ShippingWatch

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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs