Shipowner Agreements News

Maritime safety equipment manufacturer and global service provider VIKING Life-Saving Equipment A/S has acquired Norsafe, the Norwegian boatbuilder whose lifeboats are used throughout the world. The parties have not disclosed the sales price, and closing is expected October 1, 2018.Established in 1903, Norsafe produces a full range of free-fall lifeboats and fast rescue boats with davits and have supplied over 28,000 lifeboats to the global ship market over the years. Its lifeboat…

Marine safety equipment manufacturer and servicing provider VIKING Life-Saving Equipment A/S is to establish a local presence in Korea through a joint venture agreement with leading Korean marine safety equipment and servicing company Daemyung Marine Co. Ltd. The new joint venture, VIKING Life-Saving Equipment Korea LLC, has VIKING as the majority shareholder. The venture aims to bring faster access for Korean-based and foreign-flag ship managers in the cargo, passenger and offshore segments to the full range of VIKING products and service concepts. It is also the logical next step for a highly successful partnership that has extended over more than 30 years.

VIKING Life-Saving Equipment A/S has acquired a part of Australia-based Wiltrading Pty Ltd.’s maritime safety equipment activities effective 1 September. The move strengthens VIKING’s offering in Australasia, adding 4 locations to the company’s global network of wholly-owned servicing stations as well as several products and services, bringing new advantages for shipowners and offshore operators in the region. A subsidiary of Wilh. Wilhelmsen Investments (WWI), Wiltrading offers integrated activities in marine safety, fire fighting and protection, equipment and servicing, serving the offshore, oil and gas, shipping, military and cruise industries. The company is an authorised representative and service partner for a wide variety of maritime and offshore equipment producers.

Marine safety equipment leader VIKING Life-Saving Equipment will appear in force at Nor-Shipping 2015, displaying both innovative products and services that are proving popular with shipowners around the world. Few innovations in the safety equipment servicing arena have caught on as strongly as VIKING’s Shipowner Agreements. Based on the concept of fixed prices and centralized, single-source servicing for multi-brand safety equipment, these agreements have been rapidly adopted by forward-thinking shipowners across the globe. VIKING’s stand at Nor-Shipping will be manned by experts ready to discuss the options available and explain the popularity of this type of servicing contract.

For the 2014 financial year, VIKING Life-Saving Equipment A/S has again managed to lift both its top and bottom line to record levels. Turnover grew 7 percent to DKK 1.728 billion, and pre-tax profits reached DKK 183.7 million – an increase of 30 percent. “The market continues to embrace the new products we’ve introduced in recent years, and our growth is broadly distributed across geographies” says VIKING’s CEO, Henrik Uhd Christensen. “But we’re operating in a global market that is still under pressure in passenger and cargo shipping, marked by low newbuilding activity, over-capacity and ship decommissioning. Again, the offshore market has achieved higher growth rates during 2014 than other segments, but its growth is decelerating.

Marine and fire safety equipment leader VIKING Life-Saving Equipment (VIKING) and MOL Techno-Trade Ltd. (MOLTECH) have entered a strategic alliance and sole agency agreement, establishing MOLTECH as the exclusive agent for VIKING in Japan. MOLTECH will be offering the full range of VIKING’s safety solutions including the industry leading Shipowner Agreements (SOA) - agreements that combine global product availability and servicing with financing in fixed price structures and the convenience of VIKING’s management of the service schedules. The Shipowner Agreements are planned and monitored from a single point of contact and were an industry game-changer, when first introduced back in 2009.

The new, transparent multi-year service agreement concept from Viking revolutionizes the way offshore owners and operators solve the difficulties of managing multiple brands, equipment types and regulatory approvals for safety equipment and servicing. Handling safety equipment servicing is often regarded as a time-consuming and hard-to-budget headache for offshore vessel and infrastructure owners and operators. In fact, the range of products and servicing agreements can be a minefield of hidden costs and complexities even for the most experienced of safety managers.

Viking Life-Saving Equipment said it will take advantage of Nor-Shipping 2013 to help shipowners make safety equipment and servicing a smooth and problem-free experience. Having revolutionized the safety equipment servicing world with far-reaching, customizable agreements that have reduced unpredictable, fluctuating costs, Viking is now focusing its attention on further fine-tuning its workflows and providing even faster response times fromservicing under the company’s highly popular Shipowner Agreements.

Marine and fire safety equipment manufacturer and service provider Viking Life-saving Equipment A/S has reported its ninth year of growth – capturing market share from competitors in a difficult business climate and delivering record turnover of DKK 1,584 billion and PBT of 115 million DKK. According to CEO Henrik Uhd Christensen, the company’s results are due to Viking’s investments in long term growth, which are proving their worth in a worldwide market that has virtually stagnated during 2012.

VIKING achieves an eight year track record of constant growth. Global success in the crucial offshore market and around-the-world export growth are behind yet another solid financial report from fast-expanding VIKING Life-Saving Equipment, which joins a long list of Danish exporters that are defying today’s economic difficulties. ANNUAL ACCOUNTS: In 2011, VIKING Life-Saving Equipment A/S, global manufacturer of safety equipment for the maritime, offshore and fire industries, continued its seemingly unstoppable and increasingly global expansion…

In 2010, VIKING Life-Saving Equipment, global manufacturer of safety equipment for the maritime, offshore and fire industries, once again generated growth in both its top and bottom lines. Despite difficult market conditions, VIKING Life-Saving Equipment secured a slice of the emerging  upturn of the world market in 2010: the Group succeeded in achieving a record turnover of well over DKK 1,250 million, representing a growth of approximately 11% on 2009. Last year's strategic focus areas – to increase the product range and expand the service solutions – thus had the intended effect…

Viking Life-Saving Equipment and E.R. Schiffahrt have teamed up to design a fully customized, global servicing arrangement based on Viking’s Shipowner Agreements. The contract covers liferafts, lifeboats, immersion suits, lifejackets and marine fire systems and equipment such as fire extinguishers on more than 30 vessels of the shipowner’s fleet. The plan is for Viking to manage not just service notifications, but also the coordination of all servicing. While lifeboats and marine fire equipment will be covered under a fixed-price servicing arrangement, E.R.