Jan Ole Huseby, Global Head of Ocean Industries at DNB, assesses the current state of the industry, the bank’s evolving role and the importance of events such as Nor-Shipping in bringing decision makers together to enable “common solutions for common challenges”.
Jan Ole Huseby is nothing if not a realist.
Sitting in DNB’s head office in Oslo, he’s carefully chewing on his words, trying to find the right phrasing to convey both the progress, and the lack of it, in shipping’s drive to decarbonise.
He’s as prudent as you’d expect the person leading the ocean industry division of one of the world’s largest maritime lenders to be, yet can’t help but express what seems like a heartfelt personal conviction.
There has, he opines, been a great deal of “noise” – an umbrella term that takes in everything from geopolitical upheaval to economic uncertainty – which has “stolen the focus” required to deliver the scale of transformation needed to accelerate the industry’s transition.
“It’s a shame,” he says, “but it’s not entirely negative either.”
Huseby continues that “ambitions have to be achievable” and, in a world currently lacking clear consensus and leadership, he’s optimistic about “technology leading the way.”
He explains: “Of course, targets are important, no one would argue with that. But we have to be realistic. And I think what we’re finally seeing now is the wider-scale adoption of proven technology that can deliver real efficiencies for the world fleet.
“In the world of business those gains – equally commercial and environmental – make all the difference. So, I see the potential for technology to lead. Yes, we have to push towards progress ourselves, that goes without saying, but the technology creates a real pull factor too. That, I believe, is an exciting opportunity.”
He laughs while admitting this is “a balancing act”, referring, it seems, as much to his own language as the business of shipping.
“With the right solutions we can move onto the right track,” he adds, “and I hope to see further evidence of that by the time we gather here for Nor-Shipping next year.”
Beyond finance
If technology provides the pull, Huseby believes long-term partnerships provide the stability needed to turn opportunity into progress.
Nor-Shipping itself, which DNB supports as a Main Partner, has chosen the theme NEXT for its 2027 activity programme – an aspirational call for the global industry to keep moving forward together. Huseby and his team will be in strong attendance, both on stage and across the exhibition floor from 7 to 11 June in Oslo and Lillestrøm, building relationships, sharing knowledge and engaging with customers throughout the week.
For DNB, those conversations are every bit as important as the transactions.
“We’ve been a leading shipping bank for over 50 years,” Huseby states, “and you don’t maintain that position unless you constantly work to understand, support and meet the changing needs of your customers.”
Those needs are evolving rapidly.
Rather than simply acting as a traditional provider of capital, Huseby says his division increasingly operates as “a strategic partner” across capital market products and throughout the industry value chain, helping customers navigate risk while identifying opportunity.
“We’re here to help businesses fulfil their long-term strategies,” he remarks, “with deep long-term partnerships. That’s the DNB way.”
Measured progress
Returning to technology, a question about which solutions are attracting the greatest interest from customers has Huseby spreading his hands wide.
“There’s no one answer to that, because every trade, every client and every vessel is different,” he says, explaining that projects are as diverse as the fuel types and technologies currently competing for attention.
“We support the customer, not the technology,” Huseby continues. “They are the ones that know their vessels and businesses inside out, so they lead on the technology.”
Optionality, he believes, is every bit as important for the bank as it is for shipowners.
“There are a great many solutions available and, for us and our customers, it’s about getting that risk-reward balance right. In some ways you could view the fact that there’s no one universal solution, or fuel type, as a challenge. But in another way, it allows for incremental change… for measured, and meaningful steps forward on the path to enhanced efficiency and sustainability.
“That’s how we’ll actually get to where this industry wants to go, one step at a time,” he comments.
“But we do all have to move in that direction… so the need for cooperation and collaboration couldn’t be more pressing.”
Enabling progress
That need for cooperation is perhaps the thread running through everything Huseby has to say.
Shipping has always operated in cycles, and uncertainty is nothing new. Drawing on DNB’s long track record in the sector, he believes both the bank and the wider industry have repeatedly demonstrated their ability to navigate periods of disruption.
“Shipping is at the forefront of trade, so we’re always the first to feel these geopolitical and economic shocks, but we’re also a key driver to get through them.”
There’s no hint of complacency, however.
“As an industry we face common challenges and therefore there is a need for common solutions,” he remarks.
“That’s what makes industry events like Nor-Shipping – where we can come together face to face, build understanding and identify shared opportunities – fundamentally important to progress.
“We’re very keen to support that,” Huseby says.
“I’m really looking forward to seeing some meaningful progress at the NEXT Nor-Shipping here in Norway.”
