Kristian Morch has decided to step down as CEO of Norway-based international chemical shipping and tank terminals company Odfjell, said the company.
Morch, who has led Odfjell since 2015, will continue in his current role until his successor is in place.
The Odfjell board has initiated a search for a new CEO, it said in a statement on Monday.
We remind, Odfjell is constructing a new tank bay at Odfjell Terminal Houston (OTH), continuing to expand and invest in its terminals platform to support ongoing regional growth in the chemical industry. Odfjell is investing in and expanding its terminals platform with the addition of a new, modern, automated tank bay. Bay 13 at Odfjell Terminals Houston (OTH) will increase capacity by approximately 9% to 413,400 cubic meters (cbm). The expansion project is consistent with OTH's strategy of positioning itself for healthy demand for storage capacity in the specialty/petrochemical industry in the US Gulf Coast region, where OTH has been operating at or near full capacity for years.
As MRC informed earlier, in July, 2020, Odfjell (Bergen, Norway) says a significant expansion of its European chemicals storage capacity had been completed at the port of Antwerp, Belgium.
Odfjell Terminals Houston (OTH), is owned by the Joint Venture Odfjell Terminals US which is owned 51% by Odfjell SE and 49% by Northleaf Capital Partners.
mrchub.com