Thursday, July 18, 2024

‘Company’s Focus on Continued Growth’

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Svitzer’s Strategic Decarbonisation Plans Underway

Svitzer, a leading maritime company, is making strides in reducing greenhouse gas emissions through innovative decarbonisation strategies. With a focus on efficient hulls and the use of alternative fuels such as hydrogenated vegetable oil (HVO) biofuel, new tugs in Svitzer’s fleet are paving the way for a more sustainable future.

According to Svitzer’s CEO, Mr. Nilaus, the decarbonisation strategy comprises three key pillars. These include optimizing the behavior of tug crews using digital tools like Port Manager, investing in equipment like the Schottel Sydrive system for fuel savings, and exploring alternative fuel options such as methanol and batteries.

The company’s commitment to sustainability is also evident in its Ecotow offering, where 40-50 tugs in the UK fleet operate on HVO biofuel, significantly reducing emissions for both Svitzer and its customers. Additionally, Svitzer is exploring opportunities to expand its use of alternative fuels in the future.

In line with its growth strategy, Svitzer is focused on developing its employees and recruiting local crews in markets where its vessels operate. By providing leadership training and career development opportunities, the company aims to support its workforce and drive innovation in the industry.

While Svitzer specializes in LNG terminals and onshore operations, the company also plays a role in emergency response, salvage, and firefighting. By focusing on harbour towage and terminal assistance, Svitzer ensures high cash flow reliability and continued growth in these key business areas.

Looking ahead, Svitzer is committed to achieving significant reductions in carbon intensity by 2030 and becoming carbon net zero by 2040. With a solid performance in 2023, including a 24% reduction in CO2 emissions and a 6% growth in total revenues, Svitzer is on track to achieve its sustainability goals while delivering top-notch marine services worldwide.

As Mr. Nilaus states, “We aim to grow in line with the market, create value for shareholders, progress on the decarbonisation journey and increase customer satisfaction, employee engagement, and development.” Svitzer’s dedication to sustainability and success positions the company as a leader in the maritime industry.

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