Maersk Supply Service, a prominent player in maritime services, is set to undergo a transformational shift that involves job cuts and a strategic focus on offshore wind and offshore support vessels (OSVs). The move is expected to enhance profitability and synergies by narrowing down its operations to these key areas.
Around 130 jobs will be phased out over the next two years as Maersk Supply Service concentrates its efforts on fewer business sectors and geographical regions. The company’s CEO, Christian Ingerslev, emphasizes that this realignment will foster competitiveness by building scale in its target markets. By capitalizing on its strengths and expertise, the company aims to create value for customers and contribute to the energy transition.
The decision aligns with the evolving energy landscape and the acceleration of the energy transition. The offshore vessel market is showing signs of improvement, and governments are setting ambitious offshore wind targets. In response, Maersk Supply Service plans to expand its involvement in offshore wind turbine installation and subsea services, leveraging its advanced fleet, skilled workforce, and innovative approaches.
Ingerslev highlights the significance of their innovative offshore wind turbine installation design, which could potentially revolutionize the installation of offshore wind farms. The company aims to play a pivotal role in driving the growth of renewable energy through active participation in the energy transition.
As part of this strategic shift, Maersk Supply Service will discontinue new turn-key solutions projects due to unfavorable risk-reward ratios and a lack of necessary scale to mitigate risks. However, the company remains committed to supporting offshore asset towing, mooring, and installation on a time-chartering basis, fulfilling its existing project backlog.
The transition also entails a geographical focus realignment. The company plans to relocate two vessels from Australia to bolster its presence in the Atlantic Basin and North Sea, aligning with its refined strategy.
This comprehensive strategy change involves restructuring the management team to center around the two core business areas: offshore wind and OSVs. Key leadership roles will be filled by Jonas Munch Agerskov as the Executive Vice President for Offshore Wind and Michael Reimer Mortensen as the new Chief Commercial Officer for the OSV business.
Christian Ingerslev acknowledges the transformative journey the company has undertaken since 2016, exploring diverse business opportunities. With this strategic shift, the company is poised to capitalize on the most promising sectors and extend gratitude to those who have contributed to its evolution.
The divestment of Maersk Supply Services to A.P. Moller Holding, owned by the A.P. Moller Foundation, marks the culmination of A.P. Moller–Maersk’s strategic restructuring initiated in 2016. This move aligns with Maersk’s focus on transportation and integrated logistics, with energy-related businesses divested between 2017 and 2019.
