Menon Economics has for nine consecutive years studied the competitiveness of the Blue Maritime cluster, measured by key economic performance, both in absolute terms and compared to the rest of the maritime industry in Norway. In this year’s report, we take a closer look at how maritime companies work to attract, develop, and retain talent within the cluster.

We find that the overall revenue among the maritime companies in the Møre og Romsdal region has increased from 2022 to 2023 and is expected to further increase in 2024 and 2025. The equipment suppliers remain the main driver behind the revenue growth. In terms of market segments, offshore wind remains the largest segment for the cluster, consistent with last year. This is primarily driven by shipyards offshore wind activity and revenues from equipment suppliers. Since 2020, the cluster has experienced a trend of increasing optimism in terms of profitability outlooks. The reasons for the increased profitability expectations are multifaceted and are closely related to the market development and the trends affecting the industry. Global factors such as geopolitical disruptions to trade patterns and tightening emissions regulations are significantly impacting the maritime industry, including the cluster in Møre og Romsdal.

The maritime cluster is experiencing an increasing need for labor across various disciplines.  Although the current demand for additional employees is relatively low, it is expected to rise significantly within the next five years. Additionally, the majority of the respondents report that their company requires employees with different skills than those currently possessed, primarily due to expansions into new market segments, the adoption of green technologies, and increasing automation. While the overall results indicate a need for all types of workers, additional results highlight a particular need for skilled workers. Most respondents expect this need to grow over the next five years. This need reflects the broader national picture, in which demand for labour, and particularly for skilled workers, is expected to exceed the available supply. Currently, limited access to qualified candidates and high salary demands are perceived as the largest barriers against recruiting competent workers among the responding companies. To address these challenges, companies are implementing various strategies to enhance their attractiveness as employers. 

Read the report here.