CSBC and GeosSea form offshore wind joint venture

CSBC and GeosSea form offshore wind joint venture

Taiwanese shipbuilder CSBC Corporation has entered into a joint venture agreement with marine engineering firm GeoSea, a unit of Belgium’s DEME, to develop business together in the offshore wind market.

The joint venture CSBC-DEME Wind Engineering will tap into the construction of offshore wind farms and related engineering and technical services. CSBC and GeoSea will each hold 50% interest in the joint venture.

In August, CSBC set up an offshore construction and engineering unit in order to meet demand from the growing offshore wind market in the region.

According to CSBC chairman Cheng Wen-lon, there are offshore wind farm projects with an estimated total value of TW$700bn ($23.3bn) waiting to receive approval from the Ministry of Economic Affairs next year, with marine engineering projects accounting for 15%-30% of the total value.

CSBC plans to set up its own fleet by acquiring a wind turbine installation vessel and building two crane barges to start the business. The company is also in talks with Taiwan’s Century Wind Power Company for collaboration in the construction of offshore structures.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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