Sustainable growth – the key to long term profitability

A couple of months ago, a sperm whale was found washed up on a beach in southern Spain. The giant mammal had 29 kilograms of plastic in its digestive system.

Scientists found trash bags, ropes, pieces of net and a drum in its stomach and intestines. We hear similar stories from all over the world. The photos tell a brutally honest story about human impact on the sensitive ecosystems that exist right beneath the keels of the global vessel fleet. The world’s oceans is the home of countless species. At the same time the sea is the shared workplace for all our seafarers. The maritime industry has a special responsibility to ensure that our activities are carried out in a responsible and sustainable way. OSM is prepared to roll up the sleeves and take on our share of the workload by aid of our key advantages: our competent people and our maritime expertise. In February we published our very first sustainability report as signatory participants with the UN Global Compact – the world’s largest corporate sustainability program. OSM further commits to being an asset in society, meaning that we will continue to support initiatives that sustain a greater good.

An important focus area for OSM Maritime Group in 2018 is sustainable growth. You may ask: Why do we need to keep focusing on growing – when will we be large enough? Well, in our industry growth isn’t necessarily all about increasing in size and improving last year’s bottom-line numbers. A solid and healthy financial situation is without a doubt important and a key prerequisite for delivering safe, efficient and reliable operations to our customers. However, to successfully master the wave of transition that washes over the maritime industry we need to look beyond the traditional perception of growth. Going forward, I believe that only companies able to achieve sustainable profitability over time will have the ability to grow their business, retain talent, and invest in future solutions. Technological competitiveness and the ability to profit on new opportunities and new revenue streams will characterize companies that stay in business. Our ability to adjust to new challenges, competencies and requirements when it comes to utilization of data and implementation of technologies such as AI, drones and machine learning will be paramount for doing business within the scope of the next generation of ship management.

Adapting to the surroundings and utilizing the best solutions out there is to me what lies in the concept of sustainable growth. We protect our core business while adding services that we know are on the rise. We embrace change and look for opportunities instead of challenges. And last, but not least: We care about our people because at the end of the day it’s people that enable growth and lead the way for a more sustainable future.

Our customers trust us with their most important and precious assets – their vessels. Their trust in us comes with great responsibility. OSM in 2018 is geared to deliver on our core business and at the same time explore new opportunities that will help us stay relevant for our people, our partners and our customers.

This issue of the OnBoard magazine is dedicated to this very important theme – sustainable growth. Enjoy the reading, and remember:

“We do not inherit the earth from our ancestors; we borrow it from our children. We owe it to them and to the coming generations clean waters and a safe environment.”

– Geir Sekkesaeter, Managing Director – Europe