Maersk Supply Service is to make around 130 redundant as it restructures its business to focus on offshore wind and offshore support vessels (OSVs).
Maersk Supply Service said it is reducing the geographical spread of its business to focus on positioning its fleet in the Atlantic Basin and the North Sea and will relocate two vessels from Australia after they finish their current contracts.
The company will no longer enter into new turn-key project solutions saying the balance between risk and reward of these projects does not meet financial expectations. It will, however, honour existing commitments and fulfil its project backlog.
As a result of the changes to its operations Maersk Supply Service will laying off 130 people over the next two years, with the exact timeframe depending on the consultation process in UK. The company currently has a presence in eight countries: Angola, Australia, Brazil, Canada, Mexico, Norway, Philippines, and UK.
A new management structure will be put in place that will see two senior executives Chief Operational Officer Mark Handin and Head of Integrated Solutions, Olivier Trouvé, leaving the company by the end of September.
With the focus on OSVs and offshore wind Jonas Munch Agerskov, currently Chief Commercial Officer, will take on the newly created role of Executive Vice President for Offshore Wind, and Michael Reimer Mortensen will join Maersk Supply Service as new Chief Commercial Officer responsible for the commercial side of the OSV business.
The restructuring follows the takeover of MSS by AP Moller Holding earlier this year.
Privately held AP Moller Holding completed its acquisition of MSS from publicly listed AP Moller-Maersk in May this year bringing in Christian Ingerslev, previously head of Maersk Tankers, to take the helm as CEO of MSS, and installing a new board of directors.
The new management is moving to refocus the business around OSVs, where the market is improving, and offshore wind, which is being driven by the acceleration of the energy transition.
“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,“ said CEO Ingerslev.
“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 cost 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.”
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