Mitsui O.S.K. Lines, has decided to jointly own two Commissioning Service Operation Vessels with Schoeller Holdings 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 realisation of a decarbonised society, and pursue sustainable growth and enhanced corporate value through a strengthened earnings base.
Source: cyprusshippingnews.com
