Maritime group Wilhelmsen will invest up to $500m in renewables as part of a pivot to supporting decarbonisation and the energy transition.
The group’s new strategy will accelerate the zero-carbon transition of its existing businesses while it shifts from oil and gas-supporting activities to those focussed on renewable energy, it said.
The new focus was detailed as the group announced its new structure, with three business sections, Maritime Services, New Energy and Strategic and Financial Investments.
New Energy will be headed up by Jan Eyvin Wang, current senior vice president for strategic investments. The section covers NorSeaGroup, service operation vessel operator Edda Wind, hydrogen-fuelled vessel project Topeka, autonomous shipping JV Massterly, digital accelerator RaaLabs, digital development company DoLittle, and 3D printing outfit Ivaldi.
“In the next few decades, we will see a tremendous shift from oil and gas to renewable energy,” said group CEO, Thomas Wilhelmsen. “We will obviously build on our existing competencies, in-depth knowledge of the maritime industry, and what differentiates us from many players in the market, while exploring new opportunities and new partnerships.”
Current Wilhelmsen Ships Service president, Bjørge Grimholt will head the maritime services segment, securing a place on the group management team. The maritime services segment will focus on growing the group’s marine products, ship agency and ship management businesses.
“The final segment – strategic and financial investments – includes shareholdings in Wallenius Wilhelmsen, Treasure ASA/Hyundai Glovis, Qube and the group’s liquidity portfolio,” the group said in a press release.
Source: Seatrade Maritime