Denmark’s Svanehoj has big LNG plans after new acquisition

Danish gas pump specialist Svanehoj has purchased tank control systems business from Finland’s Wartsila, expanding the firm’s OEM activities and adding new skills to its growing service department for gas tankers.

The acquisition of Wartsila TCS, historically known as Whessoe, brings Svanehoj “unique skills in the production, sale, and service of high-end measurement systems for gas tanks on LNG ships and land-based LNG facilities,” the firm said in a statement.

The TCS business became part of Wartsila as a result of the acquisition of Total Automation in 2006 and has about 50 employees based in the UK, France and Singapore with a revenue of 7.5 million euros ($8.8 million) in 2020.

“The acquisition of Wartsila TCS is an expression of our desire to make Svanehoj a globally leading specialist in producing and servicing equipment for handling all types of liquefied gas – natural gas, biogas and not least the Power-to-X-based fuel of the future”, said CEO of Svanehoj, Soren Kringelholt Nielsen.

Access to large LNG carrier fleet

Svanehoj is already a “leading” provider of cargo system service for LPG vessels, and the intention is to use the acquisition to achieve a similar position within the larger LNG ship segment, according to the statement.

“With this acquisition, Svanehoj will now be the preferred service provider for about 500 LNG vessels with tank measurement systems from Wartsila TCS,” said Morten Christian Larsen, director, service and aftersales.

Furthermore, Christian will lead the service department with more than 70 employees and activities in Denmark, UK, China, and Singapore.

Also, with an expected increase in activity of initially 30-40 percent, the plan is to employ additional staff to support the offices in Denmark and Singapore, the statement said.

New French division

Following the acquisition, Svanehoj said it would establish a new independent business for land-based activities in Calais, France.

Wartsila TCS currently produces measurement systems for land-based LNG systems in Calais.

Subject to closing conditions, Svanehoj and Wartsila expect to finalize the transaction by the end of this year.

Most Popular

Venture Global’s Plaquemines LNG terminal achieves first production

Venture Global announced on Friday it had reached first LNG production at the company’s second facility, Plaquemines LNG, in...

Spot LNG rates remain weak

“Spark30S rates rose for a fourth consecutive week, increasing marginally by $750 to $23,500 per day,” Qasim Afghan, Spark’s commercial...

Swan Energy, Nebula’s AG&P LNG plan Indian JV

Swan Energy said on Friday it had signed a heads of agreement with AG&P Terminals &Logistics (Singapore). The two firms...

More News Like This

Wartsila to support GasLog’s LNG carrier quintet

A unit of Finland’s Wartsila has signed a deal with Greek shipowner GasLog to support the latter’s five liquefied...

Wartsila wins contract for Gasum’s bio-LNG plant in Sweden

Finland’s tech firm Wartsila said it will supply equipment for Gasum’s new bio-LNG production plant in Sweden. Wartsila booked the...

Wartsila, Capital Gas ink LNG carrier maintenance deal

According to Wartsila, the five-year deal was booked in the third quarter of this year. Warstila did not provide the...

Excelerate’s FSRU to get Wartsila reliquefaction system

Exclerate said in a statement on Thursday it has entered into an agreement with Wartsila Gas Solutions, part of...