As the offshore market continues to rapidly increase, so does the need for support vessels and modernised infrastructure. Maersk Supply Service has announced its response to this trend with a change in focus to building on these two business areas. The company can benefit from a young and energy efficient fleet, experienced crew as well as its unique and innovative concept for offshore wind turbine installation.
“We will build scale in the markets we operate to become more competitive. To do this we will focus on the most attractive future markets with the best fit for Maersk Supply Service. Building on our current strong position, we will create value for our customers and together secure energy supply and support the energy transition.
Within offshore wind, governments are setting ever higher offshore wind targets. Developers are moving quickly to secure ports, turbines and vessels to support these goals, while at the same time vigilantly keeping costs down. We have a unique and innovative design for offshore wind turbine installation that has the potential to revolutionise the way offshore wind farms are installed and help meet offshore wind targets faster. Our ambition is to play an active role in growing and accelerating the energy transition.“
Christian Ingerslev, CEO of Maersk Supply Service.
The concentrated portfolio will impact current business areas and geographical position. While it will continue to support towing, mooring and installation of offshore assets on a time-chartering basis, Maersk Supply Service will no longer enter new turn-key solutions projects. The balance between risk and reward in solutions projects has not currently met the financial expectations and Maersk Supply Service lacks the scale needed to mitigate risks and gain synergies. The company will honour its commitments and execute the project backlog.
To help with this transition, Maersk Supply Service will pinpoint its geographical footprint and position its fleet around the North Sea and Atlantic Basin. As a result the two vessels currently based in Australia will be relocated. Another result of the reconstruction is that the organisation with downsize by approximately 130 people over the next two years, depending on the consultation process in the UK. The management team will also be restructured to support these two core business areas.
“Maersk Supply Service has been on a transformational journey since 2016 to explore new business opportunities after the downturn in the OSV market. The company has added many different areas to its business, all relevant at the time. Now it is time to select the areas with the highest potential for Maersk Supply Service. The organisation has built up valuable knowledge along this journey, and I would like to give my sincere thank you for huge effort and commitment to all that has taken part of this journey and especially to the colleagues that we now have to say goodbye to.”
Christian Ingerslev, CEO.
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