Svanehøj wins major pump order for new Chinese MR tankers
A significant expansion of the setup in China is showing results. In just a few months, Svanehøj has landed two major P&C pump orders in China. Most recently a contract with GSI Shipyard on a total of 96 deepwell pumps for four new MR Tankers, according to the company's release.
Svanehøj has manufactured pump systems for P&C tankers for decades, but the segment is now becoming a significantly larger part of the business. The Danish specialist in deepwell pumps for marine and offshore has a target of increasing sales of P&C cargo pumps by 40% over the next three years and has just won its largest single P&C order since 2005.
The customer is Guangzhou Shipyard International Company Limited (GSI), which is to build four 49,900 DWT MR Tankers for White Whale Shipping. A few months ago, Svanehøj was chosen by Cosco Dalian Shipyard as the pump supplier for two similar P&C tankers. According to Sales Director Johnny Houmann, the two orders are won as a result of Svanehøj’s strengthened presence in China. In 2020, the company expanded its Chinese organisation from three to 15 employees with competencies in sourcing, sales and service.
Although the global construction of new ships is at its lowest level for several years, Svanehøj is showing strong growth. The company has just released its 2020 annual report with a revenue of USD 62 million against USD 46 million in 2019. Profit has increased from USD 2 million to USD 9 million before tax.
Sales of Svanehøjs patented DW Fuel Pump for liquified gas has tripled in 2020, and expectations are for significant growth to continue in coming years.
In December 2020, Svanehøj doubled the size of its service department through the acquisition of the Danish company FORCE Technology Marine Equipment Service.
Svanehøj has thus become a full-scope cargo system service provider, with competencies in servicing and calibrating pumps, compressors, valves and instrumentation. The new service setup has already secured framework agreements with several major customers.
About Svanehøj Danmark A/S
Svanehøj designs and manufactures specialised deep well pump solutions for vital applications within the areas of gas pumps, fuel pumps, products and chemicals and offshore products. Svanehøj is also a leading service provider of inspections, service and calibration of cargo equipment on gas, product and chemical carriers. Svanehøj is part of Svanehøj Group which employs 300 people in Denmark, Singapore, Japan, China and the UK. The Group manufactures the brands Svanehøj (Denmark), Hamworthy Pumps (Singapore), Eureka and Dolphin (UK).