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DP World creates new maritime entity with Topaz and P&O merger

Dec 17, 2019
3 min read
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DP World has set up a new marine solutions entity combining its recently acquired Topaz Energy and Marine with P&O Maritime that it has been merged with.

P&O Maritime Logistics (POML), the name of the merged companies under the DP World umbrella, plans to grow and build further scale and value for customers and shareholders alike.

POML will focus on three strategic segments – Offshore, Port Services and Logistics – delivering world-class capabilities across industries, with safety and the environment at the forefront.

 The company said its core focus will be the further optimisation of offshore logistics for energy companies and will be led by former Topaz Energy and Marine CEO, René Kofod-Olsen.

 Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World, said: “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: “Our industry is constantly changing and evolving. 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. Owing to the integration between the two companies, we will be able to offer it all and to deliver a difference which drives value for our customers, across all seven continents.”  

“As the offshore industry remains in a state of anticipated recovery, with 2020 likely going to be another challenging year, P&O Maritime Logistics gets to steward one of the most historic names in the maritime industry as it enters this new chapter. I’m both honoured and humbled to have been selected to lead that journey,” he added.  

René Kofod-Olsen has appointed an Executive Committee consisting of Martin Helweg, Chief Operating Officer; Robert Desai, Chief Commercial Officer; Prasad Narayan, Chief Financial Officer; and Latifa Mohammad, Chief Human Resources Officer to support him in managing the day-to-day operations of POML’s business.