View from the top: Mike Pettigrew, CEO, ASCO

You’ve been ASCO CEO for nearly two years – what has this role, in this sector, at this time, taught you about leadership?

I’ve spent my entire career in critical engineering environments – from power and aerospace to ship design and build – so I was already convinced of the importance of ‘on-time’ materials management and logistics as an enabler of success. What I learned at ASCO, however, was that both our clients and even our own people didn’t always fully appreciate the value they delivered.

My role in ASCO has been less about process assurance and governance, and more about vision and inspiration. By painting a clear picture of what the future could look like, I’ve seen our incredibly talented team create their own roadmap to get us there.

What growth strategies are working best for ASCO in today’s challenging market?

It’s not just one thing but a blend of deep experience, strong customer relationships and, most importantly, highly skilled people. Oil and gas remains at the core of our heritage and will be a critical part of our future, but we recognise the need to adapt and apply our proven capability in new sectors and geographies.

We don’t just identify opportunities – we have the capability to execute them. We’re the brains and the boots

We’ve recently had success in Norway (metals) and Canada (pulp and paper), and we’re continuing to make inroads into other diverse markets. Our focus is on enabling critical, always-on industries to operate more effectively, efficiently and safely – the industry they are in is almost immaterial.

How has ASCO’s international investment strategy evolved in response to changing energy demands?

We’ve been steadily increasing our investment in global expansion – and this isn’t a recent pivot, it’s been central to our strategy for years. Over the past three to four years, we have entered new markets such as Senegal and Suriname, while strengthening our presence in the UK, Australia, Norway and Canada. Looking ahead, Africa, the Middle East, the US and the Caribbean are firmly on our radar as major growth regions.

At the Top: Mike Pettigrew

Mike Pettigrew became CEO of ASCO in October 2023, following rapid progression through senior roles since joining in January 2022. Initially General Manager for its shipping agency and freight management services, he moved into the role of UK Managing Director later that year. With more than 20 years’ experience across defence, oil and gas, marine, power, nuclear and engineering, Mr Pettigrew previously spent 13 years at Babcock and served for three years as a non-executive board member at Decom North Sea.

How is ASCO different from other freight and logistics companies? 

First and foremost, ASCO is not just a freight and logistics company. We’re a diversified services business; freight and logistics is just one part of our integrated offering.

What sets us apart is our ability to balance the pragmatic and practical skills of a traditional logistics operator with the thought leadership and innovation of a specialist consultancy. We don’t just identify opportunities – we have the capability to execute them, too. We’re the brains and the boots, if you like.

Ultimately, it all comes down to our people. Their capability is what truly differentiates us and is what I’m most proud of.

ASCO is winning awards for sustainability – why is this important to you?

At ASCO, sustainability is not just about environmental credentials or our commitment to net zero by 2040. Sustainability is about ensuring that we are responsible custodians of the business, building a business with a long-term and prosperous future for our people, their families and the communities in which we operate.

Our annual Sustainability Report is not simply a reflection of our net-zero-focused activities; it is, in essence, a complete picture of our business. It’s become an industry-leading publication, recognised by clients and industry bodies.

Net zero seems to be in jeopardy, at least in some parts of the world. How is ASCO approaching this?

I don’t believe net zero is in jeopardy in the long-term. Geopolitical shifts are inevitable, and it is important that the long-term move towards a carbon-free future is not lost in the current noise and polarised debate.

While new energy is an important area of diversification for us, it’s not the only one. It would be myopic to assume that a business rooted in oil and gas can only segue into new energy. The skills, capability and mindset developed in the most challenging environments in the world, offshore oil and gas, are second to none. Companies that cut their teeth in this industry have a huge amount to offer across a range of critical industries.

Global freight has been at the forefront of global geopolitics and the pandemic for the past five years or more – either able to take advantage, or being battered by market headwinds. Does 2025 look any more stable and investable?

This year doesn’t feel any more stable than recent years – even with the pandemic now in the rearview mirror. That said, most of ASCO’s operations are intra-market, and therefore not overly affected by global freight dynamics. However, the knock-on effect is real: market volatility increases project costs for our clients, which in turn delays final investment decisions and subsequent work for ASCO.

Is world trade and trust between countries and companies now harder to broker than in recent times? How do you navigate these times?

At a government level, yes. However, we are not seeing evidence of this at company level. All businesses are just trying to navigate global challenges. Where there’s opportunity for collaboration and mutual benefit, politics tends to take a back seat.

Freight companies are barometers of trade health and prosperity in some ways. Which sectors and regions are doing best right now, from what you see, and which are struggling?

ASCO isn’t a freight company in the traditional sense – we are not a mass-market shipper of goods. That said, in the UK, oil and gas has taken a significant hit from successive governments. The same is not true in other geographies. New energy, in particular offshore wind, has also been dealt a blow, with a number of major operators adjusting their strategic focus. While this has perhaps delayed progress, we still believe there is a significant market to target in the long-term.

With new energy markets opening, how do you assess market readiness? What major factors determine whether ASCO enters a new market?

When identifying new markets, our initial approach is to identify major industry trends and broad market intelligence. We then look at the latent capability in those markets to identify if we have a strategic or competitive advantage. Establishing a presence early pays dividends. This can be a tough decision because you have to start spending money and committing prized resources – people – long before any expectation of revenue. This was certainly the case for us in Senegal in 2018–19, and is now the case in Namibia.

The makeup of potential customers is also very important. Ideally, we’re invited in by an existing client that is expanding into a new market – for example, bp in Trinidad 25 years ago, and TotalEnergies in Suriname in 2023. Ideally, we look for markets where our presence is not entirely linked to one customer or one project.

Breaking into new markets is never easy – what’s the biggest risk ASCO is taking right now, and why is it worth it?

Namibia is our biggest calculated risk right now. In 2024, we decided to relocate our Africa MD, Alisdair Duncan, from Dakar to Windhoek. This comes with significant cost and no cast-iron guarantee of business. However, we believe that Namibia will finally fulfil its potential as a major offshore and onshore energy hub. ASCO has a unique capability to help the operators, Tier One contractors and the Namibian government in maximising the opportunity.

What global partnerships or collaborations are helping ASCO to stay ahead in the competitive freight and logistics sector?

It stands to reason we would say that EIC is an important partner in providing opportunities for ASCO globally. On a broader scale, we are very open to forming strategic partnerships and relationships with companies that bring complementary skills, and even, in some instances, partnering with companies that would traditionally have been seen as our competitors.

Looking ahead, what are the biggest challenges and opportunities for ASCO in 2025 and beyond? And how is ASCO positioning itself to stay ahead of the curve?

This year looks set to be an interesting one. Geopolitical issues are creating a great deal of turmoil in many markets, but you should never pass up the opportunity presented by a good crisis. Our ability to adapt and thrive has been proven time and again.

The ASCO team has already shown that it can break into new markets and expand into new sectors. That ambition and adaptability will serve us well in the years to come.

Image credit | Graham Dargie