For Wilhelmsen, our path and long-term strategy remains unchanged, despite the obvious professional and personal challenges posed by the pandemic.
Indeed, our ambitions as a group, to continue to use new technologies to solve often age-old issues, and with the clear intention to increase our active involvement in renewables, have really come to the fore in this difficult year.
After a year like no other, TradeWinds asked 40 shipping industry stakeholders what they see for 2021 after a year beset by the coronavirus, and how the pandemic will shape shipping's future.
The progress of the HySHIP hydrogen vessel project and the €8m ($9.6m) grant from the European Union is the most recent and obvious example. Including 14 European partners, the new zero-emission ro‐ro vessel named Topeka will be operated by Wilhelmsen, carrying cargo and distributing liquid green hydrogen to hubs along the Norwegian coast.
Then there is the launch of our one-of-a-kind Smart Ropes vessel-mooring system and set-up of a unique 3D printing joint venture with Thyssenkrupp. The acquisition of 25% of Edda Wind, which owns and operates service vessels supporting the offshore wind industry is another. These examples clearly highlight the path ahead for us.
What challenges and opportunities are also ahead in the year to come?
There will of course be significant challenges ahead for all businesses and markets in 2021. The development of global GDP and how countries respond as we begin to see a potential end to this pandemic are critical. We are cautiously positive on this front, and the timetable of when our industry can get back to something even close to "normal".
Specifically for Wilhelmsen, the speed and scale of the rebound of cruise is going to be particularly important for many of our businesses, and especially our marine products and ships' agency divisions.
In addition to these pressing economic questions, I also believe the new year will continue to pose unchartered psychosocial challenges for all of us, as we once again readjust our daily routines, both personal and professional.
Across the entire Wilhelmsen group, we continue to benefit from the exceptional motivation, commitment and engagement of our staff. Whether it is our ship management and ships' agency divisions going the extra mile to make crew changes happen and maintain crew welfare, or our marine products team and supply chain network working flat out to make product deliveries against the odds.
But this dedication, I am sure, will have taken its toll. We are mindful of this and prepared to support our staff in any way we can through the transitions to a post-pandemic world. It is a much overused phrase, but our most important asset is our people.
