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Focused on Delivery Editorial Publisher for Further Information, BW Group Please Contact 02 WorldHorizon 2016 QUARTERLY MAGAZINE OF THE BW GROUP MCI (P) 115/11/2015 Focused on Delivery Editorial Publisher For further information, BW Group please contact: Responsible Editor BW Maritime Pte Ltd Nick Fell 10 Pasir Panjang Road #18-01 Mapletree Business City Managing Editor Singapore 117438 Lisa Lim + 65 6337 2133 Editorial Team BW Gas AS Arathi Menon Professor Kohts vei 5, 1366 Lysaker Kate Langstrøm P.O. Box 443 Christina Chu 1327 Lysaker, Norway + 47 6721 1600 Contributions From Anders Bohm BW Offshore Norway AS Arun Varghese Drammensveien 149 Chris Gomez P.O. Box 33 Skøyen Christian Bonfils 0212 Oslo, Norway Christian Clausen + 47 2313 0000 Geoff Pearson Ivy Yap BW Pacific Pte Ltd Jakob Hjortlund 10 Pasir Panjang Road #17-01 Kamlla Moestue Rostad Mapletree Business City Kei Ikeda Singapore 117438 Lauren Teh + 65 6434 3770 Linda Sørensen Margaret Song BW LPG Pte Ltd Marita Sandvoll 10 Pasir Panjang Road #17-02 Miriam V. Basco Mapletree Business City Mukesh Sharan Singapore 117438 Sarah Soon + 65 6705 5588 Shivas Kapoor [email protected] Siddharaj Pathare Venu Viswanadha Vibhas Garg Vijay Mahindran Zhihui Seah Design & Production Lancer Design Pte Ltd WorldHorizon Contents 02/2016 04 CHAIRMAN’S MESSAGE 22 SOWING SEEDS OF GROWTH BW’s Dry Bulk department gets busy 24 EXPANDING THE PANAMA CANAL BW congratulates the Panama Canal Authority on this momentous achievement 26 A STINT ON SHORE Arun Varghese, Second Officer, pens his thoughts on his time on shore as part of 16 the Office Attachment Program 14 IN THE SPOTLIGHT 16 STRENGTH IN NUMBERS 28 MARINE MONEY AWARDS BW LPG CFO Elaine Ong talks about GLOBAL BW nd BW LPG was ranked 2 Place in Marine building on the strong foundations of the 08 CHASING THE CLOCK Money’s 2015 Rankings of Top Shipowners company at a time of increased global BW Pacific’s Operations Team expands volatility and how she works with the globally to provide 24-hour service team to enhance the proven operating coverage platform that is BW LPG 10 TAKING IT TO THE TOP Focusing on the human element in safety initiatives to take BW to the forefront of 13 BW GROUP FLEET industry 14 ARE YOU SMARTER THAN A SEAFARER? 29 AROUND THE WORLD The shipping industry needs the best and the brightest at the helm 33 BW CRYPTIC CROSSWORD 18 NOT A STRAND OUT OF PLACE Careful planning ensured a smooth replacement of spiral strand wires for FEATURE FPSO BW Pioneer after four years on 06 WELCOME ON BOARD! 34 SPECIAL THANKS TO... the job Christian Clausen joins BW as a member of the BW Group Board of Directors 20 GOTTA CATCH THEM ALL The Catcher Project progresses smoothly and sails to Singapore for the next phase of preparation 4 World Horizon Issue 02/2016 Chairman’s Message World Horizon Issue 02/2016 5 he headlines of the past few coming together to support the company, So in spite of political uncertainty and months have been dominated which is determined to come out economic pressures, our business by Britain’s vote to leave the stronger and leaner from the current continues to grow through a focus T European Union. Terrorist acts downturn. The biggest project, the on things we can control - prudent in America and Europe, an attempted Catcher FPSO, is now progressing at investment, commercial effort, and coup in Turkey, and ongoing concerns Keppel in Singapore. operational efficiency. We are grateful about economic recovery have created to our colleagues and business additional uncertainty. Some political After a lengthy period of dedicated partners around the world for the hard leaders have looked to exploit this work by the LNG team, we are fixed on work and collaborative spirit. by taking up populist positions, or by subjects for our next FSRU BW Integrity appealing to nationalist sentiment, which will be delivered at the beginning reversing a longstanding trend towards of 2017. The first two Dry Cargo ships globalisation and open markets. If this were acquired - BW Acorn and BW Barley continues, it will impact energy, shipping (82,000 dwt size) - and placed on period and global trade in the long run. charter to Glencore. Our operational improvement project “Pi16” continues In the short term, we have to grapple at full speed, with a combination of Sincerely, with falling ship prices, declining outsourcing and internal productivity Andreas Sohmen-Pao freight rates, and cutbacks in energy initiatives ensuring that we stay cost Chairman investments. Challenging as this may competitive going forward. seem, we obviously have to make the best out of it and influence what we On the personnel side, Tina Revsbech can control. started as new CEO of BW Pacific on August 1, and will give additional steer The second quarter was a busy one. to the organisation through these BW Offshore went through a successful uncertain times. We welcomed Christian process to extend its current financing Clausen to the BW Group board and under new terms. It was positive to see Thomas Thune Andersen to the BW banks, bondholders and shareholders Offshore board. 6 Global BW World Horizon Issue 02/2016 Welcome on Board! Christian Clausen joins BW as a member of the BW Group Board of Directors BW welcomed a new Board Member on 18 May 2016. Mr Christian Clausen is a prominent member of the banking industry, and hails from Copenhagen. World Horizon speaks to this established and genial banker, and hears what he has to say about BW and Very Large Crude Carrier BW Utik. World Horizon Issue 02/2016 Global BW 7 I have met many very competent and knowledgeable people at BW and my impression so far has been that the four company values are deeply rooted in everyone I’ve spoken with. World Horizon [WH]: Welcome to BW! WH: You visited the Copenhagen WH: The BW Group Board is made up Please introduce yourself to the BW office where you attended your first of a stellar cast of characters, from a family BW Board meeting, and came by the former Minister to two Knights, and Singapore office where you boarded you are no less established! What do Christian Clausen [CC]: I have spent VLCC BW Utik. What has been your you hope to achieve as a member of 34 years in banking with Nordea, impression of BW so far? the Board? and have done almost everything from Asset Management to Capital CC: BW is a very impressive group with CC: I remain humble as I begin my term markets, Investment Banking, Retail and a strong global and long-term view on as Director on this very experienced Board Commercial Banking. I became Nordea’s business led by its visionary Chairman of great people. Maybe the elements of President and CEO in 2006. During the Andreas Sohmen-Pao. I have met many capital allocation and the understanding 2008 financial crisis, Nordea fared well very competent and knowledgeable on how various risks work together are in the storm and I spent much effort and people at BW and my impression so far elements where I can contribute. resources to help rebuild the financial has been that the four company values sector and propose new regulations. I are deeply rooted in everyone I’ve WH: Having sat on the Board of many also served two terms as Chairman of spoken with. other companies, what do you think the European Banking Federation (2011- we can do/ continue to do to outclass 2015). On the personal front, I am an WH: What left the biggest impression competition? economist from Copenhagen with an on you after your visit on board BW Executive MBA from Insead. I have a Utik? CC: Continue to have global horizons wonderful family with my wife Anette and a long-term view on business - and two children (24 and 26 years), both CC: The focus on “Zero Harm” and safety this is key and will continue to play an active in business, and we love to travel was “all over” and it was clear that important role in creating value. Bold the world and to sail (in small ships). the crew on board was 100 per cent steps combined with competent execution focused on taking good care of the ship are also critical and these are already (and I still wear my Zero Harm rubber fine signatures of BW as shown in the bracelet which was given to me!). Also, company’s track record. the pride on belonging to the BW Group was evident. Welcome onboard, Mr Clausen, and we wish you many successful years as a Member of the BW Group Board of Directors. For more information on Mr Clausen, visit our website at http://www.bwgroup.net/our-people/ board-of-directors. 8 Global BW World Horizon Issue 02/2016 Chasing the Clock BW Pacific’s Operations Team expands globally to provide 24-hour service coverage hen you manage the office presence based in Singapore to Like Sprockets operations of about 40 Long become what is now a global team The Operations Team implements the Range 1 and Medium Range covering the major time zones with Charter Party agreements drawn by the Wproduct tankers which call offices in Singapore, USA (Houston), Commercial Team. Says Siddharaj Pathare, at ports all over the world, you will need and Denmark (Copenhagen). Operations Manager “Like sprockets, answers to a fundamental geographical every team member engages with fact – the sun rises and sets, and even With an increasingly dispersed team, different stake holders to ensure that the the most hardworking teams have it becomes critical to standardize undertaken voyage is completed safely and families and loved ones to return to, and work processes and have a proper in compliance with the Charter Party.
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