By the time you get this issue of WW World, most of us have celebrated the turn of the year. Let me therefor first take the opportunity to say Happy New Year!
In 2014, we delivered stable results, but challenging markets made it difficult to reach the required level of financial return. We implemented several organisational changes to gain momentum, but still have a potential to streamline and optimise our operations even more. This goes for all the business segments in the WW group.
Our three main pillars with WMS, WWASA and NorSea forecast rough seas ahead. A generally weak shipping market affects owners’ purchasing capabilities, affecting the demand for our maritime services and products. WWASA sees fundamental challenges in the car- and ro-ro industry. Our cargo and trade mix is not ideal, and we are not able to get the most out of our advanced fleet of vessels. NorSea faces a dropping oil price and cost cuts in the North Sea oil industry.
In addition to a challenging market, customers expect to pay less for more. The need to improve and optimise how we run our business is therefore evident. We need to improve how we work and re-think our offering and shape. We need to come up with new and innovative ways of delivering solutions to the consumer, ways that are cost-efficient. Simply put we need to work smarter. By having a low cost-base, being customer focused and have a good product offer we will be competitive.
We can all contribute. It comes down to how we do our daily work, what we define as value adding and how we all focus on costs staying as low as possible without sacrificing the quality and service given to our customers.
The markets will turn. When, is another question. In the meantime we need to prepare our mind-set and way of working to face different times, even difficult times. This can and will demand change. I am very confident we can do this together, and head into the future being as cost-efficient and attractive as possible. It is the only way forward.