Our Maritime Transport reporting division

James Fisher's Maritime Transport businesses provide products, services and solutions to the global marine market.

2023 Divisional performance

Although revenue declined by 6% in 2023, to £157.2m, the Division was focused on profitability and underlying operating profit was up c.23% to £23.3m. 

Highlights included:

• Delivery of two new, dual-fuel vessels, the Sir John Fisher and Lady Maria Fisher
• Secured largest UK tankships contract renewal with Phillips 66
• Strong LNG STS demand globally coupled with strong demand for oil STS in Brazil

The Division continues to play a key role in the critical supply of energy and petrochemicals, alongside alternative fuels, including liquefied natural gas (LNG). This resulted in a strong performance during the year, with high utilisation levels across tankships, alongside a key contract extension with a major UK customer. As part of the Company’s fleet replacement programme, James Fisher took delivery of two new, dual-fuel vessels, which will underpin the Company’s ESG commitments. The STS business maintained its global market-leading position in STS transfers and performed well in the first half of the year, particularly in Brazil. There is continued opportunity to integrate the business further and identify synergies from which to grow the customer base.