Letter from the CEO:

Unlocking exciting new opportunities at Svanehøj

 

By Søren Kringelholt Nielsen, CEO, Svanehøj 

 

As we approach the end of an eventful 2024, we mark Svanehøj’s first year as part of ITT Inc. This transition has unlocked exciting new opportunities for us. Collaborating with the ITT’s headquarters in New York and our 10,000+ new colleagues worldwide has shown that we share the same values and ambitions, united by a dedication to industry excellence. I genuinely believe we have found a true match in ITT.

 

With ITT’s support and global reach, we are well-positioned to continue the development of Svanehøj as a global leader in manufacturing and servicing equipment for handling all types of liquefied gas. 

 

A year of significant achievements

With a continuously expanding fuel pump program, we are accelerating our contribution to the energy transition of shipping. This year, we reached the significant milestone of 1,000 fuel pumps sold. More than half of these pumps have been sold within the last three years, further driving the shift towards more environmentally friendly maritime transport.

 

Since introducing the Svanehøj Deepwell (DW) Fuel Pump for liquefied gas in 2016, we have equipped hundreds of vessels – including LPG and LNG carriers, cruise ships, PCTCs, container vessels, P&C tankers and bulk carriers – with our patented fuel pumps. While the majority have been LNG- or LPG-fueled, we are now also seeing an emerging interest in ammonia.

 

Earlier this year, we secured a contract to supply fuel pumps for a new series of 210,000 DWT ammonia dual-fuel bulk carriers. With over 2,000 ammonia-ready marine pumps in operation or on order, including nearly 100 fuel pumps, our proven track record and extensive experience with ammonia applications place us in a strong position to help accelerate the transition towards carbon-neutral fuels.

 

This year also marked the delivery of “Northern Pioneer”, the world’s first ship for commercial CO₂ transport and storage. As the cargo pump supplier for both Northern Pioneer and its three upcoming sister ships, we are proud to be part of this pioneering project, which will establish the world’s first open-source CO₂ transport and storage infrastructure.

 

Innovating for a better future

In recent years, we have invested significantly in new products for the energy transition, and 2024 was no exception. At SMM Hamburg, we unveiled our new fuel pump solution for ammonia, the “HP NH3 Fuel Pump”. It is the world’s first high-pressure centrifugal pump for ammonia fuel applications, designed to meet the maritime industry's demand for efficient, leak-free, critical components with long service lives.

 

Recognizing shipping's urgent need for innovation, Svanehøj is committed to directing at least 95% of all R&D investments into solutions and products that align with our mindset of "Powering a Better Future." At the recent ITT Awards, our newly developed “CS Fuel Pump” for LNG was honored as the overall winner in the “Innovation” category.  I am proud to receive this recognition from our colleagues, which highlights our focused product development efforts and, above all, the outstanding work of our R&D department.

 

A strong commitment to Svanehøj and our mission

The strong demand for Svanehøj's solutions and services has led to a continuous need to expand our workforce. In 2024, we welcomed more than 50 new colleagues in Denmark and over 20 in Singapore.

 

I am delighted to see both young talent and experienced professionals join Svanehøj, drawn to our supportive work environment and the opportunity to contribute to the green transition. This year, we also celebrated a 40-year work anniversary and three 25-year anniversaries – a clear reflection of the strong commitment to Svanehøj and our mission.

 

Looking ahead, I’m filled with optimism. Our new partnership with ITT will be a catalyst for even greater achievements. The expansion of Svanehøj continues, and I’m excited for what the future holds for us.

 

I wish all staff, customers, and business partners a Merry Christmas and a Happy New Year!