About Awilhelmsen


Awilhelmsen was first established as a shipowner company in 1939, and has over time developed into an investment company with ownership within Cruise, Real Estate, Shipping & Offshore, Retail and other Industrial Investments.

Financial and Industrial Knowledge

Awilhelmsen seeks investments combining financial and industrial knowledge.

Long-term investment horizon

The Group’s investment horizon is indefinitely, however with an opportunistic approach to timing of sales and acquisitions. Our goal is to deliver a sound basis for further development and growth to next generations of owners.

Quality and Sustainability

We believe high quality is important in all aspects of our business. Awilhelmsen shall be a value-increasing owner with high ethical and environmental standards.

Awilhelmsen today

Awilhelmsen is a family-owned industrial investment company based in Oslo, Norway. Investment decisions and capital allocation is done based on expected return, estimated time horizon and the Group’s total risk profile.

The Group of companies is managed by Awilhelmsen Management AS on behalf of Awilhelmsen AS. The Group’s Chief Executive Officer (CEO) is Sigurd E. Thorvildsen.


Awilhelmsen AS is owned by the Arne Wilhelmsen Family through Awilhelmsen Holding AS (100%).

The Board

The Awilhelmsen AS’ Board of Directors consists of Arne Alexander Wilhelmsen (Chairman), Arild Engh, Finn Jebsen, Jon Erik Reinhardsen and Tellef Thorleifsson.


The Awilhelmsen Group was established in 1939 by shipowner Anders Wilhelmsen.

In 1954 and 1958 respectively, Anders Wilhelmsen’s sons Arne and Gjert entered the company as employees. Both worked in the Group for the rest of their working lives and acted as Directors of the Board until the summer of 2012.

Image Awilhelmsen history
Arne and Gjert Wilhelmsen

Main focus

In the period from 1939 until 1968 all business was shipping related, with main focus on dry cargo, tankers and car transportation. Shipping within different tonnage-categories has always been and still is a part of the Group’s long term strategy, these activities are operated through the fully-owned subsidiary Awilco AS. The delivery of the newbuilt tanker Wilstar in 1967 and its subsequent earnings in a buoyant shipping market lay the foundation for the Group’s further investments and diversification into new business areas.

New areas of business

From the late 1960s the Group chose to diversify into new areas of business. In 1968, Awilhelmsen was part of the establishing of Royal Caribbean Cruise Line (RCCL), which over the years has been developed into becoming the world’s second largest cruise operator. During the whole period, Awilhelmsen has been an active and long-term owner of RCCL, and remains RCCL’s single largest shareholder.

Oilservice industry

From the middle of the 1970s Awilhelmsen has also been active in the oilservice industry, with investments in and operations of supply vessels, diving vessels and shuttletankers – and later also accommodation rigs, FPSO, heavy-lift vessels and drilling rigs.

Real estate market

In the 1990s the Awilhelmsen further diversified by entering the real estate market. This business area is operated through the fully-owned subsidiary Linstow AS. Linstow is one of Norway’s leading real estate companies with particular expertise on development of complex real estate projects, often with long time horizons. The company owns, develops and manages real estate in different segments both in Norway and in the Baltic countries/ abroad.


From the around year 2000, Awilhelmsen was formally redefined from shipping company to investment company, and organized as a Group. Investment in shares and other securities became a larger part of Awilhelmsen’s activities, and with the acquisition of the Nordic consumer electronics retail chain Expert in 2007, the Group diversified into retail. In the shipping and offshore arm of Awilhelmsen, both the rig company Awilco Offshore ASA and the heavylift vessel company Ocean HeavyLift were sold in 2008, while in the in the period 2009-2013 a new rig company, Awilco Drilling, and two new shipping companies, Awilco LNG and Awilco Eco Tankers, were established. In 2015, yet another business area was established, AWC. The primary focus of AWC is capital investments in businesses or assets where the Awilhelmsen Group has distinct competitive advantage.

«Our vision is to be a leading, competence-driven industrial investment company for our owners, employees, owned companies and business partners. Awilhelmsen is committed to being a responsible owner and endeavours sustainable operations in all business areas.»