Following DP World’s acquisition of Topaz Energy and Marine it is merging the company with P&O Maritime under a new brand P&O Maritime Logistics.
The new merged company will focus on three segments – offshore, port services and logistics. It will be headed by René Kofod-Olsen, former ceo of Topaz Energy and Marine.
Sultan Ahmed Bin Sulayem, chairman and ceo of DP World, commented: “By bringing together the expertise of two great DP World companies, we will be strengthening the overall P&O brand which brings with it a legacy of more than 180 years of maritime history. We look forward to seeing the company develop through its next phase of growth under René’s leadership, delivering the craftsmanship its customers have rightfully come to expect.”
René Kofod-Olsen, Chief Executive Officer, said: “Customers now want a handful of select, trusted, suppliers who can provide much more than one single service. P&O Maritime Logistics is strategically positioned to provide a wide portfolio of services to our customers, be it within one segment such as offshore or port services, or an integrated logistics offering with a combination of services.”
The coming year is likely to remain tough for the business and he commented, “As the offshore industry remains in a state of anticipated recovery, with 2020 likely going to be another challenging year.”
DP World acquired Topaz Energy and Marine for $1.08bn at the start of July this year in a move to expand its footprint in offshore marine sector.
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