Thomas Wilhelmsen is hoping to avoid a common shipping trap of over-ordering a promising sector to death.

The Wilhelmsen chief executive told TradeWinds growth will be pursued prudently following Wednesday's announcement of the creation of New Energy, a division bringing together its offshore wind, digital and hydrogen projects.

The group has a target of investing $500m in renewables and decarbonisation over the next five years, with projects being considered either on a stand-alone basis, or with partners.