MOL sets sights on offshore wind vessels

Japanese shipping giant Mitsui OSK Lines (MOL) has teamed up with compatriot marine contractor Toyo Construction to evaluate potential collaboration on commercialising vessels related to offshore wind power projects in Japan and overseas.

Installing larger offshore wind turbines could become a challenge for operators as demand will outstrip the availability of suitable vessels by 2024, Rystad Energy warned earlier this month. “Vessels built earlier this decade are already becoming obsolete as turbine technology advances, making owners hesitant to commit to costly newbuilds that may become outdated before they are profitable,” Rystad noted.

The two companies said they plan to meet the demand for various types of ships in the offshore wind sector by combining MOL’s track record in construction, ownership, and operation of vessels with Toyo Construction’s knowledge of marine engineering and technological development in offshore wind power.

Since the establishment of a dedicated offshore wind business last year, MOL has been growing its marine renewables footprint. Japan’s largest shipowner by fleet numbers has recently moved to evaluate floating offshore wind opportunities in the country in a partnership with Flotation Energy, building on the 2 GW portfolio of offshore wind floater projects the Edinburgh-based developer has in Japan. The company is also looking into other offshore renewables through its partnership with ocean energy tech developer Bombora Wave Power and has signed a memorandum of understanding with compatriot Kokusai Cable Ship (KCS) to work together on the installation of offshore wind power cables.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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