Singapore-based Hamworthy Pumps has had a flying start after a change of ownership and has increased its turnover by 60%. Sales of fire water pump packages (FWPPs) and scrubber pumps have increased significantly and have created new jobs.
For many years, the manufacturer of pump solutions for marine and offshore was part of Wartsila Pumps but was taken over by the venture capital firm Solix in the autumn of 2018. Since then, its revenue has grown by 60%.
‘Hamworthy Pumps is a recognised company which for years has had a somewhat anonymous existence under Wärtsilä Marine Solution. Now we are back on our own feet as an independent company, and we are finding that our brand, our rich history and our in-line pump solutions, are increasingly catching the eyes of customers in the marine and offshore industry,’ said Managing Director Mark Lawson.
Not least the FWPPs for offshore and pumps for scrubber installations have contributed to the growth of Hamworthy Pumps since their divestment from Wärtsilä. A stronger focus on the customer, including shorter lead times and a stronger setup for service, support and aftersales has attracted new customers. ‘We are easier to deal with. Transactions are less complex and decision making is swifter. We have simplified many processes and no longer experience orders being delayed due to protracted legal discussions,’ said Lawson.
The first year as an independent company after the Wärtsilä exit has been about rebuilding the organisation, re-establishing the brand and planning future investments in the product line and the Singapore plant. As part of an ambitious growth strategy, Hamworthy Pumps have created 26 new full-time positions across the organisation: in Sales, Human Resources, Engineering and Project Management.
After an excellent start to 2020 with a few good orders, Hamworthy Pumps are now beginning to feel the consequences of COVID-19. The subsequent crash of oil prices has prolonged the pay back on scrubbers, and the expected increase in demand following the introduction of the new, lower limit on sulphur in marine fuel has so far failed to materialise. ‘So the ‘watch and wait approach’ might last a bit longer than previously expected, and we will not see an increase in demand of scrubbers in Q2. However, we are in close dialogue with our customers, who expect the COVID-19 setback to be temporary. We are aiming for the scrubber market to pick up towards the end of Q2 or the middle of Q3, based on the expectation that the price spread between HFO and LSFO will return to the 150–200 range,’ said Lawson.