute of Norway. tap on current relationships and agreements with tried-and- standards are high on the priority list as tenderers compete does this reduce indirect costs by having less POs and invoices that trusted vendors and reduce the need for external sourcing. in a transparent environment with clear selection processes must be handled, but also reduces logistical costs by decreasing With a strong foundation based on standardised codes and based on objective criteria and equal opportunity. Says Rick the number of transports and thereby reducing carbon emissions. categories, possibilities for improvement abound. For example, an BW LPG has a success story related to the new procurement process, Ackermann, “the Supplier Code of Ethics and Business Conduct overview document has been created, which contains information where the Technical and Operations teams were involved in a has been implemented as an integrated part of our Request In the words of Henry Ford, “coming together is a beginning, such as purchasing histories, contract details and supplier and tender process for port agency services. All team members had a for Quotation (RFQs), Purchase Orders (POs) and contracts, keeping together is progress; working together is success.” wh procurement officers’ names across categories. A procedure has role to play within the process and eight tenderers were given the 10 World Horizon Issue 1H/2020 World Horizon Issue 1H/2020 11 Starting a New Chapter

BW Energy successfully lists on the Oslo Stock Exchange Creating the Opportunity

(Above) The BW Energy model solves the traditional E&P challenge.

Taking risks A strong foundation n 2016, BW Offshore acquired the Dussafu licence in Gabon The main assets of BW Energy are 73.5% of the producing in a joint venture partnership with BW Group. With a growing Dussafu Marine Permit offshore Gabon and a 95% interest in strategic emphasis on exploration and production (E&P), the Maromba field in Brazil, both operated by the Company. IBW Offshore established E&P as a new business segment. The Dussafu licence uptime was 98% in 2019 with production Against a positive backdrop of performance beyond expectation, of 11,800 bopd gross. The first two production wells of the this business segment was spun off into an E&P company Tortue Phase 2 development were tied back to the BW named BW Energy. BW Energy operates with a clear strategy Adolo in March 2020, increasing oil output to approximately - to unlock value that traditional oil and gas companies do 20,000 barrels per day. BW Energy has a healthy financial not address. By concentrating on proven hydrocarbon fields, position with total available liquidity as at end February leveraging on in-house technical, operational and basin 2020 of USD 184.5 million in cash, with no debt. expertise, and using economically viable FPSO options to perform fast-track, phased development at a lower cost. Low Oil Price In challenging and uncertain times, BW Energy is taking steps A new chapter to protect shareholder value and long-term viability of the In 2019, following the successful start-up of BW Offshore’s FPSO company. BW Energy has a relatively low breakeven price and BW Adolo operating on the Dussafu licence, a decision was is taking measures to mitigate the global impact of COVID-19 made to list BW Energy as a separate E&P company on the Oslo and the volatile oil market from OPEC+ uncertainties, such as Stock Exchange. Through the listing, capital would be raised adjusting the development programs on the Dussafu and directly in BW Energy, thereby facilitating continued growth and Maromba licences, and deferring investments. Production securing its financial independence. Following the listing on 19 activities in Gabon remain uninterrupted as BW Energy February 2020, BW Offshore remains the largest shareholder complies with public health advisory at all its locations to (Above) BW Offshore Senior Manager Commercial Strategy & Analysis, Thomas Moe Young ringing the Oslo Stock Exchange bell, as is tradition on the of BW Energy with 39% ownership, while BW Group holds ensure safe operations during the COVID-19 pandemic. wh first day of trading. Thomas was joined by BW Energy’s CFO Knut Sæthre, CEO Carl Arnet, and COO Lin Espey, as well as BW Offshore’s Manager IR & 35%, and together they have a controlling interest in the Communications, Una Skram Holmen and Head of Corporate Finance, Anders S. Platou (Not in the photo above). newly listed company. 12 World Horizon Issue 1H/2020 World Horizon Issue 1H/2020 13

Total Workforce Total Workforce on Shore Total Workforce at Sea Percentage of Employees on Shore 1801 160 1641 11.8 Age 30

Total Workforce on Shore 17.4 Gender Diversity (On Shore) Gender Diversity (Sea) Sustainable 161 Age 30 - 50 108 1638 Age 50 Devel pment 52 3 70.8 Total Workforce on Shore Total Workforce at Sea

160 68 1641 Breakdown based on Crew Seniority Cadet Nationality at Hafnia Number of Crew Number of Cadets management level and gender 1641 91 Hafnia aligns itself with the 828 31 30 United Nations Sustainable Development Goals 26 23 23 374 348 12 11 11 7 23 18 94 2 25 91 7 Junior Level Entry Level Middle Management Senior management Cadets Ratings Junior Officers Senior Officers Chinese Indian Filipino Others

Employee Nationality

1801 ARGENTINA AUSTRALIA BANGLADESH MYANMAR CHINA Employees

from DENMARK PHILIPPINES FRANCE INDIA IRELAND

25 ITALY JAPAN LATVIA LITHUANIA MALAYSIA Nations

NETHERLANDS PORTUGAL ROMANIA RUSSIA SINGAPORE

ydrocarbons power our homes and are used to We have an important role to play in the sustainable development make everything from clothes to cleaning products, of maritime energy transportation. Our approach to sustainability SOUTH KOREA SWEDEN UKRANE UNITED KINGDOM USA packaging and pharmaceuticals. Their safe and starts with the United Nations Sustainable Development Goals Hresponsible transportation around the world is (UNSDGs). Much of what we already do at Hafnia contributes therefore essential to living standards globally. towards multiple UNSDGs. Through formal and informal discussions 14 World Horizon Issue 1H/2020 World Horizon Issue 1H/2020 15

ALIGNMENTALIGNMENT WITH WITH

OUR COMMITMENT OUR COMMITMENT Provide safe, Our business is at the heart of global trade, and powers sustainable global Provideeconomies andsafe, communities. Our license to operate Our business is at the heart of global trade, and powers and reliable rests on flawless implementation of our mandate hydrocarbon sustainable to transport hydrocarbons. global economies and communities. Our license to operate transportation solutions and reliable rests on flawless implementation of our mandate hydrocarbon to transport hydrocarbons. transportation solutions

Active participation Improve workforce OUR PRIORITY PROJECTS in the decarbonization diversity at Hafnia of shipping and in shipping We make it our priority to support the decarbonization of shipping and to improve gender diversity in shipping. Active participation Improve workforce OUR PRIORITY PROJECTS in the decarbonization diversity at Hafnia of shipping and in shipping We make it our priority to support the Culture and Values Workforce DiversityTalent DevelopmentCrew WellnessCustomer RelationsInnovationAsset Management and Retention decarbonization of shipping and to improve OPERATIONAL gender diversity in shipping. OUR FUNDAMENTALS Zero Harm

Spills to Sea Regulatory STRATEGIC Security at Sea Compliance We remain keenly involved Ship Recycling

Emissions to Air in the management of Anti-corruption

Anti-bribery and Anti-bribery these material topics. Plastic Waste and Garbage Disposal Freedom to Trade to Freedom Culture and Values Workforce DiversityTalent DevelopmentCrew WellnessCustomer Relations and Retention InnovationAsset Management OPERATIONAL OUR FUNDAMENTALS Zero Harm

(Above) Hafnia’s sustainability approach Spills to Sea Regulatory STRATEGIC Security at Sea Compliance We remain keenly involved Ship Recycling

Emissions to Air in the management of Anti-corruption

Anti-bribery and Anti-bribery these material topics. Plastic Waste and Garbage Disposal Freedom to Trade to Freedom 16 World Horizon Issue 1H/2020 World Horizon Issue 1H/20201H/2020 17 Removable Page (Tear along perforation)

in age, ethnicity, family or marital status, and all other characteristics that make each individual unique.

In 2019, Hafnia signed up to the Charter for More Women in Shipping, an initiative organised by Danish Shipping to encourage more women to join the shipping industry. As a signatory to this Charter, Hafnia will commit to establishing goals for the number of women within the company and to drawing up concrete actions that will be taken to reach these goals.

In 2019, Hafnia also appointed its first female member set to reach IMO 2030’s target by 2028, by reducing our of the Board – Ms Ouma Sananikone. Readers can draw carbon intensity to 4.54 gms/T NM. To reach this goal, Hafnia’s inspiration from her thoughts on what success can mean. and reliable oil transportation solutions for our customers. standard vessel optimization efforts will be supplemented Our business is at the heart of global trade, and we focus with additional initiatives such as intermittent dry-dockings, World Horizon [WH]: How do you think sustainable on delivering energy to world markets, even as we look investments in modern tonnage with lower fuel consumption, development looks for Hafnia and, more broadly, to the future and explore what more it means to pursue and new technology which will allow remote access to real for the shipping industry? sustainable development as a shipping company. time voyage statistics as well as the ability to harness insights from data collected over many years of fleet management. Ouma Sananikone [OS]: A company’s commitment to In 2019, we made it a priority to actively participate in the sustainability underscores its responsibility to its stakeholders. It decarbonization of shipping, and to improve workforce Hafnia also continues to scrutinise the granular – making is an important driver of engagement with clients, employees, diversity within the company through implementing physical changes to propellers, adopting new paint communities, and how it conducts its business. The right mindset measures in a structured way. As these priority projects technology, tweaking engine tuning, utilizing autopilot, and resources towards social and environmental issues grants a change in tandem with the industry, our fundamentals vessel trim and weather routing to make ships run more company continued permission to operate. This helps to ensure its with multiple stakeholders, we have also identified 16 material remain a Zero Harm culture at sea and on shore, continued efficiently and make every drop of fuel count. relevance, and success, while building long term-value by being topics that influence Hafnia’s Environmental, Social and Governance emphasis on zero spills to sea, zero non-compliance and mindful of its impact on people, society and the environment. (ESG) impact. These topics together with our pursuit of the UN strong focus on mental health and wellness at sea. Journey towards diversity and inclusion SDGs form the foundation of our sustainability approach. Hafnia is committed to cultivating and preserving a culture Handling 90 percent of world trade, the operations of the maritime Journey towards decarbonization of diversity and inclusion. The collective sum of individual industry have a positive global economic and social impact. Our Commitment to Sustainable Development In 2019, across Hafnia’s owned fleet, our carbon intensity knowledge, capabilities and talent that employees invest As such, the maritime industry is uniquely positioned to take a At the top of our sustainability agenda lies our commitment as was 5.82 grams/ton nautical mile (T NM), which is 23% in their work represents a significant part of the company’s leadership position in its approach to ESG. The shipping industry a company to sustainable development – the provision of safe below the present IMO 2008 baseline. A goal has been culture and reputation. Hafnia embraces differences can i) partner with stakeholders, including industry groups, to 18 World Horizon Issue 1H/2020 World Horizon Issue 1H/2020 19

Communicate Effectively Making Rain Build Relationships with Stakeholders Fostering a culture of innovation at Hafnia through new initiatives and partnerships Be Passionate and Curious Show Leadership and Character

Ms Ouma Sananikone Board member

identify industry-wide solutions to manage environmental and WH: What would be your advice, for both men and social risks; ii) contribute to best practices; and iii) work with women, who wish to aspire towards greater professional international and national bodies to frame regulations. Hafnia will achievements? i) set a robust ethical business framework; ii) adopt a clear strategy and ambitious goals beyond compliance; iii) continue to search for OS: To succeed in whatever we do, we must have clarity of purpose solutions to address the management of environment and social and direction. We must recognise the difference between a wish risks, workplace safety and wellbeing; iv) practice transparent and a goal – be clear about what you wish to achieve and set goals reporting that includes measurement of progress against goals and to get there. There must be 100 percent commitment, accountability (Above) Shanker Pillai (4th from left), Head of Innovation and Change, leads an innovation workshop for colleagues in Copenhagen. industry/best practice benchmarks; and v) lead with best practices. and personal responsibility. Plan, prepare, set objectives and timelines, act, track progress, obtain and listen to feedback.

WH: What are your thoughts on workforce diversity, and Several personal attributes will also help you along your 019 heralded a sea change in global response to Partnering with Rainmaking and Peers its importance to Hafnia and the shipping industry? How journey. First, communicate effectively – set the right tone, sustainability. This vwas exemplified in the launch of the As part of Hafnia’s on-going focus on carbon dioxide reduction, does diversity translate into a strategic advantage? understand your audience, and articulate your message Getting to Zero Coalition, an alliance of more than 90 Hafnia has joined Rainmaking and more than 10 other industry effectively so it is clearly understood. Second, build relationships 2companies within the maritime, energy, infrastructure and partners to collaborate on solutions to decarbonise the maritime OS: Workforce diversity is essential to the success of any with stakeholders – know them, their requirements and finance sectors committed to getting commercially viable deep sea industry. Called the ‘Trade with Impact’ program, the program organisation to ensure its business remains competitive, perspectives. Third, be passionate and curious – the world zero emission vessels into operation by 2030. And in the Poseidon scouts thousands of start-ups active in the area of sustainable innovative, sustainable. At Hafnia, we value the innovation and changes fast, so remain curious about your environment, and Principles, where leading banks integrate carbon dioxide emissions innovation, and runs pilots on promising ideas. This is one creativity that cognitive diversity brings. With keen competition continue to learn and grow. Be an expert in a particular field, into decision making when providing loans to shipping companies. tangible way in which Hafnia is delivering on its promise to for skilled workforces, people can choose where they work. but also aspire to be a good generalist across many areas. be a trusted partner for the businesses and communities we Hafnia’s inclusive culture and its alignment with the United Decarbonizing the shipping industry will require collaboration serve. Hafnia is also exploring other partnerships, in areas Nations Sustainable Development Goals, makes it an employer Work fills a large and important part of our life, so work across multiple segments. To be part of the long-term solution, such as e-bunker delivery notes to facilitate transparency, of choice. A vibrant, diverse and inclusive environment gives its in companies with the right values and love what you do! Hafnia is seeking partnerships to reconsider everything as well as drone delivery to vessels in Singapore ports. people energy, and enthusiasm to achieve. Hafnia’s workforce Finally, show leadership and character – be courageous, it does, from propulsion technologies, data and artificial includes individuals from varied backgrounds with different skill optimistic, a good listener. Care about your environment and intelligence (AI), newbuilding designs for alternative fuels, and Partnering with Regulators sets, experiences and ways of thinking. Those are key strengths community, and pursue initiatives that are impactful. wh technologies that can work at scale. A new and dedicated The Maritime and Port Authority of Singapore (MPA) has and critical to the services that Hafnia delivers across the globe. Innovation and Change department is leading this charge. programs and initiatives to encourage companies to foster 20 World Horizon Issue 1H/20191H/2020 World Horizon Issue 1H/2020 21 Keep Calm and Carry On

Rounding off its first year, BW continues its drive to promote good physical and mental health onboard

(Above) Colleagues in Singapore meet to discuss innovation at Hafnia. Below: An online meeting in light of COVID-19 restrictions. more innovative environments. Hafnia is pleased to partner with MPA’s Innovation center on several key issues. First, in start-up scouting and university partnerships: MPA will assist Hafnia to find suitable start-ups and university partnerships to solve Hafnia’s “problem statements”, and offer grants to selected firms and universities. Second, in research on alternate fuels: Hafnia is exploring a partnership with the Singapore Maritime Institute’s fuels research and collaboration program. Third, in digital up- skilling: MPA has a partnership with the Singapore Infocomm Media Development Authority (IMDA) to up-skill employees who are interested in improving their digital competencies.

Training and Communication For innovation to be an integral part of Hafnia’s culture, training and of innovation activity in the maritime industry. And to keep external communication are key. All colleagues, regardless of responsibilities stakeholders informed of innovation initiatives at Hafnia, the or department, were invited to workshops held in Singapore and Innovation and Change Department will leverage on the company Copenhagen to share ideas and understand frameworks that website and social media accounts to connect and communicate. encourage creative thought. Topics included: design thinking and lean start-up methodology. Participants were then asked to apply Sowing Seeds for the Future these frameworks to industry issues and problems statements. In a span of two months following its creation, the Innovation and Change department is leading close to 20 experiments in various Virtual workshops are also being run every two weeks, using areas such as digital sustainability, culture and values, disruptive Microsoft Teams. Colleagues meet online in hourly sessions technologies as well as decarbonization. Some of these to think about selected innovative topics. The first session, on experiments have also matured into prototypes which are “effective brainstorming techniques”, attracted 20 participants. being evaluated for further roll-out. Next in the pipeline is a workshop on “rapid prototyping”. Decarbonising maritime shipping is a huge task with no simple he BW Wellness Program was launched fleetwide on 10 vendor, WellAtSea, was presented with The New Comer of the Keeping the conversation going in a global organization answer, but it must be done. Change is upon us, and presents June 2019 on the back of a successful six-month pilot; Year Award 2019 from Crew Connect Global for the program. requires a deft approach to technology. In close partnership us with opportunities as well as responsibilities. Hafnia is Second Engineer Giovanni Pagador Lauron was awarded with the IT department, a Microsoft Teams group called committing capital and providing management support with the Tthe Outstanding Seafarer Award from The Mission to BW Wellness Program Innovation@Hafnia is used to communicate progress of innovation, aim to apply the technologies to our fleet, and thereby Seafarers for his efforts in promoting and implementing the BW Crew members can access the internet and mobile enabled dates for workshops and activities, as well as tracking various types underwrite our return on investment. wh Wellness Program onboard product tanker BW Yarra, and BW’s platform to view a personal health risk assessment, track overall 22 World Horizon Issue 1H/2020 World Horizon Issue 1H/2020 23

progress on their wellness journey and claim rewards based have been completed for the crewing office in India, and World Horizon [WH]: As a former captain, and now WH: Was there any feedback from the crew that you on level of participation. similar sessions will be conducted in the Philippines. in a leadership position on shore, please share some would like to highlight, either positive or negative? of your thoughts on the BW Wellness Program. Helping crew keep in shape since 2019 Senior Officers are given ideas for how to create a healthy MS: Be it our shore staff, or our crew, the BW Wellness Program The wellness program provides guidance to help seafarers work environment and to sensitise them to signs of mental Mukesh Sharan [MS]: Just a few years ago, when the was well received. Every session was enjoyable, and many improve their mental and physical well-being, and reduce the illness. Junior officers are encouraged to find ways to reduce use of smartphones on board vessels was less prevalent, eagerly looked forward to the next session. The program’s reward risk of common diseases. Taking diabetes as an example, with the stigma surrounding mental health so that affected life onboard was more social. During our time off, we system also provided meaningful and satisfactory incentives for some simple lifestyle and dietary changes at the pre-diabetic individuals are more likely to seek help and support. would gather for group activities, ensuring that the our employees. There are some technical issues that we still stage, the risk of developing diabetes can be greatly reduced. These workshops include topics such as Psychological time spent aboard was both fun and meaningful. need to iron out, such as synchronization of trackers with the First Aid, Mindfulness 101 and stress management. digital platform, but these will be sorted out in due course. Should diabetes be a concern, a seafarer can choose to engage As the use of smartphones became increasingly common, in activities focused on this concern. By providing simple health Another form of support that was recently launched is a our crew inevitably started turning to their smartphones more WH: What are some of the key initiatives or efforts data such as age, weight and blood pressure, individualized meal 24/7 helpline dedicated for BW and Affiliates. Staff are frequently than in the past, and interaction among them has that the IBO will undertake in 2020 in relation to plans to improve nutrition, an exercise regime to keep weight trained counsellors with experience in providing emotional become relatively minimal. On top of that, although the food the Wellness Program? in check and related information for reading will be provided. support for seafarers. Counsellors can be contacted via most served on board vessels is delicious, meals were generally communication platforms such as telephone (with a call-back higher in calories and there was little emphasis on healthier MS: We will hold a briefing for our crew before they join the Other activities such as step count, sleep habits, and idle time option), email and live webchat. Counselling is available in meal options. program, and upon completion of the program. During these are also tracked to encourage movement. The platform gives multiple languages including Tagalog, Hindi, Russian, Arabic, briefings, feedback will be gathered from the participants the crew autonomy to set their own goals, and a reward Chinese, French and Spanish. Calls are anonymous, and free. The BW Wellness Program has provided the push for a and shared during our officers’ conferences and seminars. system encourages individuals to progress in their own time. better way of life for our crew. Through this program, Encouraging feedback from crew our crew are now more conscious of their fitness, they For our shore staff, weekly 20-minute sessions are conducted, If you need help, seek help Feedback from crew has been positive – detailing how meet during their time off to work out together, and and it is commendable to see that our staff are taking the Mental health is an integral part of wellbeing at sea. The the program has allowed them to better understand not are also motivated to maintain a healthy diet. initiative to conduct these sessions, with a different member BW Wellness Program offers mindfulness exercises and just their physical health, but their mental wellbeing also. leading each session every week. Examples of sessions meditation sessions. Mental health workshops for both senior World Horizon speaks with Mukesh Sharan, President of the In October 2019, the BW Wellness Program was introduced to include Yoga, Zumba, Stretching, Cardio, and Thera-Band, and and junior officers are also held. A series of shore workshops India Branch Office, for his thoughts on the program. shore staff of India Branch Office (IBO), and it was viewed all staff are encouraged to lead these sessions in accordance as a morale booster for all participants. with their own expertise. Each quarter, there will be one session that will be conducted by an external trainer. wh

(Above) Team India during training with Ms Gisa Paredes, licensed psychologist and corporate wellness consultant (front row, 6th from left). 24 World Horizon Issue 1H/2020 World Horizon Issue 1H/2020 25

In the World Horizon speaks with Marco Beenen, CEO of BW Offshore

World Horizon [WH]: Tell us about your background. WH: What do you enjoy most about working in the offshore/FPSO industry? Marco Beenen [MB]: I hold a Master’s Degree in Naval Architecture and Offshore Hydrodynamics from Delft University of MB: In the oil & gas industry, and the FPSO segment especially, Spotlight: Technology in the Netherlands. When I finished university, I started we are working on a different scale compared to civil onshore working for SBM, where I had the opportunity to pursue global activities. By all measures we manage complex, resource- assignments in locations such as Monaco, South Korea and USA. In intensive projects with a relatively small team – billion-dollar 2007 I was appointed President of GustoMSC Inc. and I relocated investments, extreme environments, truly global operations to Houston, USA. Later I was appointed Vice President for SBM with significant local footprint in many countries, all working Atlantia Inc., where I was until I joined BW Offshore in 2012 as towards the delivery of a very fundamental product: energy. Vice President (Business Development Europe), and I relocated to Marco Oslo, Norway. Since then, I have taken on the roles of Senior Vice President for the West African fleet, and Chief Operating Officer. WH: What are some of your key ideas for running a In July 2019, I stepped into the role as Chief Executive Officer successful organisation? (CEO), and I am honoured to take the helm at BW Offshore. MB: It is important that we have an organisation with a culture of ‘doing the right thing’. That means we make smart Beenen WH: What will you strive to achieve in your role? business decisions, but also know that we do not operate in a silo: we impact the environment in which we operate and MB: I want to make sure that BW Offshore will be well-positioned the communities we are a part of. I also believe a successful for a sustainable future. We are a company with a long and great organisation has a culture where every employee is given the history, and we need to pace ourselves in a rapidly changing opportunity to develop professionally in an interesting and landscape which presents new opportunities and threats. As meaningful way. Personally, the latter has been the biggest a relatively small but global organisation, we have delivered reward I received from the organisations I have worked in. large projects and managed flawless operations even under difficult conditions. We have built invaluable internal competence and experience which we can offer to our customers today. WH: Tell us a little-known fact about yourself.

MB: I love skiing, and growing up in the Netherlands, I have WH: Where do you see BW Offshore in the future? always had a dream to someday own a mountain cabin with great ski slopes. This year I finally realized my dream, with MB: BW Offshore is a great company with a flexible and a cabin just a few hours outside of Oslo. I hope to spend as adaptable global organisation. We have created a key position much time there as I can with family and friends! wh in the FPSO industry and in the last three years we have built an E&P company, BW Energy, which in combination with BW Offshore can deliver outstanding oil & gas project solutions. We will build on that, and in the same spirit, develop new business segments in the energy production space of the future. 26 World Horizon Issue 1H/2020 World Horizon Issue 1H/2020 27 Zero Harm

Removable Page (Tear along perforation) ZERO HARM Art Competition ART COMPETITION Contest Details “Zero Harm: Take time to take care of Theme Zero Harm: Take time to take care of your Safety, Health and Well-being your Safety, Health and Well-being” Entry Period 15 June 2020 - 15 August 2020 Eligibility Children or siblings aged 15 years and below of current BW staff (on board Into its third year, BW continues its search for and onshore), of all affiliates, including 3rd party managed ships the next batch of budding artists Age Category A - 7 years and younger B - 8 to 11 years old C - 12 to 15 years old What can I use Any standard drawing medium such as colouring pencils, crayons, water colours or markers. Only restriction is that no digital tools should be used. Prizes for each category First Prize: US$500 Second Prize: US$350 Third Prize: US$150 How to enter 1. Prepare artwork according to the requirements. Recommended size of paper: A3 - 297 mm x 420 mm (11.69 inches x 16.53 inches). Maximum size: 400 mm x 550 mm (15.7 inches x 21.7 inches). Please note that submission on paper of a size larger than the maximum may lead to exclusion of the submission. (Above) Winning entries from the 2019 Zero Harm Art Competition. Left to Right: Onzon Goh, Yajat Bhargava, and Eunice Jane Lee Tenizo 2. Fill in the entry slip below and paste it at the back of the artwork. 3. Mail completed artwork to any BW Office worldwide. W is pleased to announce that the third Zero Harm Art Zero Harm is more than a corporate vision; it means that Competition will be run from 4 May 2020 to 30 June everyone must commit to take personal responsibility for their 2020. In its third year, the theme is “Take time to take safety. And this art competition hopes to include the stakeholders Notes care of your Safety, Health and Well-being”. most impacted by our safe return from work – our families. Zero Harm Poster Art Competition Entry Slip B • All artwork submissions must be the The inspiration for this theme comes from the United Nation’s As in previous years, this competition is open to the children Name of Child (Age) ( ) original creation of the participant. Sustainable Development Goal 3, Good Health and Well-being. and siblings, aged 15 years and below, of all employees of BW • C opyright of all artwork submitted in this competition will belong to BW. According to the UN, “When people are in good health, societies and its Affiliates, including crew onboard third-party managed Category A (under 7 years) • O pen to all staff from all Affiliates. B (8 - 11 years) prosper. … The most important thing is to take care of yourself vessels. All original entries are warmly encouraged, and there • P lease give your entry sufficient time to be by leading a healthy lifestyle. Eat a balanced diet and exercise are two important requirements to be mindful of. First, any C (12-15 years) posted to the various BW offices, well before the regularly. … If you are a business, look into implementing medium can be used, but no digitally created content will be Address submission deadline of 15 August 2020. sustainable practices to reduce the use of harmful chemicals allowed. So, you can use pencils, chalk, charcoal, water colour, • M ultiple entries are allowed, subject to a maximum and pollutants that negatively impact people’s health”. crayons, acrylic or oil paints for your artwork. Second, please three entries, but a participant can only win one prize. take note of the paper size restrictions, with a maximum Telephone No. • A ny postage costs incurred in each submission is As a leading maritime energy transportation and infrastructure size of standard A3 paper. More details are available on the Name of BW Staff the responsibility of the respective participant. • B W will not be held responsible for lost mail. company, BW can implement policies and initiatives that competition poster. All entries must be mailed to reach any BW BW Affliate encourage good health and well-being of our crew and office by 15 August 2020 and must have the entry slip pasted • T he judges’ decision is final and winning entries will be announced by 1 October 2020. Should colleagues. Efforts such as the introduction of new anti- on the back. Queries can be written to jostein.vaagland@ Description of Artwork the prize be unclaimed by 31 October 2020, harassment and anti-bullying policy, fleetwide implementation of bw-group.com. All the best and happy colouring! wh the prize will be donated to charity. a Wellness Program at sea, the introduction of environmentally • For questions related to this art competition, please friendly detergents and soaps and even this art competition (Max. 50 words) email [email protected]. - all add up to a positive and supportive workplace . • F or addresses of BW offices, please visit www.bw-group.com/www.bwoffshore.com. Group Fleet Composition Removable Page (Tear along perforation) 28 World Horizon Issue 1H/2020 World Horizon Issue 1H/2020 29

15 19 1. 2. 27 Knowledge Sharing Living Zero Harm BW Group General Counsel BW LNG Korea’s site team crossed 28 and EVP (Corporate a significant milestone of 4 million 182 Services) Nicholas Fell (3rd manhours without any Lost Time Injury on Around from right) giving his views 15 January 2020. This achievement was 88 at a panel organized by possible only with the team’s laser focus Watson Farley & Williams on maintaining a strong safety culture and on 29 November 2019. emphasis on Zero Harm. Fleet List correct as of 15 April 2020 3. LNG Fleet LPG Fleet Hafnia Fleet (Handy) Hafnia Fleet (MR) Hafnia Fleet (Straits Tankers LR) Epic Gas Fleet Hafnia Supports Workforce Diversity Vessel Name Built CBM Vessel Name Built CBM Vessel Name Built DWT Vessel Name Built DWT Vessel Name Built DWT Vessel Name Built CBM the Hafnia signed up to Danish Shipping’s “Charter for More Women in Berge Arzew 2004 135,300 Berge Nantong 2006 80,599 Alice+ 2013 39,316 Aegean Star+ 2019 50,506 Bluebird+ 2016 74,074 Epic Bali 2010 7,200 BW Boston 2003 135,298 Berge Ningbo 2006 80,607 Ami+ 2012 39,310 Andes+ 2011 49,962 Bow Pioneer+ 2013 81,305 Epic Balta 2000 6,300 Shipping”, an event commemorated in Copenhagen on 23 January 2020. BW Everett 2003 135,267 Berge Summit 1990 76,919 Celsius Penang+ 2004 37,255 Basset 2019 50,000 Breezy Victoria+ 2007 74,998 Epic Baluan 2017 7,500 BW Brussels 2009 159,264 BW Aries 2014 82,512 Celsius Perth+ 2004 37,255 Beagle 2019 49,999 BW Amazon 2006 76,565 Epic Barbados 2001 7,200 The charter creates a framework to challenge shipping companies to BW Integrity 2017 173,400 BW Austria 2009 82,911 Hafnia Adamello 2004 39,807 Boxer 2019 49,999 BW Clyde 2004 73,400 Epic Barnes 2002 7,200 BW Lilac 2018 171,793 BW Balder 2016 83,301 Hafnia Bering 2015 39,067 BSL Elsa 2009 51,747 BW Columbia 2007 76,604 Epic Bell 2014 7,200 improve workforce diversity. BW Magna 2019 173,400 BW Birch 2007 80,657 Hafnia Green 2007 39,808 BW Bobcat+ 2014 49,999 BW Danube 2007 76,543 Epic Bermuda 2001 7,200 BW Paris 2009 159,274 BW Boss 2001 82,615 Hafnia Hope 2007 39,804 BW Cheetah 2014 49,999 BW Despina 2019 109,990 Epic Bird 2014 7,200 BW Pavilion Leeara 2015 158,629 BW Brage 2016 83,272 Hafnia Karava 2007 39,825 BW Cougar 2014 49,999 BW Galatea 2019 109,990 Epic Bolivar 2002 7,500 BW Pavilion Vanda 2015 158,646 BW Carina 2015 82,471 Hafnia Magellan 2015 39,067 BW Eagle 2015 49,999 BW Hudson 2007 76,573 Epic Bonaire 2016 7,500 BW Singapore 2015 166,756 BW Cedar 2007 80,614 Hafnia Malacca 2015 39,067 BW Egret 2014 49,999 BW Kallang 2017 74,189 Epic Boracay 2009 7,500 BW Tulip 2018 170,799 BW Confidence 2006 81,605 Hafnia Rainier 2004 39,817 BW Falcon 2015 49,999 BW Kronborg 2007 73,708 Epic Borinquen 2016 7,500 LNG Benue 2006 143,033 BW Elm 2007 80,645 Hafnia Robson 2004 39,819 BW Hawk 2015 49,999 BW Lara 2004 73,496 Epic Borkum 2000 7,200 World LNG Enugu 2005 143,007 BW Empress 2005 77,330 Hafnia Soya 2015 39,067 BW Jaguar 2014 49,999 BW Larissa 2019 109,990 Epic Borneo 2010 7,200 LNG Imo 2008 145,486 BW Energy 2002 80,898 Hafnia Sunda 2015 39,067 BW Kestrel 2015 49,999 BW Lena 2007 76,577 Epic Burano 2002 7,500 LNG Kano 2007 145,594 BW Freyja 2016 83,301 Hafnia Torres 2016 39,067 BW Leopard 2014 49,999 BW Neso 2019 115,000 Epic Caledonia 2014 3,500 1 2 LNG Lokoja 2006 145,557 BW Frigg 2016 83,294 Hafnia Victoria 2007 39,821 BW Lioness 2014 49,999 BW Nile 2017 74,189 Epic Catalina 2007 3,500 LNG Ondo 2007 145,484 BW Gemini 2015 82,471 Kronborg+ 2007 40,207 BW Lynx 2013 49,999 BW Orinoco 2007 76,577 Epic Cobrador 2009 3,500 LNG Oyo 2005 142,924 BW Kyoto 2010 81,633 Mount Everest+ 2010 37,817 BW Merlin 2015 49,999 BW Rhine 2008 76,587 Epic Cordova 2009 3,500 LNG River Orashi 2004 142,996 BW Leo 2015 82,511 Mount Kibo+ 2010 37,843 BW Myna 2015 49,999 BW Seine 2008 76,580 Epic Corsica 2009 3,500 BW Pavilion Aranda 2019 173,400 BW Liberty 2007 82,905 Nordic Hanne+ 2010 38,395 BW Osprey 2015 49,999 BW Shinano 2008 76,593 Epic Curacao 2014 3,500 BW Magnonia 2019 173,400 BW Libra 2015 82,512 Nordic Pia+ 2006 38,395 BW Panther 2014 49,999 BW Tagus 2017 74,189 Epic Madeira 2006 9,500 BW Aranthera 2020 173,400 BW Lord 2008 82,922 Ocean Dignity+ 2006 34,633 BW Petrel 2016 49,999 BW Thalassa 2019 115,000 Epic Manhattan 2007 9,500 NB 2496 DSME* 2021 173,400 BW Loyalty 2008 82,909 Ocean Spirit+ 2006 34,633 BW Puma 2013 49,999 BW Thames 2008 76,587 Epic Salina 2017 11,000 NB 2497 DSME* 2021 173,400 BW Magellan 2016 82,487 Shandong Zihe+ 2004 40,059 BW Raven 2015 49,999 BW Triton 2019 115,000 Epic Samos 2016 11,000 NB 2509 DSME* 2022 174,000 BW Malacca 2016 82,423 Sikinos+ 2006 37,620 BW Swift 2016 49,999 BW Yangtze 2008 76,593 Epic Sardinia 2017 11,000 NB 2510 DSME* 2022 174,000 BW Messina 2017 82,493 Skyros+ 2006 37,562 BW Tiger 2014 49,999 BW Yarra 2017 74,189 Epic Sentosa 2016 11,000 Pan Africa# 2019 174,000 BW Mindoro 2017 82,496 Tanker Spirit+ 2007 34,671 BW Wren 2016 49,999 BW Zambesi 2010 76,000 Epic Shikoku 2016 11,000 BW Njord 2016 82,425 VS Leia+ 2006 38,461 Celsius Palermo 2010 49,998 Compass 2006 72,934 Epic Sicily 2015 11,000 No. of vessels 28 4,440,907 BW Oak 2008 80,607 VS Lisbeth+ 2006 38,492 Celsius Porto 2009 49,999 Compassion 2006 72,782 Epic St. Agnes 2015 5,000 BW Odin 2009 80,793 Chios Star+ 2018 50,506 Estia+ 2007 73,711 Epic St. Croix 2014 5,000 + + Dry Cargo Fleet BW Orion 2015 82,512 No. of vessels 30 1,155,027 FSL Osaka 2007 45,998 Evridiki 2008 73,740 Epic St. George 2007 5,000 BW Pine 2011 78,553 FSL SGP+ 2006 47,470 Grace Victoria+ 2007 74,998 Epic St. Ivan 2015 5,000 BW Prince 2007 80,735 Hafnia Andromeda+ 2011 49,999 Hafnia Africa 2010 74,539 Epic St. Kitts 2008 5,000 Vessel Name Built DWT BW Princess 2008 80,735 Offshore Fleet Hafnia Ane+ 2015 49,999 Hafnia America 2006 74,999 Epic St. Lucia 2008 5,000 BW Acorn 2010 82,589 BW Sakura 2010 77,323 Hafnia Crux 2012 52,500 Hafnia Andrea 2015 49,999 Epic St. Martin 2008 5,000 BW Barley 2010 83,369 BW Thor 2008 80,677 Vessel Name Hafnia Daisy 2016 49,999 Hafnia Arctic 2010 74,910 Epic St. Thomas 2014 5,000 BW Canola 2014 81,344 BW Tokyo 2009 81,605 Abo Hafnia Henriette 2016 49,999 Hafnia Asia 2010 74,490 Epic St. Vincent 2008 5,000 BW Einkorn 2010 81,502 BW Trader 2006 77,058 Berge Helene Hafnia Kirsten 2017 49,999 Hafnia Australia 2010 74,539 Emmanuel 2011 7,500 BW Flax 2010 58,096 BW Tucana 2016 82,431 BW Adolo Hafnia Lene 2015 49,999 Hafnia Beijing 2019 75,000 Westminister 2011 9,500 BW Japan 2019 81,510 BW Tyr 2008 80,657 BW Athena Hafnia Leo 2013 49,999 Hafnia Caterina 2015 49,999 2019 81,564 BW Var 2016 83,000 Hafnia Libra 2013 49,999 Hafnia Europe 2006 74,997 No. of vessels 40 276,900 BW Kobe BW Catcher + BW Rye 2019 171,000 BW Volans 2016 82,451 BW Cidade De São Vicente Hafnia Lise 2016 49,999 Hafnia Guangzhou 2019 74,999 Berge Weisshorn 2004 185,237 NB 2335 MHI* 2020 82,320 BW Joko Tole Hafnia Lotte 2017 49,999 Hafnia Hong Kong 2019 74,999 DHT VLCC Fleet Berge Nyangani 2010 61,492 NB 2336 MHI* 2020 82,320 BW Cidade De São Mateus Hafnia Lupus 2013 52,500 Hafnia Shanghai 2019 74,999 Navigare Boreas 2016 61,800 Oriental King 2017 82,417 Hafnia Mikala 2017 49,999 Iris Victoria+ 2010 74,905 BW Pioneer + Vessel Name Built DWT NB 10974 OSHIMA* 2020 61,800 Yuricosmos 2010 77,330 Hafnia Nordica 2010 49,999 Jo Redwood 2013 73,847 Espoir Ivorien + NB 10975 OSHIMA* 2020 61,800 Petróleo Nautipa Hafnia Pegasus 2010 49,999 Justice Victoria 2010 74,902 DHT Amazon 2011 314,249 3 NB 10976 OSHIMA* 2021 61,800 No. of vessels 47 3,827,261 Hafnia Phoenix 2013 52,340 Kamome Victoria+ 2011 74,908 DHT Bauhinia 2007 301,019 Polvo + NB 10977 OSHIMA* 2021 81,190 Sendje Berge Hafnia Taurus 2011 50,385 Lilac Victoria 2011 74,913 DHT Bronco 2018 317,975 NB 10848 OSHIMA* 2020 81,600 Himalaya 2011 49,936 Magic Victoria+ 2012 74,902 DHT China 2007 317,794 Group LPG Fleet Umuroa + NB SC331 TSCL* 2020 81,600 Yùum K’ak’Náab HSL Anna 2009 51,747 Mari Ugland 2008 74,997 DHT Colt 2018 319,713 BW Matsuyama 2019 81,600 Ionian Star 2019 50,506 Mariann+ 2008 74,992 DHT Condor 2004 320,050 Vessel Name Built CBM + BW Osaka 2020 81,600 No. of units 15 Kouros 2008 49,999 Maribel 2007 74,999 DHT Edelweiss 2008 301,021 Clipper 1992 76,000 Lysias 2008 49,999 Marika+ 2008 74,996 DHT Europe 2007 317,713 No. of vessels 19 1,622,493 MP MR Tanker 1+ 2011 51,745 Marilee+ 2006 74,998 DHT Falcon 2006 298,971 No. of vessels 01 76,000 Orient Challenge+ 2017 49,972 Marinor+ 2008 74,997 DHT Hawk 2007 298,923 Orient Innovation+ 2017 49,946 Maritina+ 2006 74,993 DHT Jaguar 2015 299,629 Orient Star+ 2010 45,994 Mindoro Star+ 2009 73,676 DHT Lake 2004 298,564 Overseas Santorini+ 2010 51,622 New Century+ 2005 73,901 DHT Leopard 2016 299,629 Sanmar Santoor+ 2002 47,141 New Challenge+ 2005 73,964 DHT Lion 2016 299,629 Sanmar Songbird 2003 47,094 New Champion+ 2005 73,911 DHT Lotus 2011 320,142 Seameridian 2011 49,999 New Confidence+ 2005 73,896 DHT Mustang 2018 317,975 Star Eagle+ 2007 51,202 Nexus Victoria+ 2015 74,910 DHT Opal 2012 320,105 Star Merlin+ 2007 53,755 Nord Lavender+ 2017 74,197 DHT Panther 2016 299,629 Nordic Anne+ 2009 73,774 DHT Puma 2016 299,629 No. of vessels 65 3,254,531 Nordmars+ 2004 74,999 DHT Raven 2004 298,563 Nordmekur+ 2004 74,999 DHT Scandinavia 2006 317,826 Nordneptun+ 2004 74,999 DHT Stallion 2018 319,713 Nordvenus+ 2004 74,999 DHT Sundarbans 2012 314,249 Norstar Integrity+ 2006 74,065 DHT Taiga 2012 314,249 Norstar Intrepid+ 2006 74,034 DHT Tiger 2017 299,629 Norstar Invictus+ 2007 73,611 DHT Peony 2011 320,013 Orange Victoria+ 2019 74,430 DHT Redwood 2011 314,249 Palawan Star+ 2008 73,796 Ploutos+ 2006 73,711 No. of vessels 27 8,360,850 Red Eagle+ 2011 74,996 Starling+ 2016 74,032 Summit Africa+ 2009 73,394 BW LPG BW LNG Sunda+ 2019 79,999 Useful Contacts TBN 1 2020 75,000 Website www.bwlpg.com Singapore +65 6337 2133 TBN 2 2020 75,000 Tectus 2009 74,862 Singapore +65 6705 5588 Norway +47 6721 1600 Two Million Ways+ 2008 73,965 USA +1 713 781 0670 USA +1 713 781 0670 UACC Eagle+ 2009 73,410 BW Group UACC Falcon+ 2009 73,427 UACC Ibn Al Haitham+ 2009 73,338 Website www.bw-group.com Hafnia UACC Ibn Sina+ 2008 73,338 Singapore +65 6337 2133 DHT Tankers Website www.hafniabw.com No. of vessels 87 6,761,702 Singapore +65 6434 3770 Website www.dhtankers.com BW Offshore Denmark +45 3369 9000 Bermuda +1(441) 295-1422 USA +1 713 955 0250 Norway +47 23 11 50 80 Website www.bwoffshore.com India +91-22-4248 4000/ Singapore +65 6500 4190 Singapore +65 6632 7888 2837 0101 Norway +47 2313 0000 USA +1 713 781 0670 Epic Gas Nigeria +234 127 05 146/ BW Dry Cargo Website www.epic-gas.com +234 127 05 147 Singapore (Principal) +65 6337 2133 Singapore +65 6230 7801 Brazil +55 2125432339 Denmark (Agency) +45 7211 2820 London +44(0)203 321 5450 * Newbuilding | # 10% equity stake on these vessels. | +Pool vessels ^ The BW VLCC Fleet was sold to DHT in 2017 in exchange for a significant shareholding (33.5%) 30 World Horizon Issue 1H/2020 World Horizon Issue 1H/2020 31

4. 5. 6. 7. 8. El Salvador’s LNG-to-power Initiative BW Yushi BW LNG Global Team Meeting Success for BW Energy and BW Offshore Getting Through Tough Times Together BW LNG signed a contract with Energía del BW Yushi was delivered to BW LNG held a global team meeting In early March, BW Energy successfully BW Offshore’s BW Pioneer Crew spending their Pacífico (EDP)/ Invenergy LLC to be part BW LPG in February 2020. We on 8 February 2020 to strategize and started the DTM-5H Well. It took close to 14 quarantine time in camps set up in Cocodrie, Louisiana, of El Salvador’s first LNG-to-power project, wish the crew fair winds and decide a roadmap for the company. hours before some movement was seen. to accommodate the quarantine period for offshore crew scheduled to be operational by the end- following seas! First oil was achieved on 4 March 2020. during their off-periods. 2021. Pictured here is BW LNG’s Managing Congratulations to the Project and Production/ Director Yngvil Åsheim (right) presenting Reservoir teams from both BW Energy and the signing gift to Invenergy’s Owner BW Offshore for the successful operation. Michael Polsky (left).

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9. 10. January Staying Connected with an E-Booth Contributing to a Better World 25 Jerez Elvis Ardales, 2nd Officer BW Offshore stays connected with students in BW LPG shore staff and their families Years Singapore during social distancing restrictions participated in the Seven Clean Seas event, due to the COVID-19 pandemic. cleaning the trash off Changi Beach in Special February Singapore in January 2020. Bjarte Turøy, Chief Engineer

9 March Corage Jude, 2nd Officer Thanks Genise Ernesto General, Oiler Hilario Aladino Jr. Tandog, Motorman Jose Dennis Quimado Reynoso, GP Maintenance Leslie Fernandes, Hse Superintendent To . . . April Sajol Antonio Orang, Able Seaman Surajit Chanda, VP, Technical

March May Edgar Andersen, Master Rodrigues Adrian Blaise, Master

June March Jan Egil Trondheim, Chief Engineer Anthony David Dawson, Chief Officer Avecilla Marlon Ninada, Chief Officer Barrios Samson Villagomez, Bosun January Cuyos Aladin Rodrigo, Bosun Dacalos Darius Mehoy, Bosun 30 Johnny Tagatac, Maintenance Technical Engineer Years De Armas Donald Galman, Chief Cook Ole Erik Bjørge, Marine Superintendent Edulsora Arthur Lagar, Able Seaman 10 February Gaviloria Ernesto Jr. Saquibal, Chief Cook Rabacca Roberto Del Mundo, Chief Officer Morgia Jimmy Rurac, Chief Cook Velasco Bienvenido, Messman Ørjan Halvorsen, Chief Engineer March Charles Arve Leite, Master

January April 20 Years Andres Bøhm, Senior Crew Manager Rune Ingvald Olsen, Chief Engineer Boby Mathew, Bosun Ceniza Rene Macatangay, 3rd Engineer May Mohanraj Balasubramaniam, Cargo Engineer Adarsh Shukla, Competency Assessor Olav Johan Nilsen, Paint Superintendent Finn Arild Andersen, Electro Technical Officer Siby Abraham, Master Per Seljeseth, Master Tronco Aldwin Borro, Engine Fitter

June February Bjøn Egil Haugen, Chief Engineer Amit Nandrajog, General Manager, Operations Charles Anders Murray, Master Samson Rene Gumba, Chief Cook 34 World Horizon Issue 1H/2020 World Horizon Issue 1H/2020 35

March February January May 20 Ayon-Ayon Sherwin Dela Cruz, Chief Officer 15 10 10 Years Years Esther Ndubisi, Offshore HC Coordinator Years Ogbonya Okafor Gabriel, 3rd Engineer Years Ada Stephen, Cadet Cruz Alden Rivera, 2nd Engineer Perlin Kenard Ngoma, Senior Process Operator Onoh Augustine Emeka, 2nd Officer Anders Bengtsson, Engineering Mariner Dinanath Nandanwad, Romarique Makaya, Assistant Process Operator Palaje Melbert Paje, Able Seaman Armando Rex Michael Pacla Salvador, Techical and Maintenance Manager Raminder Chhatwal, Technical Superintendent Marine Operator Igors Bogdanovics, 2nd Engineer March Robson Pinto Igino, Crane Operator Bennet Stanley Tamunoene, 2nd Cook Libo-On Romyrey Balladares, 2nd Officer Knut R. Sæthre, Chief Financial Officer Unnikrishnan Kozhikote, E&I Supervisor Dago-Oc Benzie Gulben, 3rd Officer Silla Eugene, Chief Officer Domingo Mark Del Rosario, 2nd Cook February Dsouza Linus John, Office Staff April April Kalamegam Suman, Mechanical Technician Ekele James, Able Seaman Anandan Binoykumar Tharayil, Reef Fernandes Danzil Osben, Chief Officer Nikolai Belov, Maintenance Superintendent Manchalath Rijesh Kumar, Able Seaman Andrew Robert Nunn, Chief Engineer Joan Ong, Estimating Engineer Shyamkumar Meenakshisundaram, Palaganas Earl, Able Seaman De Guzman William Bilas, Oiler Production Superintendent Pallikkunnath Bruno Jose, Chief Officer Murali Mohan Jami, Senior Engineer Process Karappamveetil Beeran Sikkender, Motorman Rommel Cierva Cas, Senior Utility Operator Nwachukwu Ihenayi Nnamdi, 2nd Cook Madoure Soudagarane, Pump May Rubens Sydio Ferreira, Instrument Technician Osakpiet Monday Nwaka, 2nd Cook Margarito De Ocampo, Pumpman Sane Sushant Vinod, 3rd Officer Rene Jose Cosme Brito Dos Reis, Dhanjal Harman Preet Singh, Chief Officer Mechanical Technician Padit Fidel Ecle, Able Seaman Tracey Lim, Accounts Payable Specialist Karuppan Ashokan, Cook Shafir Shamsuddin, 2nd Engineer Ramaswamy Krishnamoorthy, Upadhyay Amit Shrikant, 2nd Engineer May Senior Production Operator March Hinola Dennis Ii Labiaga, Messman Ramasya Ajay Magan Babu, 2nd Officer Angelo Dos Santos Lima, Mechanical Technician June Rout Susanta, Messman Laureles Gilbert Loyola, 2nd Cook Edah Dovi, Office Assistant Agnaldo Faustino Martins, GP Marine Tharsis Fernando Karunakaran, Bosun Reyes Jonas Tamayo, Chief Cook Gurvinder Singh, Able Seaman Alonso Dias Do Carmo, Instrument Technician Hans Lyonel Bantsantsa, Steward Angeles Bryan Dequina, 2nd Officer June Jules Bertin Beboko, Baker Barangan Harley Regidor, 3rd Engineer June Bisht Anirudh, 2nd Engineer Julius B. Villas, Utility Operator Binoy David, Messman Fernandes Januario Remie, Motorman Dela Pena Edwin Rondin, Chief Engineer Michael Rasmussen, Chauhan Hasmukh Ratilal, Motorman General Manager, Performance Kulkarni Prashant Rajaram, Georges Wora, Cook Cua Jacinto, 3rd Engineer Ricky Edu, Bosun/Crane Operator Electro Technical Officer Luc Sigui, Base Manager De Guzman Daryl Reamon, 3rd Officer Soren Skibdal Winther, Vice President, Commercial Milan Bobby Narsico, Chief Engineer Valerio Marlon Castro, Cargo Engineer Lauron Giovanni Pagador, 2nd Engineer Napuli Dante Galolo, Oiler Steeve F Rilewe-Agambouet, Cabin Boy Lobina Rey Limor Llarena, 2nd Officer Obedoza Tito Abrazado, 2nd Officer Viktors Semjonovs, Maintenance Supervisor Macasojol Cornelio, 2nd Officer Rajendran Newton, Motorman Yannick Bekale Mba, Assistant Safety Officer Punongbayan Allan Jeffrey Ambulo, 3rd Engineer January Roy Tapan Kumar, Chief Engineer 10 Zoundi Kisdawaogo Jean, Office Assistant Rosell Jake, 3rd Engineer Years Abdulahi Ahmad Tijani, 2nd Officer Sean Maddock, Senior CCR Operator Adedokun Adeshina Joseph, 3rd Engineer April Tabares Ian Neil Ledesma, 2nd Officer Aja-Igwe Ogechukwu, Cargo Engineer Trainee Tare Grendel Jalapit, 3rd Engineer Austin Thomas Rohan, 2nd Engineer Alvin Gabinete, Control Room Operator Umali Kemuel Angeles, Able Seaman January Banal John Harris Musni, Able Seaman Anders Engholm Madsen, 15 Byle Somanna Madan Mohan, Able Seaman Bruno Barros, Control Room Operator Years Executive Vice President, Pool Management Clitar Leo Acodili, Able Seaman Carlos Henrique De Oliveira Barreto, Balbuena Erwell Ramos, Able Seaman Retired Eduarte Manuel Candelaria, 2nd Officer Production Operator Effiong Nathan Okon, Junior Chief Officer Alexander Minasidi, Master Joseph Hernandez, Steward Dmitry Nikolaev, Offshore Installation Manager Ibeabuchi Ikechukwu Jude, 3rd Engineer Anatoly Zakharov, Master Nacianceno Lysander, Able Seaman Freddie Orocio, Marine Superintendent Isa Hentoe Jarlath, 3rd Engineer Bangoy Lorenzo, Oiler Nimer Fredeth John Advincula, Able Seaman Koil Pitchai Gnana Selvan, Pump Knut Borgen, General Manager Bruno Andrade, VP Finance Americas Sherwin Botabara, Medic Mathew Reji, Control Room Operator Kundil Valappu Surendran, Cook Nicholas Jackson, HSSEQ Manager Taiwo Adansoedo, Protocol Officer Stefanes Booysen, Senior E&I Technician Matthew Tsmarada Bala, 2nd Officer Rune Albert Dahl, Master Uson Dennis, Master Tadeu Pereira Guimarães, Control Room Operator Nnubogu Chiemeka Justice, 2nd Officer Simon Dale Atkinson, Chief Engineer Wilfredo Mariano, Mechanical Technician Torfinn Buarøy, Fleet Senior Advisor 1H

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Dr Sohmen receives the Medal of Honour from the Mayor of Vienna, Helmut Zilk in 1989