Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto, Headquarters: Minato-ku, Tokyo) has decided to jointly own two Commissioning Service Operation Vessels (CSOVs) (Note) with Schoeller Holdings Ltd., a Cyprus-based global shipping company, with delivery scheduled in 2027. MOL has also decided to make an investment in Deutsche Offshore Schifffahrt, a Germany-based offshore energy vessel developer and commercial operator, which will operate the vessels. Through this project, MOL will participate in the offshore wind support vessel business in Europe for the first time, following our SOV business in Taiwan.
Offshore wind power is positioned as a key pillar of medium- to long-term energy policy across Europe, supported by strong policy measures. Large-scale offshore wind projects continue to expand in the region, and demand for CSOVs is expected to grow further.
MOL group aims to achieve net-zero emissions by 2050 and is promoting a transformation of its business portfolio by increasing the share of non-shipping businesses that are less susceptible to shipping market volatility, thereby securing profitability even during downturns in the shipping market. Under this policy, this project represents an important milestone in expanding MOL's offshore wind-related business from Asia into Europe. Going forward, MOL will continue to strengthen businesses that contribute to GHG emission reductions, support the realization of a decarbonized society, and pursue sustainable growth and enhanced corporate value through a strengthened earnings base.
What is a Commissioning Service Operation Vessel (CSOV)?
CSOV has accommodation for windfarm technicians, allowing it to stay offshore for extended periods of time. The vessel is to be operated from the construction phase through commissioning and up to just before commercial operation begins, it will be equipped with a higher capacity crane and a larger working deck space. It is equipped with a Dynamic Positioning System (DPS) to continuously ensure a safe distance between the vessel and the offshore wind turbine platforms, and via its "Walk to Work" gangway with a motion compensation function (absorbing hull movement due to wind and wave action and so on), it allows the technicians to walk safely between the vessel and the wind turbines. Additionally, this CSOV is unique due to its 50T crane and large deck space, and can provide light construction and decommissioning services in O&G.
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