Presentation

Wilhelmsen’s history dates back to 1861 and the company has since built the largest maritime network in the world with more than 2,200 locations worldwide. Wilhelmsen acts like a holding company which historically has been invested in companies in the maritime sector, but is increasingly shifting its focus to renewable energy, alternative fuel and technology industries. The company has a market capitalization of USD 600m and net debt of USD 370m as of Q2’20. The largest owner is the Wilhelmsen Family with 60.3% of the shares outstanding.

Wilhelmsen splits its business into three; Maritime services (Ship service and Ship management), Supply services (NorSea Group), and Holding and investments (Wallenius Wilhelmsen ASA and Treasury ASA). The company’s shift towards renewable energy sources was highlighted recently when it signed a MoU with South Korean company Hyundai Glovis to work together on developing new green fuels. The two companies will exchange competencies to improve existing technologies and look for new solutions within the global gas shipping markets, driven by their desire to develop hydrogen as a fuel for the future.