MOL makes first OSV move, teams up with Kristian Røkke

MOL makes first OSV move, teams up with Kristian Røkke

The world’s largest shipowner by fleet numbers is moving into the depressed offshore vessel support field. Japan’s Mitsui OSK Lines (MOL) is teaming up with trading house Mitsui & Co and Norway’s AKOFS Offshore to purchase the subsea support vessel Skandi Santos from DOF Subsea. AKOFS is one of Norwegian tycoon Kristian Røkke’s many offshore ventures.

Brazilian energy major Petrobras has chartered the OSV.

“The project is MOL’s first step into the subsea business, where the company expects stable demand and steady earnings through the overall lifecycle of oil and gas projects—from survey of subsea oil and gas fields, to installation, inspection, maintenance, repair, and decommissioning of subsea facilities,” MOL said in a release today.

Further vessel acquisitions are likely, MOL said.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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