New Strategy News

With its new CCS-strategy, the European Commission has outlined a common direction for the capture, utilization, and storage of CO2 in the EU. The strategy highlights Denmark as a pioneer in the field, and Danish Shipping predicts that Denmark could play a central role.The strategy, named the "Industrial Carbon Management Strategy," sets the framework for the ambition to build an internal market for CO2, benefiting both the climate and employment. All measures are aimed at achieving…

Belgian tanker operator Euronav and its controlling shareholder CMB have entered into a share purchase agreement for the acquisition of 100% of the shares in cleantech maritime group CMB.TECH for $1.15 billion in cash.Euronav said the transaction is part of its renewed strategy of diversification, decarbonization and accelerated optimization of the its current crude oil tanker fleet, driven by CMB.TECH’s ‘future-proof’ fleet of 106 low carbon vessels, of which 46 are under construction.CMB.TECH builds…

Danish family-owned company Uni-Tankers has achieved record financial results for the financial year 2022-23 which it attributes to being a “streamlined organisation ready to seize each opportunity.”Earning after tax were USD 61.0 million, an increase of USD 66.1 million from last year’s result despite constrained availability, higher cost of charter tonnage and higher interest rates.Uni-Tankers' fleet is one of the youngest in its core markets, comprising approximately 40 owned and chartered modern and flexible product and chemical tankers.

Offshore construction company Havfram Subsea said Thursday it was taking back its Ocean Installer name.The company's subsea business was known as Ocean Installer from the company's inception in 2011, with the 2020 name change reflecting its diversification into the offshore wind industry. The relaunch follows last year's announcement of the sale of Havfram's wind business lines. "Ocean Installer's operations focus on all aspects of offshore marine construction, encompassing both the traditional oil and gas and emerging renewables markets.

Chevron Marine Lubricants’ new Taro Ultra Advanced 40 has passed the Main NOL (No Objection Letter) Service and Confirmation field tests by MAN Energy Solutions, which allows the oil’s uninterrupted use in its Mk 9 and later engines.Since the International Maritime organization (IMO) 0.5% sulphur cap came into effect on 1 January 2020, the engine designer has defined two performance standards for lube oils intended for use in their two-stroke engines. To deal with changing fuel variants and engine designs…

Salvors will remove cargo from the grounded containership Ever Forward as a means to lighten the vessel for another refloat attempt near the Port of Baltimore, the U.S. Coast Guard said on Monday.The Hong Kong-registered containership has been stationary since March 13, when it ran aground outside of the Craighill Channel in the Chesapeake Bay. No injuries or pollution have been reported. Dredgers have been digging out around the stuck box ship, and last week groups of tugboats were twice unsuccessful in trying to dislodge the 1…

The UK plans to give a boost to the country's shipbuilding sector, with Prime Minister Boris Johnson announcing a £4 billion (around $5.26 billion) injection into regional shipbuilding "to support thousands of high-quality jobs."The PM's office said in an announcement Thursday that funding will support shipyards and suppliers across the UK, delivering a pipeline of more than 150 new naval and civil vessels.The multi-billion pound investment will galvanize and support shipyards and suppliers across the UK…

Demand for LNG-fuelled newbuilds is growing across the shipping industry, and with it Danish pump specialist Svanehøj reports it has quadrupled its sales of fuel pump solutions in 2021 and is heading for an all-time high order intake. 2021 has been a record year for new LNG dual-fuel shipbuilding contracts, which has a very positive impact on the order books at Svanehøj. The company reports 2021 was a banner year with an order intake of nearly $122 million, or 50% more than the previous record set in 2014.Svanehøj’s patented DW fuel pump solution is one of the main growth drivers.

Britain has approved plans to turn away boats illegally carrying migrants to its shores, deepening a rift with France over how to deal with a surge of people risking their lives by trying to cross the Channel in small dinghies.Hundreds of small boats have attempted the journey from France to England this year, across one of the world's busiest shipping lanes.Border officials will be trained to force boats away from British waters but will deploy the new tactic only when they deem it safe…

Maritime security risk management firm Dryad Global announced Tuesday it has appointed Teresa Peacock as its first non-executive director.Peacock is currently managing director at maritime staffing and recruitment firm Spinnaker Global and a member of the Maritime UK’s Diversity Taskforce, a board member of the Women's International Shipping & Trading Association (WISTA UK) and a part of the All Party Parliamentary Group for Women and Work. Her experience spans a career in recruitment of over 30 years…

Hempel announced an ambitious strategy to double its revenue by 2025, with a strong focus on innovation and digitalization.Hempel has faced its fair number of challenges over its 105 year history, with COVID-19 and the year 2020 presenting historic challenges in the global supply of coatings. Hempel is taking the opportunity to devise and enact a new strategy on how to focus the company over the next five years, aiming to double revenue through refocused geographical priorities…

Pernille Fritz Vilhelmsen has been appointed Executive Vice President & Chief People & Culture Officer and member of the Executive Management Board in Hempel A/S. She succeeds Peter Kirkegaard, a 13-year veteran of Hempel who has accepted a new opportunity outside Hempel as Chief Human Resource Officer in Haldor Topsoe A/S.Pernille has been Talent Management Director at Hempel since she joined from Maersk Line in 2017, and she has delivered remarkable results in a few years.“Pernille is professional…

It is “pre-COVID ” April of 2018, and 174 member states of IMO adopt a new strategy to reduce greenhouse gases from shipping. The meetings are considered “urgent” and the target is to reduce carbon emissions in half by 2050. Prior to those “targets” shipping dealt with regulations to address SOx and NOx reductions. Most of which have resulted in limited success due to infrastructure problems and a consideration as a temporary fix.The technical world has responded with low sulfur fuels, LNG, and methanol to work towards the target.

Investment company Incus Investor has changed its name to Scana ASA and embarked on a new course as parent company for a group of equipment and service suppliers to the maritime industry. The head office will move from Stavanger to Bergen.Through its subsidiaries, Incus Investor has managed a broad Nordic industrial history that stretches back hundreds of years. As part of the company's new strategy, the board is planning an offensive maritime venture.Many probably recognize the new Scana name.

ABB’s new Chief Executive Bjorn Rosengren is determined to decentralize the Swiss engineering group to improve its performance, he told Swiss newspaper Neue Zuercher Zeitung in an interview.The company, whose products range from circuit breakers to electric motors for ships, has been weighed down by a business model that was too complicated, said the former Sandvik boss who took over in March.“I do intend to further decentralise,” he said in the interview to be published on Saturday.“Up to now we have only ever talked about four businesses…

Strict EU enforcement of competition rules prevents the development of the global champions necessary to compete with Chinese and U.S. companies, the head of shipping company Maersk warned in an interview."Is it really a good idea that we don't allow the creation of a European global champion? In doing so, we risk being outperformed by a Chinese company, over which the European Union has no influence," Maersk CEO Soren Skou told Danish business daily Finans.A Maersk spokeswoman confirmed his comments to Reuters.Skou is a member of the European Round Table for Industry (ERT)…

General Electric Co on Monday named finance head at shipper AP Moller-Maersk as its new chief financial officer in the latest top-level change aimed at turning around the U.S. industrial conglomerate.Carolina Dybeck Happe will start in early 2020 and replaces Jamie Miller, whose departure was announced earlier this year as new Chief Executive Officer Larry Culp seeks to simplify operations and generate cash after booking billions of dollars in losses.The company has been struggling with the fallout of a series of poor long-term financial bets…

The European Community Shipowners’s Association (ECSA) has published its new strategic priorities for 2019-2024, in line with the new cycle of the EU institutions where the European Parliament has just started its mandate and the European Commission's College is being composed.Entitled "Sailing ahead - European shipping sets ambitious goals for its next chapter", the publication outlines ten priority areas which the European shipping industry will be focusing on."To be very clear, climate is the top priority for the whole shipping sector," commented ECSA Secretary General, Martin Dorsman."The industry is keen to work with its European and global partners to reach the goal set by the IMO to cut CO2 emissions by at least 50% by 2050.

ABB Chief Executive Ulrich Spiesshofer has quit the Swiss industrial group as the board and major shareholders look for a speedier turnaround at the maker of industrial robots and supplier of factory automation.Spiesshofer’s abrupt exit follows the launch of the biggest overhaul in ABB’s 31-year history to reposition the company more toward digital industries and agreeing to activist shareholder demands to sell its power grids business.But the latest revamp by the former management consultant failed to revitalize ABB’s stock…

Lloyd’s Register (LR), which ranks as one of the world’s largest providers of professional services for the engineering and technology sectors, has chalked out a new strategy for future growth in the energy market.The firm, which started out in 1760 as a marine classification society and now has more than 7,000 staff globally, said that the first phase of its new global strategy for its energy business to reposition the professional services portfolio for growth through the energy transition, with an enhanced focus on providing solutions for their clients across increasingly complex operations and infrastructure. The transformation is being led by David Clark…

The maritime solutions company with expertise in ship management Wallem said that it  has updated its corporate identity to mark the beginning of a shift in its service offering that will harness the latest technology to improve asset management transparency and efficiency in a program intended to transform the relationship between owners and their shipsHong Kong headquartered Wallem Group is changing itself and its brand to support the maritime industry as it undergoes a structural transition.The refreshed corporate identity and logo reflects its ambition to establish a fundamentally new approach in collaborating with vessel owners…

As the liner industry has come to a turning point following a period of consolidation, Hapag-Lloyd unveiled its five-year strategy, prioritizing profitability, service, and cost savings in a container shippingLarge-scale acquisitions is not one of the objectives in German carrier's new strategy will characterize everything the shipping company does in the next five years, said its CEO Rolf Habben Jansen.Hapag-Lloyd is more than two times larger than it was in 2014 in terms of transport capacity. At the same time, further consolidation amongst the largest players in the industry is less attractive due to decreasing incremental scale benefits.As a result, the industry has come to a turning point.

The Danish Ministry of Industry, Business and Financial Affairs has launched a new sectoral strategy for the shipping industry. The strategy is a part of the Danish government’s national strategy for cyber and information security.The strategy contains a number of initiatives aimed at strengthening IT security and preventing cyber threats in the maritime sector, according to a press release from Danish Maritime Authority (DMA).The objective of the strategy is to ensure that safety in Danish waters and on board Danish ships is not compromised by cyber attacks.The responsibility for cyber and information security in the maritime sector lies with the Danish Maritime Authority.