Dkk News

Towage and marine services company Svitzer has published its 2023 annual report, showing that total revenue grew 6% to DKK 5,786 million driven by, among other things, a record number of harbour towage tug jobs of more than 150,000.Adjusted for foreign exchange impact, total revenue grew 9.5%. Operating profit (EBITDA) was up 4% to DKK 1,690 million, corresponding to an EBITDA margin of 29.2%. In the past five years, total revenue has on average grown by almost 6% annually with an average EBITDA margin of 30%.

It is sad and worrying that the Frigast committee now proposes to scrap the Danish International Ship Register (DIS) scheme, says Danske Rederier (Danish Shipowners). The organization therefore makes a clear call to the government not to implement the proposal, as it will have major negative consequences for Danish shipping.The so-called Frigast committee published its recommendations for changes to the existing business support schemes this week. Among other things, the committee…

Belgium-based offshore installation contractor Jan De Nul has signed the export cable contract with Ørsted for its 2.9 GW Hornsea 3 offshore wind farm in the U.K.Jan De Nul will be responsible for the seabed preparation, transport, installation and protection of 350 km of DC export cables connecting the wind farm to the U.K. electricity grid.For the installation and protection of the DC export cables, the company is going to deploy several vessels.Cable-laying vessels Isaac Newton and Connector will transport and install the cables…

DFDS has completed its acquisition of FRS Iberia/Maroc, a short-sea ferry company connecting Spain and Morocco via the Strait of Gibraltar.“We are excited to start the integration of FRS Iberia/Maroc and look forward to applying our joint capabilities to grow the business while continuing to provide reliable, efficient ferry services to both passengers and freight customers,” said Torben Carlsen, CEO of DFDS.Reporting preliminary revenue of DKK 1.0bn for 2023, FRS Iberia/Maroc has three routes operated by a total of 850 staff of which just over 400 are own employees.

Denmark-based marine pump maker Svanehøj said Wednesday it had secured an order to deliver electric cargo pumps for seven LNG-/LBG-fueled chemical & product tankers. The client is the joint venture-company FureBear.Swedish Furetank AB and Canadian Algoma Central Corporation have entered into a joint venture agreement to construct eight LNG/LBG-fueled ice class 1A chemical & product tankers (17,999 DTW) to trade in Northern Europe.The joint-venture company, FureBear, is now placing a significant order with the pump specialist Svanehøj…

Danish wind turbine installation company Cadeler is contemplating a private placement of shares to raise funds to pay for a portion of a planned order for a newbuild offshore wind foundation installation vessel (F-Class) vessel.The company, which owns two offshore wind turbine installation vessels, with another two (X-class) on order, said Wednesday it planned to raise between $70 – 90 million through the placement of new ordinary shares with a par value of DKK 1.00 in the company at an offer price of NOK 32.32 per share, through an accelerated bookbuilding process.

Danish marine pump specialist Svanehøj announced it secured a new order from Jiangsu New Yangzi Shipbuilding to deliver fuel pump systems for a series of 15 newbuild 7,000 TEU dual-fuel liquefied natural gas (LNG) container vessels.The total of 30 deepwell fuel pumps will be delivered from August 2022 to January 2024, Svanehøj said, noting the order ranks among its largest relating to LNG fuel to date.The deal marks the second time within the last year that this customer has chosen Svanehøj as the supplier of LNG fuel pump systems.

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.

Danish offshore cable supplier NKT has secured the high-voltage turnkey order for the Dogger Bank C, the third phase of what will be the world's largest offshore wind farm, in the UK.NKT had previously entered into a Preferred Supplier Agreement (PSA) as the main contractor for delivery and installation of high-voltage DC on- and offshore export cable systems for the Dogger Bank C.Now, the company has secured the contract award with the project owners Equinor (50%) and SSE Renewables (50%). The contract award is subject to Dogger Bank C reaching financial close in late 2021.

The Danish Coastal Authority has ordered a new survey ship from Tuco Marine – ProZero Workboats to replace the 34-year-old vessel Ekko from 2022.The new vessel, which will be used for surveying Danish waters and collecting coastal development data, is expected to cost approximately DKK 10 million ($1.6 million), including advanced measuring equipment.The vessel will be equipped with an A-frame for towed sensors as well as a multi-beam echo sounder that can measure the seabed with…

Danish international shipping and logistics firm DFDS is setting up a new freight ferry route between Ireland and France, "to facilitate trade between Ireland and continental Europe."From January 2, 2021, the new freight ferry route between Rosslare in Ireland and Dunkirk in Northern France will offer trucks and their drivers direct and paperless transport between EU countries, avoiding the paperwork hassle that Brexit may bring.The port of Dunkirk is a gateway to Ireland’s top export markets – France, Belgium, Germany, and Netherlands – and a host of secondary markets.

The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping on Tuesday announced its management team. to join CEO Bo Cerup-Simonsen in building an organization capable of facilitating the transition to a carbon free global shipping industry.Made possible by a DKK 400 million ($63.5 million) donation by the A.P. Møller Foundation, the Center was formed in June by a group of global shipping entities committing themselves to decarbonizing the maritime industry. The Center, which recently revealed its Board of Directors and a location at the heart of the Danish Shipping cluster in Copenhagen…

Danish offshore vessel specialist Maersk Supply Service and its compatriot offshore wind developer Ørsted have teamed up to test a prototype offshore charging buoy.The buoy will act as a safe mooring point and a charging station for vessels, potentially displacing a significant amount of marine fuel with "green" electricity. The prototype buoy has been developed by Maersk Supply Service while Ørsted is responsible for the buoy’s integration with the electrical grid at the offshore wind farm.

The Port of Aarhus and UZMAR Shipyard connected May 29 via video conference to finalize a contract for the construction of a new RAmparts 3000 series tugboat for delivery in summer 2021.Denmark's largest container port said it invested approximately 45 million DKK, or roughly $6.8 million, to acquire the newbuild, which will be far more eco-friendly, efficient and powerful than the vessel it will replace. The port cited strength, precision and environmental sustainability as key reasons behind its decision to replace the 40-year-old Hermes, which will be sold once its replacement arrives.

NKT, which produces cables and supplies the energy sector, has entered a Preferred Supplier Agreement (PSA) as the main contractor for delivery and installation of high-voltage DC on- and offshore export cable systems to the Doggerbank Creyke Beck A and B offshore wind farms.The project is being developed as a joint venture by Equinor (50%) and SSE (50%).Dogger Bank Wind Farms Creyke Beck A/B was notified today that it was successful in the UK allocation of Contracts for Difference (CfD), which is a key step towards a final order.Such confirmed order is now conditional upon final contract negotiations and that the project owners provide NKT a notice to proceed.

Danish group NKT A/S said it has signed the final contract with Energinet and National Grid for the supply of a cable system for the 1,400-MW Viking Link inter-connector between Denmark and the UK.As per the contract, NKT is to supply a cable system of approx. 150 km of 525 kV MI high-voltage DC onshore power cables for Viking Link inter-connector project, connecting the Danish and British power transmission grids.NKT and the project owners have now signed the final contract documents for the project. With this step, the award of the Viking Link cable solution to NKT is confirmed.As previously announced the order represents a contract value for NKT of approx. EUR 90m (approx. DKK 670m), corresponding to approx. EUR 75m in standard metal prices (approx.

The world's biggest container shipping company AP Moller-Maersk delivers a 17% increase in earnings before interest, tax, depreciation and amortization (EBITDA) to USD 1.4 bn in Q2 compared to the same quarter last year.Revenue grew slightly to USD 9.6bn, which is on par with last year, and the underlying profit increased to USD 134mln from USD 15mln in Q2 2018.“Q2 was a quarter of solid progress. EBITDA was up 17% and cash flow improved 86% year on year, driven by continued recovery in Ocean,” says Søren Skou, CEO of A.P. Moller – Maersk. On the back of the increases in volume and freight rates, Ocean EBITDA in Q2 increased 25% to USD 1.1bn.

Despite difficult markets Wrist Ship Supply was able to grow its business during 2018 and to consolidate its position as the world’s largest supplier of provisions and stores to ships and offshore locations, claimed the ship and offshore supplier of provisions and stores.Most shipping segments saw pressure on earnings, and the recovery in the oil and gas markets was limited during 2018. The customers’ demand for lower operating costs by strict budget control and shift towards lower priced goods continued.“As a trusted partner, we side with our customers in their pursuit of profitability, even more so in the present tough market conditions.

After two years of slightly declining revenue, VIKING Life-Saving Equipment A/S is seeing growth once more, said the global market leader in maritime and offshore safety.In 2018, VIKING acquired the Norwegian manufacturer of lifeboats Norsafe AS. Adjusting for the costs of integrating this business and the impact on revenue in the last quarter of the year, the results show growth in both revenue and earnings.“We were able to deliver growth in activities and earnings in the original VIKING business, and we expect that the picture will remain the same for both areas of business in 2019," says CEO Henrik Uhd Christensen.Norsafe’s lifeboat…

Danish roro ship operator DFDS secured a contract from Swedish paper producer Stora Enso to transport 700,000 tons of paper annually on a new route between Gothenburg, Sweden and Zeebrugge,BelgiumDFDS will acquire two freight ferries for the route, said the release. The new route will be operated by three freight ferries. Two freight ferries - Slingeborg and Schieborg - will be acquired from third party owners for DKK 270m.In addition, one freight ferry will be transferred from DFDS' existing route between Gothenburg and Ghent that currently deploys four freight ferries. The significant increase in departure frequency between Sweden and Belgium will enhance customer services and support the growth of our customers.The route is expected to begin operating mid June…

Danish shipping and logistics company DFDS has decided to invest in startup company Mash Energy ApS to develop a commercially viable biofuel.The Danish ro-ro giant said in a press note that MASH Energy ApS produces biofuel from agricultural waste, currently from the by-products of nut processing in Tanzania and India.The biofuel is CO2 neutral and can be used in ships. In addition, the residual product is an effective fertiliser and will also contribute to reduce the CO2 balance.Together with Mash Energy, the goal is to develop a commercially viable alternative to fossil fuels, including testing on a DFDS ferry."We are extremely pleased to add DFDS…

New calculations indicate that last year's trade agreement between the EU and Canada, the CETA agreement, has had a positive impact on trade between the continents and significantly increased exports from the EU to Canada. Shipping companies feel the effect of this.Last year's abolition of virtually all tariffs has improved the business climate between Canada and the EU and led to significantly increased EU-Atlantic exports to Canada. Canada is Denmark's 13th largest trading partner, and Denmark’s total export to Canada amounts to 7.5 billion DKK.Last week, European Commissioner for Trade, Cecilia Malmström met Canadian Minister of International Trade Diversification, James Gordon Carr in Montreal.

Global energy sector supplier NKT has confirmed turnkey order for Moray East offshore wind farm project."NKT has signed a Preferred Bidder Agreement (PBA) for delivery and installation of export cable systems to the prospective offshore wind farm project Moray East," said a press release from the company.NKT and the project developer, MOWEL, Moray East Offshore Windfarm Ltd, owned by EDP Renováveis S.A., ENGIE and Diamond Generating Europe Ltd., have signed the final binding agreement on the project. For NKT, it means that the order is confirmed.The Moray East project comprises manufacture of approx. 175 km of 220 kV AC offshore export cables, installation by the NKT Victoria cable-laying vessel and burial of the cables. The order represents a contract value for NKT of approx.