Oldendorff Centenary Book - Flipbook - Page 145
WHAT DO YOU
WANT TO ACHIEVE?
This was the question put to me
in Hong Kong by a respected
Indian shipowner.
It was only a courtesy visit and I was prepared for the usual
exchange of information and niceties. It was different this
time. I heard the unexpected and philosophical questions:
“What are your objectives in life?”, “What do you really
want to achieve?” I admit: I was speechless for a while.
What was I to answer? I remember having mumbled
something about the 15% internal rate of return I would
normally achieve and expect on my investments. The
gentleman on the other side of the table smiled but did
not seem impressed with the reply.
He has certainly also striven for growth provided the risks
he took were calculable and as long as he could steer clear
of greed and arrogance.
Some companies point to their turnover as a measure
of success. It is easy to blow up your turnover by buying
and selling assets. Profit and loss accounts can be just
as misleading. Investing at the right time may produce
heavy book losses through depreciation in a given year,
yet the seeds may have been planted for growth and good
profitability in the future. The only true indicator of success
is a strong and growing net asset value.
So, what is it that drives our ambitions? Job satisfaction
and a healthy family? Most certainly, yes. But when we
have achieved that, what makes many of us want to
expand the business further? Why do we want to see it
grow bigger and bigger? What are we doing on this planet,
in the middle of an endless universe, from cradle to grave?
Of course, our most important assets are our staff. Today,
I pay tribute to the large number of men and women who,
through their hard work, dedication and loyalty, have
helped Egon Oldendorff grow and prosper. Without them,
there would be no anniversary and no celebrations.
You may have the answer. Frankly, I have not found it yet.
But, even if we still search for that answer, we strive to
give our charterers, our shippers and receivers a good
and reliable service. They can count on our commitment
to carry their cargoes around the globe, safely, and
arriving on time.
To describe the skills and efforts of those who have served
the company afloat and ashore would fill another book.
Also, it would be less than fair to mention some and leave
uncommented the efforts of many others.
This book commemorates our 75th anniversary. It tells
stories about the ships and describes the activities of our
subsidiaries.
Egon Oldendorff will continue to grow, but shipping is
a cyclical industry with capital-intensive investments,
volatile markets and a high risk profile. The safety net is
our company policy whereby debts should not exceed a
level of 50% of the market value of all assets. This way,
we will always be on the safe side.
Let me express my sincere thanks to all our business
friends who have trusted us and helped us along the way.
What has driven us to achieve what we did in the past?
We may never know, but we are certainly proud of it.
In this respect I follow the philosophy of my father, the
founder of the company. His achievements are described
in this book and, in the last chapter, I am quoted as having
characterised him as a man who was “bold and cautious”
at the same time.
Henning Oldendorff
February 1996
141
