Execution of new corporate strategy
The CHALLENGE
Danish Ship Finance (Danmarks Skibskredit) has been committed to ship financing since 1961 and is a trusted partner for Danish and international shipping companies. A highly specialized niche player operating a loan book of approximately USD 6 billion secured by first priority mortgages in approximately 700 vessels.
The majority of the shares in Danish Ship Finance were sold to a consortium consisting of Axcel, PKA and PFA in 2016. On the back of this, a new strategy was developed to become agile and fast at adapting to changing client requirements and a changing competitive landscape. The primary focus of the strategy would be to focus on optimizing the lending-capacity i.e. increasing the loan-book while maintaining a prudent risk policy; diversifying the funding sources by establishing an international investor base; and optimizing the internal processes to minimize heavy manual work i.e. increasing speed of execution and accuracy.
The solution
A structured approach was taken to secure effective strategy execution through structured management of all strategic projects. This included establishing a transparent portfolio roadmap and developing clear governance and reporting both toward the executive team as well as the Board of Directors. In addition, a new strategic toolbox was developed, a new Project Office was established, and coaching and development of the project managers and leadership team was an integrated part of the effort.
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