Wärtsilä plans structural changes to streamline marine offering

(Posted on 20/02/23)

Wärtsilä plans to further focus on end-to-end voyage optimisation and to move part of Voyage business activities to Portfolio Business

Following the announcement in October 2022, Wärtsilä has integrated the Voyage business into Wärtsilä Marine Power since the beginning of 2023 to strengthen its lifecycle offering and to accelerate the turnaround of Voyage business. Based on the now-completed Voyage strategy review, the Voyage offering is planned to be streamlined focusing on fleet and port optimisation and related simulation and training services. The planned business unit in formation, Voyage Services, will secure a strong strategic fit with Wärtsilä Marine Power.

A strengthened port-to-port voyage optimisation can further lower costs and reduce emissions in marine operations. Customers can benefit from Wärtsilä Marine Power’s unique set of capabilities to optimise vessel operations with port and traffic management and performance-based services for port-to-port operations.

According to the plan, NACOS Navigation, NACOS Automation, Dynamic Positioning and sensors would be merged into a new business unit and moved to Wärtsilä Portfolio Business during April 2023. Wärtsilä Portfolio Business consists of business units, which are run independently with the aim of accelerating performance improvement and unlocking value through divestments or other strategic alternatives. Business continuity will be ensured, and current customer commitments will not be impacted.

“We are committed to drive decarbonisation in the maritime industry and accelerate the turnaround of our former Voyage business. By combining digital capabilities with performance-based services, we plan to unlock synergies and offer our customers unique end-to-end solutions to optimise their vessel and port operations. The planned integration of these specific voyage offerings to our existing Marine Power portfolio will provide customers the strongest decarbonisation offering available,” says Roger Holm, President of Wärtsilä Marine Power.

Wärtsilä has initiated a formal process globally with a plan to reduce maximum of 300 positions in the current Voyage organisation, while at the same time opening approximately 150 new positions.

The business unit Marine Electrical Systems, currently part of the Marine Systems business, is planned to be moved to Portfolio Business

In addition to the strategy review of Voyage, Wärtsilä has continued to review the strategic fit of other business units in Wärtsilä. As an outcome, Marine Electrical Systems, focusing on electrical integration, is planned to be moved to Portfolio Business during April 2023.

“Marine Electrical Systems largely serves different markets and customers than the rest of Wärtsilä and has limited strategic fit with the rest of the group. Therefore, we believe that an independent set-up and potential new ownership will be the best way forward for Marine Electrical Systems to develop and create shareholder value. Business continuity will be ensured, and current customer commitments will not be impacted,” says Tamara de Gruyter, EVP of Marine Systems and Portfolio Business.

Latest News

OceanScore: Data-driven decisions should define FuelEU compliance strategy

Ship managers must navigate tricky commercial terrain to mitigate their financial exposure as DOC holder... Read more

Inmarsat and Maritime London establish SEA-CARE working group

Inmarsat Maritime, a Viasat company, supported by Maritime London, have established SEA-CARE as a new... Read more

Chowgule partners with LR to develop first-ever ESG report and strategy

Chowgule & Co., a leading shipbuilding and engineering conglomerate in India, is partnering with... Read more

Martin Engineering opens new business unit in Kazakhstan

A world leader in bulk handling solutions, Martin Engineering, has announced fresh expansion in Central... Read more

Zelim appoints USCG SAR expert for North American expansion

Edinburgh-headquartered maritime safety innovator Zelim has appointed a former Commander of the United... Read more

Telestack secures prestigious Mibau Stema aggregates handling contract

Telestack has announced a significant new contract with Mibau Stema, secured in collaboration with long... Read more

Deployment of Starlink/VSAT Hybrid connectivity on 58 Vroon vessels completed

KVH Industries, Inc. has announced that, together with international shipping leader Vroon, they have... Read more

Damen advances sustainable dockings with shore power from Elma Systems

Damen Shiprepair Oranjewerf is giving a green boost to ship repair, maintenance, conversion and refit... Read more

Superior’s TeleStacker Conveyor automation gets major upgrade

Superior Industries, Inc., a US-based manufacturer and global supplier of bulk material processing and... Read more

Superior opens new manufacturing facility in Minnesota

Superior Industries, Inc., a US-based manufacturer and global supplier of bulk material processing and... Read more