Svanehøj’s patented DW fuel pump solution is one of the main growth drivers. The pump was introduced to the market in 2015 and will account for almost 30% of total orders in 2021.
CEO Søren Kringelholt Nielsen said the company’s fuel pump sales quadrupled on 2020, with new orders spread widely across sectors.
“We see a significant increase in orders of fuel pump systems for LNG-fuelled boxships, cruise ships and PCTC vessels. Furthermore, we have received a very large number of orders for LPG carriers, where we supply pump systems for both cargo and fuel,” said Kringelholt Nielsen.
During 2021, Svanehøj secured two significant orders from Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering for LNG fuel pump systems for 22 Ultra Large Container Vessels. And recently, Svanehøj signed an agreement with a Japanese FGSS supplier on fuel pumps for six LNG-fuelled Pure Care and Truck Carriers.
“We see clear indications that many of the ships to be built in the coming years will be built to run on LNG. Therefore, we expect further growth in this segment,” said Kringelholt Nielsen.
“At the same time, a market for new fuel types will emerge, driven by the large-scale investments in Power-to-X. We have already taken this into account with our fuel pump, which is fully compatible with e-fuels such as green ammonia and methanol. In this way, we address shipowners’ uncertainty with a future-proof pump solution. Regardless of the propellant,” said Kringelholt Nielsen.
Svanehøj has started 2022 with a new strategy and a target of doubling its turnover to DKK1 billion (US$152 million) by 2026. In addition to fuel pumps for LNG, LPG and future synthetic e-fuels, Svanehøj sees great potential in developing pump solutions for the infrastructure to be built around Power-to-X and carbon capture and storage (CCS).