Svitzer's biggest market depends on three gas contracts

After taking huge impairments on its most important market, Svitzer's new CEO in Australia, Steffen Risager, has taken on the task of creating growth. Three contracts in particular will decide where the development goes. ShippingWatch has met Steffen Risager.

Several years of systematic work getting a handle on one of the two biggest business areas and single markets, the towage activities at the 25 ports in Australia, have been a burden on Maersk's Svitzer, which until recently was spearheaded by the Maersk heir Robert Mærsk Uggla.

The main driving force in Svitzer's Australian business will now rest for the next many years on three long-term contracts, each to last 20 years, on three of the world's largest, onshore natural gas projects in Australia: Chevron-headed Gorgon LNG, Wheatstone LNG, and Japanese Inpex. All three giant projects which are expected to have a widespread impact on the whole Australian economy.

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