Thomas Wilhelmsen News

Norwegian offshore wind vessel owner Edda Wind has ordered two additional Commissioning Service Operation Vessels (CSOV), as it expects long-term growth for the renewable energy sector. The company is also set for an initial public offering, which is aimed at helping finance its growth.The company, owned by Wilhelmsen and Østensjø, and which owns and operates service vessels supporting the maintenance work conducted during the commissioning and operation of offshore wind farms…

Wilhelmsen, one of the world's largest shipping companies, has agreed to acquire a 25% stake in Østensjø Group’s growing offshore wind business Edda Wind.Wilhelmsen has also secured an option to buy another 25% before June 2021. Launched in 2018, Edda Wind owns and operates service vessels supporting the maintenance work conducted during the commissioning and operation of offshore wind farms.Commenting on the Edda Wind deal, Thomas Wilhelmsen, CEO of the Wilhelmsen group said: "The Wilhelmsen group’s strategy is very clear…

Kongsberg Maritime and Massterly (a Kongsberg Wilhelmsen joint venture) have signed contracts with the Norwegian grocery distributor ASKO to equip two new all-electric vessels with autonomous technology, and to manage their operations at sea.ASKO, which currently transports its cargo by more than 800 trucks daily, is investing heavily in environmentally friendly technologies such as electric and hydrogen-powered vehicles. At present, road transport is the single mode of transportation…

The Wilhelmsen group delivers a slight increase in top line in the second quarter, mainly supported by higher operating revenue in supply services. The positive underlying market trends are expected to continue. The total income for the second quarter was USD 222 million, up 5% from the first three months of 2018.“We note that the positive development in top line in the first quarter continues into the second. Maritime services deliver stable revenue, while supply services record improved income following a seasonal upswing and property sales gains in NorSea Group,” says Thomas Wilhelmsen, group CEO at Wilhelmsen.EBITDA was nil for the quarter.

A US District Court for the District of Columbia announced that it will grant the Federal Trade Commission’s (FTC) motion for an injunction to block Wilhelmsen’s acquisition of Drew Marine Technical Services.Consequently, Wilhelmsen and Drew have agreed to abandon the transaction.“We disagree with the views of the US competition authorities. This would have been an important strategic investment for our group, which we believe would have meant better services and better prices for our customer. We are therefore disappointed that we will not be able to bring the deal to a close,” says Thomas Wilhelmsen, group CEO in Wilhelmsen.Wilhelmsen and Drew have agreed on a termination fee of USD 20 million.

The road toward autonomy has taken a major step with the announcement that Wilhelmsen and Kongsberg are collectively taking the next step in autonomous shipping by offering a complete value chain for autonomous ships, from design and development, to control systems, logistics services and vessel operations. The new venture is dubbed "Massterly". What is Massterly? The Massterly plan is to have land-based control centers monitor and operate autonomous ships globally, tapping Kongsberg's tech solutions and Wilhelmsen's logistics and ship management operations.

With effect from 26 September 2017, Wilhelmsen increases its shareholding in NorSea Group from 40% to approximately 72%. NorSea Group provides supply bases and integrated logistics solutions to the offshore industry. Eidesvik Eiendomsinvest AS and Simon Møkster Eiendom AS will hold approximately 12% each, while management in NorSea Group controls the remaining 4%. Following the transaction, Wilhelmsen will buy a small portion of management controlled shares. The increased shareholding passed the Norwegian Competition Authorities 20 September 2017 and the transaction will take place 26 September. “We wish to have an exposure towards the energy market, primarily oil and gas, but also the offshore wind industry,” says Thomas Wilhelmsen, group CEO of Wilhelmsen.

The Wilhelmsen group has signed an agreement to acquire the technical solutions business from Drew Marine. “This acquisition offers a unique opportunity to enhance the scale and geographic reach of our marine products division,” said Wilhelmsen group CEO, Thomas Wilhelmsen. The acquired business will be brought into Wilhelmsen Ships Service. As part of the transaction, the business, people and competence in Drew Marine Technical Solutions will be transferred to Wilhelmsen. Approximately 400 Drew Marine employees will join Wilhelmsen Ships Service upon completion of the transaction.

Maersk is set to unveil the thinking behind its recent tie-ups with IBM and China’s Alibaba when the firm’s Chief Digital Officer, Ibrahim Gokcen, takes the stage at this year’s Nor-Shipping. The maritime event week, taking place across a series of venues in Oslo and Lillestrøm from May 30 to June 2, has confirmed Gokcen as the latest high-level speaker for a program of discussion that will analyze, and help plot, the future course of the maritime industry. Gokcen’s appearance at Nor-Shipping comes at a time when Maersk…

Globally renowned green energy champion Peggy Liu has been announced as the latest speaker for Nor-Shipping 2017. Liu, the Chairperson of Joint US-CHINA Collaboration on Clean Energy (JUCCCE), is set to join a growing list of key shipping figures at the leading global maritime event week. Together they will deliver fresh perspectives on the challenges, opportunities and future evolution of the industry worldwide. Liu is a well-known figure throughout the business, political and media landscapes.

The Wilhelmsen group hires Inge André Sandvik as head of digital solutions, starting January 2017. “Accelerating our digital transformation, Inge brings with him a unique combination of digital entrepreneurship, business curiosity and a large network within the digital eco-system,” says Thomas Wilhelmsen, group CEO. “We really look forward to lifting our digital competence with Inge’s innovative thinking and to ensure we focus our energy on transformation that will make our customers and us more efficient. “I am not sure I can claim maritime expertise, just because I am from Vesterålen, a coastal area in the northern part of Norway, but I am intrigued by Wilhelmsen’s vision – shaping the maritime industry…

Wilhelmsen and Wallenius have signed an agreement leading to a new ownership structure for their jointly owned investments in Wallenius Wilhelmsen Logistics, EUKOR Car Carriers and American Roll on Roll off Carrier. Signing the transaction agreement is an important milestone in the merger as announced in September,” says Jan Eyvin Wang, president and CEO of Wilh. Wilhelmsen ASA. “The final go ahead is pending approval from competition authorities and the respective entities’ shareholders.” Wilh. Wilhelmsen ASA will issue shares to Wallenius Lines in exchange for their shares of the currently joint investments. At the completion of the merger, Wilhelmsen and Wallenius will hold 37.8% and 48% of the new entity to be named Wallenius Wilhelmsen Logistics ASA.

* The Norwegian Wilhelmsen family sees no change in the planned ownership structure in Wilh. * The current plan is that Wilh. * "I don't think their plan is to sell shares (from the planned 40 percent). There has been no indication on that. We both have good long term systems and we want to the see the effects of this in the merger and to improve the constellation", chief executive officer Thomas Wilhelmsen in Wilh.

Wilhelmsen and Wallenius have signed a letter of intent to establish a new ownership structure for their jointly owned investments. The new entity, Wallenius Wilhelmsen Logistics ASA, will form a more efficient management structure and enable further synergies between the joint ventures. “The markets in which the jointly owned entities operate are going through rapid change and require a more agile and efficient business model. In addition to establishing a common owner and governance structure, the proposed merger is expected to enable synergies between USD 50-100 million by combining the assets and harvesting economies of scale, including more optimal tonnage planning…

Logistics group Wilh. Wilhelmsen Holding and its listed shipping arm, Wilh. Wilhelmsen ASA, presented an update to their strategy on Thursday. "We are very much correlated to world trade. We are a bet on the world economy. "We do see margin pressure and commoditisation in some parts of our portfolio. I don't think that is anything new in any business but we must be vigilant and dedicated to continuously adapt to the changes. "We're seeing a margin pressure that needs a little bit more proactivity from our side than earlier. "If we look at the contribution from the last five years, more of half of the contribution is coming from non-shipping related business.

“Shipping volumes increased in the fourth quarter. As expected, car volumes improved more than high and heavy volumes," stated Thomas Wilhelmsen, group WWH CEO. Operating profit for the fourth quarter of 2013 was USD 82 million (USD 96 million) based on a total income of USD 893 million (USD 903 million). The operating profit for the quarter was negatively impacted by an accrual related to a draft cease and desist order which the partly owned Wilh. Wilhelmsen ASA (WWASA) company Wallenius Wilhelmsen Logistics (WWL) received in January 2014 (WWASA’s accrued share is USD 16.5 million).

Reduced volumes of high and heavy cargo and seasonally lower demand for maritime services negatively affected Wilh. Wilhelmsen Holding ASA (WWH) total income and result in the third quarter of 2013. Current activity level for group entities is expected to continue. Operating profit for the third quarter of 2013 was USD 96 million (USD 260 million) based on a total income of USD 873 million (USD 1 075 million). Income and results for the third quarter of 2012 were positively impacted by a USD 134 million sales gain related to Wilh. Wilhelmsen ASA’s downward sale of shares in Hyundai Glovis.

Operating profit in the second quarter of 2013 was down compared with the second quarter of 2012 when the shipping industry was in less troubled circumstances. Operating profit for the second quarter totalled USD 106 million (USD 139 million) based on a total income of USD 903 million (USD 972 million). Compared with the previous quarter, the operating profit was up 37% while the revenue increased 4%. The figures were down 23% and 7% respectively, when comparing with a historically strong period in the shipping segment in the second quarter of 2012. “We have seen higher activity levels in our main business segments. The major driver is a 13% increase in volumes transported deep sea.

Wilh. Wilhelmsen Holding ASA (WWH) operating profit and total income declined quarter on quarter and year over year. The company attributes the decline in profits mainly as a consequence of continued drop in shipping volumes and a less favourable cargo mix, and in the second quarter, the group’s activity level is expected to be in line with the first quarter. Operating profit for the first quarter was USD 78 million (USD 106 million), down 27% compared with the same period last year and a decrease of 19% from the previous quarter. Total income ended at USD 864 million (USD 946 million), a reduction of 9% year over year and 4% quarter on quarter.

Growth in shipping earnings & rebound by maritime services segment lift operating profit in second quarter 2012. Operating profit for the second quarter was USD 139 million (USD 71 million), an increase of 94% compared with the second quarter of 2011 and up 31% from the first quarter of 2012. Total income amounted to USD 972 million (USD 836 million), representing an increase of 16% compared with the similar period last year and an increase of 3% from the first quarter of 2012. Profit after tax and minority interests ended at USD 64 million (18 million), a reduction of USD 5 million from the first quarter. “With continued increase in volumes combined with sound cargo and trade mix…

Wilh. NSG is the leading supplier of base services and integrated logistics systems to the Norwegian oil and gas industry. Through its fully and partly owned entities NSG operates ten strategically located supply bases along the coast of Norway, including NorSea (Stavanger), Stordbase (Stord), Coast Center Base (Bergen), Vestbase (Kristiansund), Helgelandsbase (Sandnessjøen) and Polarbase (Hammerfest). “The investment follows our previously announced strategy aiming at exploring new opportunities within the  energy-, offshore- and maritime industry, supplementing the activities of Wilh. Wilhelmsen ASA and Wilhelmsen Maritimes Services AS (WMS),” says Thomas Wilhelmsen, group CEO.

Wilh. Wilhelmsen Holding ASA  reports profit growth lifted by high total income and operating profit in the shipping segment. Operating profit amounted to USD 106 million for the first quarter of 2012, up 84% year over year from USD 58 million in the corresponding quarter of 2011. Total income increased 26% and ended at USD 946 million (USD 753 million). “With all time high revenue in the shipping segment, the group’s earnings improved considerably year over year. Despite a seasonally weaker quarter, we also recorded a positive development quarter on quarter,” says Thomas Wilhelmsen, group CEO of WWH. “Our shipping activities benefitted from favourable trade balance and a sound balance between auto and high and heavy volumes.

Wilh. Wilhelmsen Holding ASA's (WWH) topline lifted by continued increase in volumes transported deep sea. Underlying development in the group's activities is positive. The operating profit for WWH amounted to $1.4 million for the second quarter, up 23.8% from the first quarter. Total income came to $838.8 million, up 11.3% quarter-on-quarter. "The export out of Japan rebounded faster than expected after the earthquake. Despite reduced Japanese production in the beginning of the quarter, the group recorded a total volume increase of 8% quarter on quarter, supported by continued export out of Korea and high and heavy volumes," says Thomas Wilhelmsen, group CEO at WWH.