Mr Torsten Holst Pedersen, Chief Operating Officer, Seaspan Ship Management Ltd entry into shipping was serendipitous, driven by a job opportunity in Denmark with a major conglomerate. Despite his background in economics and international finance, he found himself drawn to the industry’s global nature and diverse challenges.
Mr Pedersen encourages young professionals to consider shipping, emphasizing that curiosity and interest can lead to growth and learning opportunities. He believes in treating people with respect, being open to different cultures, and maintaining transparency in communication. With the right mindset, individuals can thrive in the industry, even without prior knowledge or experience.
Outside of work, Mr Pedersen enjoys golf, fitness, and travel, showcasing a well-rounded personality.
In a candid conversation with Miss Delphine Estibeiro of Marex Media, Mr Pedersen offers insights into his remarkable journey and perspectives on the shipping industry.
Staying Ahead in Maritime Innovation
Our business model is built on a foundation of expertise and innovation. As a leading player in the container shipping and car carrier markets, we own and operate vessels, chartering them out to shipping lines. To succeed, we must not only build and operate ships efficiently but also stay ahead of the curve in knowledge and technology. Our value proposition lies in our ability to leverage expertise in areas like decarbonization, IT, and safety. We achieve this through:
- Building and operating vessels that meet or exceed customer expectations
- Staying at the forefront of industry knowledge and trends
- Collaborating with internal and external partners to drive innovation
To maintain our competitive edge, we prioritize curiosity, hard work, and collaboration. By constantly learning and adapting, we ensure our customers receive the best possible service over the long term, typically 10-15 year contracts. This approach enables us to add value through knowledge and expertise, setting us apart in the industry.
Sustainable Cost Reduction and Efficiency
We’re committed to reducing costs sustainably, recognizing that slashing expenses at the expense of customer operations isn’t viable. Instead, we’ve long prioritized energy efficiency in our ships, minimizing fuel consumption and environmental impact. This focus benefits our customers and drives down our operating costs. Our strategies include:
- Energy Efficiency: Optimizing fuel consumption reduces costs and environmental impact
- Scale and Collaboration: Joint ventures and partnerships with vendors secure better pricing and terms
- Innovative Culture: Our “ownership” corporate value empowers our employees to identify areas for continuous improvement and drives cost savings
By constantly seeking opportunities for improvement, we’re well-positioned for long-term success.
Focus on Progress, Not Promises
We’re driven by tangible progress.. Rather than making grand promises for 2050, we focus on consistent improvement, year by year. Our approach prioritizes compliance with regulations and delivering value to customers through expertise and innovation.
We collaborate with customers to explore decarbonization strategies, leveraging our knowledge of various fuels and their pros and cons. As a trusted partner, we engage in discussions around shipbuilding and operations, tailoring our approach to meet customer needs.
Our goal is to provide value through expertise, whether customers choose to build ships themselves or partner with us. By focusing on short-term progress and delivering tangible results, we build strong partnerships and drive sustainable growth.
Navigating Emerging Technologies in Shipping
While autonomous commercial vessels may still be years away due to safety and technical challenges, we’re exploring their potential through two key lenses:
- Enhancing Safety and Efficiency: We’re leveraging emerging technologies to improve ship operations, focusing on safety, cost, and reliability. Examples include navigational systems with thermal cameras for dense fog or congested waters.
- Selective Implementation: We carefully evaluate new solutions to ensure they simplify, rather than complicate, daily work. Our approach is disciplined, prioritizing business benefits and addressing specific problems or opportunities.
We prioritize targeted, small-scale investments with clear purposes, focusing on:
- Business Needs: Serving customer value propositions, efficiencies, or streamlining operations
- Problem-Solving: Addressing specific challenges or opportunities
- Strategic Growth: Exploring new ideas and avenues with a clear purpose
This approach enables us to harness innovation while maintaining a focus on practical, business-driven solutions.
Innovation at the Core
Innovation isn’t an add-on; it’s integral to our operations. To serve our customers better, we stay at the forefront of technology and expertise. Our diverse team, including naval architects, data scientists, and engineers, continuously explores advancements in:
- Digital technologies
- Fuel technologies
- Vessel design
- New procedures and methodologies
This approach enables us to deliver value to our customers through improved solutions and services, driving our daily business forward.
Adapting to Global Trade Dynamics
The container shipping industry serves as a microcosm of the global economy, underpinning international trade. While external factors are beyond our control, our focus lies in adapting to changes and supporting customers through:
- Agility: Responding to short-term shifts while investing in long-term growth
- Adaptability: Navigating the complexities of global trade and emerging trends
- Strategic Investment: Balancing immediate needs with long-term vision, recognizing the enduring nature of shipbuilding and operations
By embracing these strengths, we help customers thrive amidst global economic fluctuations.
Thriving in the Shipping Industry
The shipping industry offers exciting opportunities for those who are curious and adaptable. With a diverse range of roles, from finance and engineering to IT and naval architecture, it’s a field that values:
- Curiosity: Embracing change and exploring new interests
- Global Mindset: Working collaboratively with people from diverse backgrounds and cultures
- Drive: Proactively seeking solutions and innovating
These behavioural traits are essential for success in shipping, where global connections and constant evolution demand flexibility and a willingness to learn.
Marex Media
The Human Side of Shipping
Originally from England, Mr Stefan Hockley, Chief Human Resources Officer, Seaspan Ship Management Ltd grew up in the southwest of that country and there developed his passion for cricket. He pursued a degree in economics from the University of Lancaster and later worked in talent acquisition and recruitment in London’s technology sector. After moving to Canada in 2000, Mr Hockley has spent the past 25 years in Vancouver, adopting a Canadian accent while working with various technology companies. With a background in biotechnology, clean energy, and high-tech products, Mr Hockley brings a unique perspective to the shipping industry, where he has been working with Seaspan for two and a half years.
Mr Hockley’s career has been marked by a philosophy of aligning people solutions with business needs, which he believes can be applied to most industries. Outside of work, he enjoys sports, particularly cricket, and plays for an over-40s team in Vancouver. Mr Hockley also appreciates travel and meeting people from diverse cultures, having had the opportunity to combine these interests with his career.
In a wide-ranging conversation with Marex Media’s Delphine Estibeiro, Mr Hockley opens up about his career journey and shares valuable insights.
Adapting to Industry Evolution
The shipping industry is undergoing a significant transformation, and Seaspan recognizes the need to build capabilities to meet emerging trends. To stay ahead, the company is focusing on acquiring new skill sets and developing its people.
Key trends driving this effort include the adoption of technology, such as hiring data scientists to extract insights from vessel data, and the shift towards alternative fuels, which requires developing skills and training for new engine types and sustainable operations. By prioritizing skill development and training, Seaspan aims to enhance the capabilities of both seafarers and shore-based staff, ultimately driving business success in a rapidly evolving industry.
Attracting Talent in a Competitive Market
Seaspan’s approach to talent acquisition involves a dual focus on finding the right talent pools and presenting a compelling story. The company is expanding its shore-based presence in key markets like Mumbai, which offers a rich pool of skilled professionals. By showcasing its unique culture, highlighting career opportunities, demonstrating the strength and longevity of its business, and its values Seaspan aims to differentiate itself from competitors and appeal to top talent. By combining strategic talent sourcing with a strong employer brand, Seaspan strives to attract the best professionals to support its growing business needs.
Prioritizing People Development
Seaspan’s leadership emphasizes two crucial aspects of human resources: performance management, succession planning and development. These priorities are driven from the top, with the board providing strong support and setting clear expectations.
Succession planning is a core program that Seaspan systemizes and continuously works on, using tools and processes to identify and manage risk, develop growth plans for employees, and execute them in a systematic way. By prioritizing people development, Seaspan aims to build a robust and sustainable organization with a strong talent pipeline.
Fostering an Inclusive Workplace
Seaspan prioritizes creating an inclusive workplace where employees are recognized, promoted, and rewarded based on merit. As part of an inclusive workplace group, leaders and employees collaborate to foster a merit-based culture, remove barriers, and educate staff to promote a fair and equitable environment.
While acknowledging that no organization is perfect, Seaspan is committed to continuously improving and refining its systems to ensure equal opportunities for all employees, striving towards a truly meritocratic workplace.
HR Systems and Processes
Seaspan utilizes different systems to manage its shore-based and seafaring personnel due to distinct operational needs. For its 400 shore-based employees, the company employs automated systems for hiring, onboarding, performance management, and other key aspects, ensuring consistency and efficiency.
In contrast, the seafaring side, comprising around 6,700 personnel, presents a larger logistical challenge, with ongoing efforts to develop and automate systems for engagement, onboarding, and management. The differing contract structures and sheer scale of the seafaring workforce require tailored solutions to effectively track and monitor personnel.
Business-Focused HR Approach
When it comes to HR, Seaspan’s approach emphasizes understanding the business and its needs. The key advice is to be curious about the organization, its customers, and what drives its success. By aligning people solutions with business objectives, HR can provide value and support the company’s goals.
This approach prioritizes meeting business needs while still recognizing the importance of taking care of employees. By staying focused on what adds value to the organization, HR can make informed decisions that drive progress.