We praise ourselves for economic husbandry with limited resources. The more limited our resources are; the more we need to see and catch things early and adjust fast. We could have recognized the coming of the Corona pandemic faster. Never-theless I am very grateful for everybody´s contribution to help to adjust our operations fast once the writing was on the wall.  

Many of us have relatives and relations that have fared badly during these very hard times. I hope all of you feel our sympathy and assistance to help. Many of us have been put on furlough, which is a tough experience. Others among us have been made redundant, which is much worse. I hope we provide necessary assistance and that you will find new employment soon. After all most of you have a past working experience to be proud of. Many thanks to all of you that have reduced your compensation in form of salary and are prepared to wait for our ships to get new employment again. Many thanks also to all of you, who work more diligently than ever to make our company survive these terrible times.

Apart from working with less resources, working from home is a new experience for most of us. It is surprising how well organized meetings can be performed by virtual media. From now on there is no excuse not to attend an agreed meeting. It is also much easier now to organize group meetings in order to faster gain reflections and consensus on a subject. The art of working from distance is here to stay and will develop further. I am very optimistic about our capacity to grasp the new opportunities in consequence. More will follow on new working methods and opportunities related to both systems and styles.

Every business has limited resources. Economic survival is never a given. 

This is the fifth time in my working life since 1972 I experience a deep recession. Each recession has its causes. Normally they come from relaxed financial resources causing irresponsible speculations and investments. This time it is not the case. On the contrary. There never was so many people positively involved in a world economy growing in a reasonably balanced mode. The shock sweeping over all our societies will take a considerable time to repair. You can find a short exposé below how our different activities are affected.

Worst affected is our business drilling for oil. With reduced consumption of oil and a dramatic consequential loss in oil prices most of our contracts for exploratory as well as development drilling were cancelled by the operators of oil-fields. The size of our losses caused both by expenses for people without employment as well as by heavy capital costs are enormous. Many of our competitors have ceased trading and are in for recapitalization. Their drilling units do nevertheless still continue to exist and will continue to depress our markets. Our chance is our disciplined way of conducting our business. Perfection is our way to create confidence by our clients. So far we are reason-ably successful, but only on the margin. The results for 2020 are gone, but we have a few prospects for 2021 to address and hope to be successful. 

Our tankers are enjoying their best time ever as many of them are used for storage of oil. This will not last, but the first half of this year has been very successful.

Our ferry lines are hit hard by restrictions for individuals to travel. Eighty percent of travel has disappeared and we have closed two ferry lines indefinitely and put four ferries in lay-up. Hopefully restrictions are loosening up and travel will restart. Transportation of lorries and trailers on our ferries has been reduced by 15 to 20 percent. At present 90 percent of our freight traffic seems to be running with us again.

Stena Property continues to develop its potential. Our objec-tives to build 1,000 apartments and create 1,000 plus apartments per year are within reach. With times being as uncertain, as they are at present, we shall restrict our ambitions and produce only 700 new apartments per year. This level will also safeguard the capacity of our daily management to continue to cope with care. Now more than ever it is important to continue our  efforts to assist young people and help our tenants that are badly affected by the present crisis. For the coming summer we envisage to employ 365 young persons with meaningful tasks related to maintenance of our buildings and caring tasks for children and elderly.

Our wholly owned companies in our Adactum portfolio keep struggling on and still have positive results. Ballingslöv International our Kitchen-maker is running with reduced volumes, but has still positive results. Envac our contracting company, building systems for transporting waste in pipes, has an orderbook on which they can continue to live for a while. Blomsterlandet is experiencing an increased demand for flowers and vegetation products and enjoy better results. Our companies where we have part-ownership namely Beijer Electronics, Gunnebo, Midsona and Stena Renewables are struggling on. Midsona in particular enjoys good times and will continue to expand.

Stena Recycling will still generate a positive results despite the fact that incoming scrap and waste volumes have been more or less been reduced by a third. Demand for our recycled materials is sufficient. Recycling of plastics is by large investments in technically advanced  treatment plants a new interesting contribution to our palette of top of the art contributions to a circular society. 

The companies contained in Stena Metall Trade and Industry are still producing positive results thanks to an exceptionally positive year for Stena Oil. Stena Aluminium, Stena Stål and Stena Components are struggling on.

Cash to paddle through a crisis like this is the most important aspect for a company like ours. Thanks to support from our bankers, the bond-markets, the export guarantee institute and export credit institute Stena is financially in good shape for this year, for 2021 and beyond.

We must keep on fighting and I appreciate all relentless efforts being performed daily by so many of you to make us survive through this crisis. It is most important to keep on working by the new manners agreed upon and not fall back into old behavior letting old expenses reappear. The new way of working must have its chance even though it is sometimes difficult and easy to fall back into the old once proven ways of doing things. Following up and scrutinizing our behavior and costs are therefore extremely important. This way we can create stability again leading back to profitability and growth after a crisis that seems to be the worst since the 1930:ies.

Wishing you all a pleasant summer.

Dan Sten Olsson

Gothenburg 10 June 2020

And I am not only convinced that it is possible to care about people and profitability at the same time, they also affect each other in a positive way. The right culture and leadership can be an effective lever to achieve our goals. There is a neglected asset here in many organizations. And this is what motivates me. That is why I am so passionate about people and leadership. 

That is, increasing the prerequisites to utilize everything that all of us working at Stena can and want to contribute with. Both by removing obstacles and providing enablers. I believe in consciously creating the culture that supports the goals we are to achieve. Ask the question – “What do we need for everyone to contribute in the best possible way?” What is required of me as an employee and what is required in terms of leadership? 

But perhaps most importantly, this changes over time. It doesn’t look the same today as it did a few years back. If Stena can keep up with the changes we see in leadership, learning and new ways of working, we will benefit greatly from this. 

Most people agree that development is moving fast. We see it, for example, in both digitalization and sustainability. Among other things the change affects business models, roles, requested skills and our attractiveness as a supplier, partner and employer. The “winner” is likely to be the one to adapt the fastest or, even better, stays a step ahead. 

It is not easy to be large and at the same time adaptable. That’s why we talk a lot about duality. We need to maintain the stability in our structure and hierarchy while, at the same time, developing the ability to work quickly and flexibly in networks. 

The one who has a leadership role has a greater responsibility that comes with the mandates of a manager. 

But we are all needed. When a company develops, it means in fact that the employees are the once changing. One of our most important duties is that we continue to be curious and willing to learn new things. We also need to take greater responsibility for being involved and driving development by fully contributing with our knowledge and skills. 

Leadership’s most important duty is therefore to enable and strengthen rather than to provide directives and control. 

It is fantastic to be a part of Stena, where we invest in development, competence supply and have Innovation as one of our key values. 

All Stena company’s work with this based on their own needs and possibilities. But we also provide development and learning through our joint initiatives such as Faster Forward and the leadership program Ready 4 Anything. Don’t miss out on that!

With entire populations quarantined and borders effectively closed (at time of writing in mid-May), crew changes remain extremely difficult to execute. 

Unable to disembark into closed nations, significant numbers of sea-farers onboard Northern Marine managed vessels have had to extend their time onboard by weeks and months. 

Recently, some European countries have begun permitting crew changes, however drastically reduced airline capacity and repatriation restrictions at the seafarers’ home nations, have created further insurmountable barriers. 

Shore based Crewing and Travel Management teams have completed a small number of crew changes when possible, however the seafarers’ health and safety is the priority with strict control measures in place to prevent potential spread of infection or exposure to an unacceptable level of risk.

COMMENDED PROFESSIONALISM

Frustration is also extended to relief seafarers at home who are ready and motivated to begin their vessel assignments and allow their colleagues to come home. 

Philip Fullerton, Managing Director, Northern Marine Group, said: “In the Company’s almost 40-year history, we have never faced a logistical challenge as significant as this. 

“Our absolute focus is finding ways to return home our colleagues at sea who are working beyond their tour of duty.

“We have lobbied hard with authorities to designate seafarers as ‘key workers’ therefore making them eligible for disembarkation, however even if we get our colleagues off the vessels, further onshore restrictions have created more obstacles. Their safety must be the priority. 

“Myself and many of the senior management team at Northern Marine have had careers at sea and we understand what it is like to be away from your families and loved ones for long durations of time; however what some of our seafarers are experiencing today is considerably more difficult.

“They have demonstrated silent professionalism and dedication throughout this challenging period, which is commended by all of us.”

EXCEPTIONAL CHALLENGE

As a seafarer of 30 years’ experience, having led crews on many Stena vessels, Captain Sadananda Deshpande rates the current challenge as exceptional. 

He said: “The most important aspect of my role currently is to keep the crew as happy as I can, keep them motivated without having to worry them too much.

“I believe keeping people informed is the best way to tackle any situation. Here I do not have to do much because all the information is already available from the Company or on the internet. 

“The only thing I am trying to ensure, or trying to take care of, is making sure people stay focused onboard and keep themselves safe. 

“In the current situation people must be mentally tough and most seafarers are tough. You join a vessel for a certain length of time – we understand that – but I’ve always left home telling my family I will come back when I come back. I commit to doing what is required.

 “We’ll get through this together. I am very proud of what we as sea-farers are doing to help society.”

The meeting resolved, in accordance with the nomination committee’s proposal, to re-elect all six ordinary board members, to appoint Carl-Johan Hagman as chairman of the board and that no dividends would be paid for the 2019 financial year.

In his speech, CEO Kim Ullman described the market for the first three quarters of 2019 as weak, while the last quarter was marked by a sharp rise. With a smoothly functioning organisation, good cost control and participation in Stena’s well-managed ship pools, senior management felt relatively satisfied despite a challenging year for the tanker market. 

CFO Ola Helgesson also described 2019 as a tough year with a strong close. Concordia’s share rose by about 20% during the year, from SEK 12.20 SEK 14.60. Ola Helgesson also presented the company’s work with sustainability. When it comes to environmental responsibility, Concordia Maritime is prioritising reduction of bunker consumption. In 2019, it was reduced by 0.23 tonnes per day at sea for vessels, which entails that CO2 emissions decreased by 2,000 tonnes.

Kim Ullman concluded by describing the very special beginning of 2020 with Covid-19 and falling oil prices, and how this has, and will, affect the market. Kim Ullman believes that a strong Q1 will be followed by a relatively strong Q2. Overproduction of oil and low prices have led to a major need for storage of oil – both on land and on tankers. The low net growth of tankers is likely to continue. Q3 is predicted to be weaker, with possible recovery in Q4. But all forecasts are characterised by considerable uncertainty.

Annual Report 2019

Interim Report Q1 2020

The converted ferry will sail under the name A Nepita and has been painted in the Corsica Linea colors, which are red, white, black and grey. The vessel is being converted from a day to night ferry and fitted with an additional 94 new cabins and 33 existing crew cabins are being converted passenger cabins. Total number of new passenger cabins is increasing from 45 to 176. The A Nepita will be able to operate both on the shipping company’s domestic lines and between France and North Africa.

“The conversion has gone extremely fast and we’re very happy with the results thus far,” says Niklas Andersson, General Manager for Operations at Stena RoRo. 

“The Mediterranean is a familiar business area for us, but in this case it’s a new customer and that’s especially nice. This assignment – taking the customer’s wishes, translating them into action and acting quickly – is what we’re best at.”

“The procurement and process with inspection has moved extremely fast, cooperation with the suppliers has gone very well and we are very pleased with the execution of the entire project,” says Claes Tisell, Site Manager for Stena RoRo and on site at the shipyard in Greece. “Despite major difficulties related to the coronavirus (Covid-19), with shipyard workers and contractors among others, forced into quarantine, we’ve still managed to stay on schedule.” 

The location where the conversion is underway is not a traditional shipyard. The vessel is tied up at a dock along with the other vessels and thus has a piece of land to which subcontractors have access. The entire job is then coordinated by a local firm that is responsible for carrying out the work on time and within budget. A floating dock is used as necessary.

“This is a known and appreciated concept in the Mediterranean and not least in the Pireaus, which entails considerable freedom in planning and execution,” Claes explains.

The ferry, built in 2002, was formerly called the Stena Superfast X and has among other things, operated under Stena Line’s management on the line between Dublin and Holyhead.

ABOUT CORSICA LINEA

Corsica Linea is a French, medium-sized shipping company with a fleet of 7–8 ships. The company was set up in connection with the end of the state-owned and problem-ridden SNCM in 2016. Service is provided between Marseille, Corsica and North Africa. www.corsicalinea.com

FOLLOW THE CONSTRUCTION FROM THE BEGINNING THROUGH TO TODAY

The fuel, which GoodFuels launched in 2018, reduces greenhouse gas emissions by 83% and substantially reduces SOX emissions. The trial was completed on the Stena Immortal as she ran in typical commercial operation. During the trial, BFO was tested in tanks, storage and as it was burned in the engines, the fuel was again proven to be a technically compliant alternative to the fossil default for oceangoing tanker vessels. 

The success of this trial further underlines sustainable marine biofuel’s position within the marine fuel mix, and helps owners and operators to future-proof against current and impending regulations. As the trial was conducted with 100% biofuel, it also shows that low-carbon shipping doesn’t have to be decades away but viable also on the shorter term if industry leaders work together to push the development.

“We like to show the industry that we can start reducing the carbon footprint of shipping here and now while maintaining highest quality technical and commercial operations. The Stena Immortal performed very well running on the biofuel while continuing to deliver according to our customers’ needs without any disruption”, says Erik Hånell, President and CEO Stena Bulk.

“The industry needs pioneers willing to collaborate, share knowledge and push the development towards more sustainable shipping. We’re happy to collaborate with GoodFuels in this test to take on that mission and encourage others to join us. We are of course open and have a willingness to drive and take part of this development together with stakeholders in this industry,” Erik Hånell continues.

Stena Bulk MR vessel Stena Immortal ran on 100% biofuel during a 10-day sea trial.

Press Release

The Barking and Dagenham vacuum waste collection system is Envac’s second in London. The first was installed in Wembley back in 2005, but in the years to follow, the financial crisis caused a significant downturn in the market.  

“A few years later, we were visited by a delegation of courageous politicians who wanted to challenge old structures and the traditional ways of approaching urban development,” says Patrick Haraldsson, CEO of Envac. “An important part of it was about being able to make the most of the space available, creating good traffic conditions without a lot of heavy transports and with a tidy urban environment. People began looking at our system as a good solution.”

The traditional waste disposal system in London is based on residents placing their waste sacks on the pavement for collection by refuse lorries, often at night.  Around 15–20 percent of all heavy transports involve waste management.

“By using our system, Barking and Dagenham can reduce their heavy transports for waste in the borough by 90 percent. In addition, around 14,000 square metres are freed, which can be used for more flats instead of for traditional waste management, which requires a lot more space,” says Patrick Haraldsson. 

Once the new residential area is completed, 14,000 flats will have access to the new waste collection system. This will enable the elimination of 19,000 bins that would otherwise have been needed to collect the waste.

“At present, about 400 flats have been connected to the system – the first in April last year – and the system has worked perfectly without any disruptions,” says Patrick Haraldsson.

Left

The waste is moved further underground by suction to closed containers at one of the area’s two central collection points.

Top right

The closed containers are picked up by a container lorry.

Middle

Residents never have more than 50 meters to the nearest waste chute.

Bottom right

Patrick Haraldsson, CEO Envac

Residents deposit their waste in chutes, with sorting by household waste and materials for recycling. Residents never have more than 50 meters to the nearest waste chute. When a certain level has been reached in the chute shaft, the waste is moved further underground by suction to closed containers at one of the area’s two central collection points, where they are then picked up by a container lorry. The maximum suction distance is 2,000 metres. The system detects the type of waste deposited and automatically regulates the amount of air pressure needed based on the weight of the waste. In this way, a system is attained that is both energy optimized and efficient.

“Normal waste bags can’t get stuck. If someone should push in a somewhat longer object and it fastens in a bend, we can pull it out by applying a little extra pressure,” says Patrick Haraldsson. 

Envac currently has 36 offices in 22 countries on all continents except Africa. In addition to Envac, which is the largest on the market, there are another fifteen companies that offer similar systems.

“So far, only about 45 cities in the world, or 0.1 percent, have automated waste management as municipal infrastructure. This means that the potential is enormous, not the least in China and India, where there is major interest and where we’ve already started installing systems,” says Patrick Haraldsson.

The most common is to install the system in conjunction with new construction. But it is also an excellent solution for existing urban environments, and has been adopted in Norwegian Bergen, for example, with great success.

“Here they’ve really collaborated across borders within the municipality to get the clean and tidy city they want without a lot of unnecessary transport. The most important factor for success is that there is a political will – and that has really existed both in Bergen and in Barking and
Dagenham,” says Patrick Haraldsson.

“As usual, we are prepared to handle materials from all types of operations. We are also prepared to take on new challenges regarding waste management and recycling issues with both new and old customers. Even in a crisis, everyone we work with can feel confident that we will be delivering as we should and are not compromising our high quality as a leading recycler.” 

CHALLENGING BUT MANAGEABLE SITUATION

Åke Algotsson is the branch manager at Stena Recycling in Örebro, one of Stena Recycling’s 85 plants in Sweden. He describes the months since the beginning of the Corona crisis as challenging but definitely manageable. Locally in Örebro, the total amount of material that comes in for recycling has not decreased, but the flows have changed. At the same time, agreements with several new customers have been made in the midst of the crisis. 

“Materials are streaming in from the recycling centers as an effect of so many having time to renovate and clean their garages, gardens and summer cottages. We also get a lot of packaging and other materials from construction markets for return to the circular flow. At the same time, we are proud and happy to have been entrusted to work with several new companies in the region.” 

THERE ARE SIMPLE IMPROVEMENTS TO BE MADE

Åke Algotsson’s tips for companies that currently have less to do is to take the opportunity to review their waste sorting. There are often simple improvements to be made for increasing the recycling rate of their production waste, for example, and thus making their companies more sustainable.

“As an example, you can look at the combustible fraction. What really ends up there, and should it really end up there? There is always something that can be sorted for recycling instead of being incinerated. Either the customers can sort better themselves or we can do the sorting here at our plant. The goal is that there should be as little as possible after sorting to be sent to incineration and energy production.”

INDUSTRY COLLEAGUES SUPPORT EACH OTHER

Åke Algotsson mentions that right now there is a tremendous desire in the recycling industry to help out and to not take advantage of other’s difficulties.

“We have held discussions with our industry colleagues and are supporting each other. If our competitors are having problems with managing a material, we can take over, and vice versa. This is something we do as a temporary solution for the good of all. We have a socially important business and it is important that we get through the crisis and are ready to go when all industries and companies return to full operation.” 

TRANSPARENCY WITH PARTNERS AND CUSTOMERS

There is also a special form of transparency during the crisis with customers and potential partners. When one of the municipalities in the Örebro district was to procure recycling services in the midst of the crisis, Åke Algotsson realised that no one could submit a tender at a good price.

“I explained that they would not be receiving any attractive tenders as the situation is right now. The reason for this is that the prices for recycled raw materials are very uncertain, which makes it difficult to set fair prices in a tender. The risk is that taxpayers could end up paying for a bad contract. The municipality decided to postpone the procurement, which is to the benefit of all concerned.

“I think that’s how we’ll all get through this period in the best possible way; with transparency and honesty, through close dialogue and sharing our knowledge. Recycling is equally important both in a crisis and in ordinary times.” 

“We saw the needs coming and acted early to secure resources,” says Jesper Holmqvist at Stena Recycling, responsible for colla-boration with Region Stockholm. “We have now increased the pick-up intervals at several hospitals in Stockholm. Despite the pressing situation, everything is going as it should and we have the capacity to handle even larger volumes.”

Stena Recycling has had an agreement with Region Stockholm for several years for the collection and treatment of all waste from the hospitals in the region. As the Corona crisis began to escalate, Stena Recycling’s task force put together a contingency plan with a few measures to stay ahead of events and to ensure the safe handling of future waste. Three critical points are decisive for this: access to packaging, smoothly functioning transport and the capability for destroying waste at approved plants. 

“Packaging is in short supply in some parts of the country, but we have managed to secure supplies and have ample stock for covering the needs of Stockholm’s hospitals,” says Jesper Holmqvist. “In terms of logistics, we have ensured that our carriers place the highest priority on the infectious waste. We also have a backup solution in case that several drivers should become ill. We have even received assurances from the destruction facility that they are taking their societal responsibilities and adapting their processes to take care of larger amounts of waste.” 

Eva Öhrn is head of sustainability for the St. Göran hospital and responsible for waste management. Here’s how she sees collaboration:

“Stena Recycling has been very professional. Every week we have phone meetings to review the situation and see if any additional actions need to be taken. In between these meetings, we have phone contact as necessary. Stena has also notified us that at short notice, they can increase the number of transports from the hospital if needed. They have also told us about how the supply of materials has been secured as well as the alternative recipients of our infectious waste should problems arise.” 

HOW IMPORTANT IS IT FOR HOSPITALS THAT WASTE MANAGEMENT IS PROPERLY PERFORMED?

“It’s very important. There are legal requirements, but also logistics concerns. Our recycling station is not dimensioned for handling larger volumes of contagious waste, so we are completely dependent on the waste being collected according to schedule. Also important in the context is frequent and regular dialogue between Stena Recycling and the hospitals.” 

Thanks to close collaboration, management of healthcare waste in Region Stockholm is carried out under safe forms. 

“Our top priority right now is that everything continues to flow flawlessly so that the hospitals can fully focus on their core mission,” says Jesper Holmqvist.

Despite a tough situation for the ferry industry due to COVID-19 ferry shipping company Stena Line continues its sustainable journey. In the newly published sustainability overview Stena Line presents initiatives, improvements and challenges within the sustainability area as well as give account on the companies ambitious sustainability targets.

During 2019 Stena Line to reduce CO2 emissions and is now ten years ahead of the international shipping targets for reducing emissions. The company reduced the total CO2 emissions with 1,7%, corresponding to 24,000 tonnes of CO2 in total.

Even more important is that Stena Line continued to improve the efficiency and reduced the emissions per transported ton freight and passenger vehicles onboard the vessels with 3,6% CO2. This means that Stena Line, ten years ahead, already meets the International Maritime Organisation (IMO) targets for 2030 of a 40 % reductions in CO2 emissions efficiency from 2008-2030.

“We aim to be the leader in sustainable shipping and we have high ambitions. During the last ten years we have improved the efficiency with more than 320 energy efficiency actions onboard and onshore, both technical and operational improvements and investments. The introduction of AI assisted vessels and the delivery of our first new larger and energy efficient vessels that went into operations on the Irish Sea during the spring, are some highlights from last year”, says Erik Lewenhaupt, Head of Sustainability at Stena Line.

STENA ELEKTRA

Stena Line aims to launch a fully battery powered vessel before 2030. Stena Elektra is a lightweight battery powered vessel with capacity to run approximately 50 nautical miles on batteries only, i.e. between Gothenburg or Fredrikshavn. The project is an important step on the way to reach zero emissions by 2050 (image on top of the article).

AMBITION IS ZERO EMISSIONS BY 2050

The largest challenge for the shipping industry as a whole and for Stena Line is to reach zero emissions by 2050, in line with international targets.

“We are currently working in parallel with reducing fuel consumption, and emissions to sea and air and at the same time exploring and evaluating the fuels for the future. We are currently involved in several projects with alternative fuels and propulsion, including the world’s first methanol powered vessel and a battery project with the aim of launching a fully battery powered vessel before 2030”, says Erik Lewenhaupt, Head of Sustainability at Stena Line.

STENA LINE SUSTAINABILITY STRATEGY

Our commitment to sustainability centers around five focus areas that support the United Nations’ Global Goals. Together we work to protect life below water, ensure responsible consumption, increase the use of clean energy and ensure safety, good health and well-being for our guests and employees. We embrace equality and inclusion in all aspects of our business. Ambitious targets are defined for each area, and the development is closely monitored, with the ambition that Stena Line should be a leader in sustainable shipping.

HIGHLIGHTS IN “A SUSTAINABLE JOURNEY 2019/2020”

• Reduced our total CO2 emissions with -1.7% as well as -3.6% ton/km, measured by unit transported on our vessels.
• Reduced almost all single use plastic onboard and substan-tially improved share of recycled material in our offices, ports and terminals.
• Reduced the use of harmful chemicals and detergents. The newly introduced Stena Estrid and Stena Edda are best in class with 80% Eco-label chemicals.
• Increased the number of female leaders in the company. In total 20% of managers are females.

Read more at www.StenaLine.com

Key conversations also take place within a handful of business sectors with specific topics and dedicated staff. I participate in both the “Transport and Logistics Governors’ meeting” as well as the “Oil and Gas Governors’ meeting”. In these meetings the key players in each industry raise topics that are of common concern for the sector. Reports and follow-ups on topics from last year’s meeting are discussed as well as agendas for the coming year. These meetings are the most important for me. The largest global forwarders and logistics companies are there. It is invaluable to come to the meeting half an hour early just to have a coffee with the other participants. It is very collegial and friendly but also grapple with the issues at stake, for example how the oil industry should decarbonize. For some inexplicable reason I opened the Oil and Gas meeting this year. The meetings are often followed up by dinners.

Alongside the industry sectorial meetings, are a host of formal interactions on topics that are of overriding concern. There are 5-10 such hour long seminars running in parallel from 7 in the morning to 8 in the evening. The underlying theme of these subjects is what is called “Stakeholder capitalism” which comes from the insight that no one actor or sector can fix the world’s underlying challenges. Only through dialogue between policy makers, the reasearch and academic communities, NGOs and corporations, can we make meaningful headway. The completely dominating subject this year was transitioning to a zero-carbon world. These discussions reflect a general disappointment with man’s inability to be stewards of our planet, recognizing that our environmental challenges probably are understated and that we are currently heading towards a 4 degree temperature increase. There is considerable frustration from governments, organisations and representatives from the younger generations, not least Greta Thunberg, who are calling for drastic and immediate action. It is obvious that democratically elected leaders from individual countries have very little global influence. Most fingers are therefore pointed towards industry without any deeper understanding of the basic premises that private enterprises in an open market operate from.  

Several capitalists, and most NGOs, argue that we need to re-align our open and market based democracies for them not to lose more trust and credibility with the wider popu-lation. The UN Sustainability Development Goals are seen as one pathway to a better system. Corporates are still very divided, for good reason. A significant difference in tone came from a surprisingly united finance and insurance sector, as well as from the rating agencies, who probably will be setting the pace for moving away from carbons in the western world. There was much talk about decarbonization of the “hard to abate” sectors, which are cement, steel, chemicals, aviation, and shipping. Hydrogen produced by non-fossil electricity is the solution that is on everybody’s lips. Stena gets a lot of credibility for what we are doing with methanol.  

The tone was also different this year, compared to last year, in that data driven technical solutions no longer are a novelty, but a fact. The broader question is how they will be used and if they can be regulated and taxed to the benefit of wider society. 

Another arena is where politicians try to make statements. President Donald Trump held a very well attended speech, probably intended for domestic US voters in the up-coming election. He had a battery of statistics to show that the US had never been better and stronger and that the rest of the world were pessimists. China’s vice premier was also there, delivering a rosy speech on how his country would play an active part in forging our joint future. Ursula von der Leyen, the new president of the European Commission, outlined EU’s “New Green Deal” and focus on digital capabilities, noting that GDPR was a great success but that only one of the world’s 50 largest digital companies is European. There was assertiveness from both Europe and NATO, recognizing that they had to get their houses in order for them to be globally relevant. The superstar is Christine Lagarde, previous head of the International Monetary Fund and now heading the European Central Bank, who dominates the Euro-area and the debate amongst the central bankers. It was very interesting to listen to the prime ministers from both Finland and Austria, both 34 years old. They have a completely new vocabulary and probably relate to younger generations in a very different way than more established and older politicians. Initially I was very sceptical, but having spoken to them both, I am actually very hopeful and they certainly represent a more diverse, inclusive and interesting Europe.

After four days of meetings, on varying levels, with varying interaction, on completely different topics, it is time to go home. The breakfast meetings start at 6:30 and the last nightcaps are done well past midnight. The lack of sleep is compensated by good excercise.  Davos is a village stretched along one single main road. I netted 20,000-25,000 steps a day on ice covered sidewalks, trying to run and push past the 15,000 or so additional attendees, the 6,000 policemen and the 500 journalists. It is an intellectual Disneyland and I am very privileged to be able to attend and represent Stena. On the other hand, it is obvious that we as a company and industry have formidable challenges in a world that is changing faster than ever. It is also frustrating to understand that the world does not have a play-book, our joint success is dependant upon what we, as individuals, do. And it is inspiring to understand that the more power we have – the more responsibilty we carry.

THE KEY TAKE-AWAYS FROM THE MEETING ARE:

• the world has two power nodes, they are the US and China, if anybody did not know
• the western world, and EU in particular, will politically drive a very aggressive environmental agenda the next few years that will hopefully unite the continent
• it seems that we have reached a tipping point where several major manufacturers are committed to paying for more sustain-able transportation services
• almost every company is now portraying itself as a logistics integrator in one way or another
• super platforms are taking over the world in “winner takes all” scenarios
• Stena is well recognized as a technically advanced boutique quality operator

Based on the above we have to make sure that Stena remains relevant by ensuring that our technical expertise and environmental work genuinely is in the heart of everything we do, in our strategy and in our identity. Also we must widen our horizons and see business opportunity where new technology provides completely new capabilities. Our logistics endeavors within shipping are therefore crucial.  Our biggest challenge is that the world now moves very quickly. Public opinion, customers and competition are certainly not sitting still.  We must be faster and better than we have ever been before.

Carl-Johan Hagman

29 January 2020

FACTS WEF

The World Economic Forum is considered as the most important international organization for public-private cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. Established in 1971 as a non-profit association. Headquartered in Geneva, Switzerland. Independent, impartial and not tied to any special interests. The Forum strives in all its efforts to demonstrate entrepreneurship in the global public interest while upholding the highest standards of governance. Moral and intellectual integrity is at the heart of everything it does. 

Focus on three key strategic challenges: 

• Mastering the fourth industrial revolution
• Solving the problems of the global commons
• Addressing global sequrity issues

An ultramarathon should be longer than a marathon (42.2 km). Common distances are 50 km, 100 km, 50 miles (81 km) and 100 miles (162 km). The longer distances are usually not 100% measured, which means that 50 miles can easily be 90 km.

The amount of time a race takes is obviously individual, but it also depends on the terrain. Elevation is also a factor. It is not uncommon to follow the route using a digital map on your GPS watch or GPS unit. 

Some ultramarathons are self-sufficient, which means that you have to carry energy, but water  is usually available and marked on the map.

“I haven’t yet run an ultramarathon that requires sleeping, but that will come…” says Fredrik.

Daniel and Fredrik run 80–100 kilometers each week, distributed over every day of the week. It is important to fit in workouts whenever possible. Before or after work, at lunch, early over the weekend and transport running, which means running to and from work, or to a dinner party.

HOW DO YOU RAMP UP FOR A RACE?

“The week before an ultramarathon, I try to get in enough sleep,” says Fredrik. In terms of nourishment, I make no changes and eat as usual. No “pasta loading” in other words. I go over my equipment, energy plan and think through the race and set up the sub-goal plan you need to have. You can’t start a 100-mile race and the first thing you think is – ‘wow, so many miles left …’. You have to divide it into segments and goals. Sub-goals can be the first checkpoint, the first time you get a piece of candy. When you get to change to a fresh undershirt that you have in your drop-bag, and so on.”

“I usually focus on my sleep and cut back on exercise,” says Daniel. “I run every day (runstreak), all year round, outdoors. In the final days before an ultramarathon, it might only be a few kilometers a day.”

For Fredrik and Daniel, running is as way of getting away from everyday demands and work as a happiness pill. They often start their runs with heads full of thoughts and everyday distractions, but get back with solutions for problems and feeling relaxed.

“Choosing ultramarathons has to do with the challenge,” says Fredrik. “What I can achieve by pushing myself, physically but also mentally. And getting out into the fresh air with my workouts is a big bonus.”

“I’ve always loved being out in nature, so when I started running it became quite natural that I wanted to be out longer and longer,” says Daniel. “Not so much for the distance, more that I wanted to be outside for longer periods. Because I started training so late in life (2014), I realized quite early that I cannot be ‘fast’. However, I’ve seen that I never give up and I have the ability to steel myself and expose myself to levels of stress I’d never dreamed of before. That’s why I started increasing the distance more and more.”

Daniel and Fredrik agree that ultra-running is a friendly sport. Everyone cheers for you and your fellow runners and participant help each other out. There is often a requirement for carrying first-aid kits and you have to stop and help if someone has problems or gets injured.

”I like to meet new people,” says Daniel. “I simply want others to experience what is so great about running. I’ve also created Facebook and Messenger groups for ‘community runs’. Last year, I was involved in arranging a relay race along the Halland coast.”

“Ultra-running gives me a lot back,” says Fredrik. “Nothing is really a hassle any more, now that I know what I can manage and that I know that I can managed to turn the negative thoughts and get back in the race.”

COPE WITH THE PSYCHOLOGICAL STRESS

Daniel and Fredrik say that in many cases, the prerequisite for reaching the finish line is the ability to cope with the psychological stress. It is therefore important to train for this and there are many different ways of going about this. The Ultra Interval Challenge is an example where for 24 hours, you run 80 kilometers starting a 10 kilometer loop every three hours. Among other things, you have to get up in the middle of the night to ‘run your 10k’. This is an easy way to practice running while sleepy and possibly a little unmotivated.

WHAT’S THE BEST THING ABOUT ULTRA-RUNNING?

“That every race is different,” says Fredrik. “There’s also the nice comradeship that has given me many new friends.”

“Being outdoors for longer periods,” says Daniel.

BEST ULTRAMARATHON YOU’VE RUN?

“I don’t have much experience from those high-profile marathons; I try to train and compete in my immediate area so as not to take too much time from family and work,” says Daniel. So the Sandsjöbacka Trail would have to be my answer.

“Scenic Trail, K113 Ultra on the border between Switzerland and Italy,” says Fredrik. “You run on the ridges that surround the valleys of the Lugano district. Fantastic views,” says Fredrik.

Next scheduled marathon and common challenge for Fredrik and Daniel is the HUB200 (322 km) from Gothenburg to Båstad. The route is along the coast and, among other things, runs on 120 beaches. HUB200 is completely self-sufficient and you have the possibility to place a number of “drop-bags” with supplies, clothes, shoes, etc. along the route.

“The maximum time is 72 hours – now we may have the opportunity to sleep a little during aa ultramarathon for the first time…,” says Fredrik.

“Yes, the race goes past my house, so we can sleep there. It’s also one reason I signed up, an ultramarathon on ‘my’ trails – I can’t miss that,” Daniel concludes.

FREDRIK AND DANIEL’S ADVICE FOR THOSE WHO WANT TO BEGIN WITH ULTRA-RUNNING:

Everyone can run long distances! Start with shorter distances to gradually build up physical endurance. Try to run a little every day once you’ve started running. Practice eating and drinking while running. 

GEAR THAT’S GOOD TO CARRY:

• Backpack (for water, provisions, extra clothing)
• Poles
• Headlamp (important, we often run in the dark)
• GPS watch
• Large shoes (your feet will swell ????)

Last year, Stena introduced “Envisioning the Future” as part of their acclaimed leadership program Ready 4 Anything. The interactive and fully digital module highlights new technologies, behaviours, mega trends and scenarios – and how to create exciting new business opportunities based on that. Stena has also invited SKF to participate in the training – creating great value for both companies in terms of new networks and wider perspectives. 

“You must be daring and willing to experiment. Both companies gain from an outside-in perspective where you can be open, inspire and challenge each other. Inviting an external partner raises the level of the training even more. Besides, the new contacts created will hopefully lead to that those working together will keep in touch and help each other in the future”, says Dan Sten Olsson, CEO Stena AB.

The collaboration started when SKF HR Director Ann-Sofie Zaks heard about the training, became curious and contacted Stena to participate.

“We had already considered developing something similar at SKF, but we thought it was unnecessary when the what we were looking for already existed”, says Ann-Sofie Zaks, who leads a change initiative for the SKF group called People Transformation.

This led to the decision to run a pilot training with five managers from each company, which will now be scaled up with several trainings this year.

“Today’s rapid pace of change means that we need to train in a completely different way than before. This is the first time we have seen a model this efficient and scalable at the same time. We are extremely grateful to Stena for inviting us to this unique colla-boration. Other collaborations are usually about products and selling something to third parties, while here we get the oppor-tunity to help each other strengthen our organizations internally”, says Alrik Danielson, CEO AB SKF.

THE LEADERSHIP PROGRAM READY 4 ANYTHING DEVELOPS STENA’S LEADERS FOR THE FUTURE

Leaders at Stena are responsible for developing their employees, the business and themselves, which requires new skills as the outside world changes. The new Leadership Program Ready 4 Anything (R4A) is another step along the path towards positioning Stena’s leaders to capture the opportunities of the future. The program is divided into six modules, which are given on an ongoing basis and which are aimed at all leaders within Stena. External companies – primarily SKF – have participated in a couple of the trainings. The plan is now to do this in a bigger scale.

“At times like this, we see it as especially important to invest in summer jobs to help strengthen hope and belief in the future for young people in our neighborhoods,” says sustainability manager Cecilia Fredholm Vaarning. “That’s why we’re stretching our organisation to the limits so that we can enable more young people to get summer jobs. We’re offering 350 summer jobs this year.”

COVID-19 INITIATIVE — EVEN MORE SUMMER JOBS WITH PARTNERS

Stena Property has employed 300 summer workers each year since 2014, which is equal to the company’s number of regular employees. This year, the company is adding an additional 50 summer jobs. This is to give more young people the opportunity for a first job, to give them contacts for the future and to create a sense of security and pride in the neighborhoods where they live. Due to the pandemic, many summer jobs have disappeared, contributing to Stena Properties decision to further raise its ambitions. 

“We’re offering 350 summer jobs ourselves. At the same time we’re holding discussions with clubs and municipalities to employ even more young people in cooperation with them,” says Cecilia Fredholm Vaarning. “Because some municipalities have announced that they no longer have work for young people this summer, we’d like to go in where we can and ensure that as many young people as possible who live in our apartments have summer jobs. For example, in Skärholmen in Stockholm, we will be employing eight extra summer workers through collaboration with the organisation Ung Arena and the City of Stockholm.”

In Gothenburg, the company already enjoys a partnership with the Förebildarna organisation, where ten young people will work as so-called change agents.

NEW DUTIES – FOR INCREASED SOLIDARITY AND ACTIVITIES

In and around Stena Properties housing areas, events have been cancelled. And to meet the new reality, some job duties will be changed.

“With the current situation, we’re gearing up and making changes,” says Cecilia Fredholm Vaarning. “This means the summer workers can have new duties. As an example, they might be leading various forms of outdoor activities for children and the elderly in the neighborhood. In this way, summer workers can help children who are home for summer vacation have something to do when so much else is closed.”

Stena Property is following the recommendations of the Public Health Agency of Sweden and adapting operations thereafter. 

“We want to make it easy for our customers to live sustainably. As part of this work, together with Tibber, we have prepared an offer for our 26,000 tenants living in our almost 500 properties. We are very pleased with the collaboration with such an innovative player as Tibber, which enables our tenants to both buy renewable electricity and reduce their costs”, says Cecilia Fredholm, sustainability and communications manager at Stena Property.

Stena Property has previously been self-sufficient on locally produced wind electricity through its sister company Stena Renewable. Through the cooperation with Tibber, residents are now also able to buy locally produced wind electricity from Stena Renewable at good prices.

“We are incredibly pleased with this collaboration with Stena Property. Stena’s strong focus on a sustainable future is a driving force we also share. At Tibber, we have chosen not to make money on the electricity we sell, and thus have a unique incentive to help our customers actually consume less electricity, something that the traditional electricity companies have a hard time for. And less electricity, as you know, means less environmental impact”, says Daniel Lindén, founder of Tibber.

MAKING IT EASIER TO LIVE SUSTAINABLY

The digital electricity company Tibber has received media attention for its strong growth and innovative solutions in the electricity market. Recently, it was reported that the electricity company grew at record speed and increased its turnover by 250 percent last year. Now they start their first collaboration to simplify the supply and use of green electricity. Together with Stena Property, 26,000 tenants now have access to Tibber’s digital service where the user is given the opportunity to buy green electricity at purchase price directly from the producer without intermediaries and surcharges. Tibber has created a technology that purchases the cheapest electricity hour by hour from renewable sources and where they can control and reduce their customers’ electricity consumption using smart technology.