Partnership sealed: MOL invests in Deutsche Offshore Schifffahrt
- German-Cypriot-Japanese joint venture to develop innovative offshore vessels in the future to become a relevant operator in the global energy market
- Schoeller Holdings Ltd. and MOL agreed on partnership in the order of C-CSOV special vessels
- Deutsche Offshore Schifffahrt to become operator of the C-CSOV fleet
The Japanese Mitsui O.S.K. (MOL), one of the largest shipping companies in the world, is acquiring a stake in the Hamburg-based company Deutsche Offshore Schifffahrt (DO), a joint venture with Schoeller Holdings Ltd. In addition, MOL is acquiring shares in the C-CSOV (Construction Commissioning Service Operation Vessels) currently under construction. The vessels will be marketed in the international offshore energy markets, with Deutsche Offshore acting as operator.
MOL is a globally experienced player with established capacities and strategic partnerships in the offshore energy industry. Deutsche Offshore Schifffahrt will now gain access to this network. Together, the two companies aim to combine their respective expertise and thereby establish a strong platform for the offshore energy market. The joint strategy also includes developing further independent projects using this platform.
As part of the investment, DO enables MOL to leverage on the know-how of the offshore specialist founded two years ago. This includes both the integrative capabilities of Deutsche Offshore Schifffahrt as developer of the innovative C-CSOV vessels as well as the expertise for the subsequent operation of these special vessels.
Four C-CSOV vessels were ordered by Schoeller Holdings, the joint venture partner of Deutsche Offshore Schifffahrt. The C-CSOV vessels are characterized by maximum flexibility in deployment. They expand the use case of the conventional ship type CSOV and thus open up new perspectives for more efficient construction and operation of offshore energy infrastructure. Columbia Shipmanagement, which, like the heavy-lift shipping company “AAL,” belongs to Schoeller Holdings, will provide technical management.
The global energy market is characterized by high demand for support vessels. Europe has taken a leading role in this market and requires many technically sophisticated vessels to support offshore construction projects that have already been approved. Attractive offshore wind markets are also currently emerging in the Asia-Pacific region, and worldwide even traditional operators of offshore energy production facilities see the need for innovative vessels for commissioning, maintenance, and decommissioning.
