In Conversation With Nordic Maritime

Nordic Maritime celebrated its 10th anniversary with good company, good food and good cheer recently, having come a long way since its humble beginnings as ship manager. The company began life during the Asian Financial Crisis when CEO Morten Innhaug found himself torn between decisions – return to Norway or find a job in Singapore. And as fate would have it, Innhaug was offered the opportunity to take over the Singapore office he was tasked to set up for a Norwegian owner. The office at that time already had the people and procedures to perform ship management services but the challenge was to find business to cover the overhead costs. As the saying goes, every crisis breeds opportunity and in this one, the lifeline came when DMNG – a Russian geophysical company, awarded Nordic Maritime a ship management contract for one of its vessels. The rest, as they say, is history.

Today, in addition to operating 7 vessels for DMNG and other clients in the offshore market, Nordic Maritime is a shipowner with plans to diversify into the offshore construction and accommodation sector. It acquired its first survey/utility vessel, Emma in 2005 and is in the midst of constructing four accommodation field development vessels (“AFDVs”) at NGV Tech yard in Port Klang, Malaysia, specially designed to meet the increasing need for premium accommodation. Marine Money speaks to Chief Operating Officer Kjell Gauksheim and Chief Financial Officer Wayne Law this week to find out more about the strategies that Nordic Maritime has in place to ride through the next decade.

This is only an excerpt of In Conversation With Nordic Maritime

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