Jotun Marine Coatings is a world leading provider of marine coatings to the Newbuilding, DryDock and SeaStock markets. In addition, Jotun supplies coating solutions for megayachts and leisure yachts.
A return to growth
Results and profitability for the Marine Coatings segment improved significantly in 2019, primarily driven by a recovery of the newbuilding market, especially in South Korea, where Jotun has a strong market presence. In addition, Jotun’s work to develop products and services to expand market share in the DryDock and SeaStock concepts was rewarded with strong sales growth, notably in West Europe and South East Asia.
Partnering with shipyards
Shipyards respond to Jotun’s ability to help accelerate production and comply with environmental regulations by offering excellent on-site service quality and product innovation. For example, Jotun launched a unique, patented solvent free primer (Jotacote Universal S120) that complies with emerging limits of solvent emissions in Europe and South Korea. In 2019, Jotun has supplied Jotacote Universal S120 to the Meyer Werft shipyard in Papenburg, Germany, and signed a Memorandum of Understanding (MoU) with Hyundai Heavy Industries in South Korea. Chokwang Jotun will facilitate a close cooperation to help the yard manage Hazardous Air Pollutants (HAPs).
To meet growing demand for more predictable, long-term antifouling performance, Jotun launched SeaForce with Hydractive™ technology in 2019. Originally launched in 2004, SeaForce biocidal antifouling products enable a more predictable release of biocides over the lifetime of the coating. The new range features three core products to meet different needs: SeaForce Shield, offering effective protection in normal trades, SeaForce Active, which works to safeguard hulls in more challenging trades, and SeaForce Active Plus, which delivers premium protection while still meeting budget requirements.
To support owners and ship managers in the SeaStock concept, Jotun offers Jotamastic and Hardtop Smartpack solutions (ideal for brush and roller application) and uses data-centric tools to optimise onboard maintenance. Jotun’s SeaStock Management Solutions (SSMS) is a service that utilises digital tools to optimise port and product mix, allowing owners to outsource seastock management to Jotun.
In the years ahead, Jotun’s service quality, product portfolio, and digital tools will be growth drivers. While global newbuilding activity is expected to decline next year, Jotun’s close cooperation with owners and key shipyards and continued development of innovative products and services has placed the company in a strong position to tender for a number of exciting fleet expansion projects expected to be announced in 2020.