Navigare Capital enters offshore wind support vessel segment

Navigare Capital Partners has made its first investment in the offshore wind support vessel segment. 

The Copenhagen-based alternative investment fund manager, which has containers, bulkers, tankers and LNG carriers in its portfolio, has partnered up with the Norwegian shipowning company Norwind Offshore, established by Farstad, Volstad and Kleven, to invest in four of its newbuild commissioning service operation vessels (CSOVs) and one service operation vessel (SOV).

All vessels will be built by Fincantieri-controlled Norwegian shipbuilder Vard, with CSOVs delivering between 2023 and 2025, while the SOV is a conversion and sale of one of Vard’s platform supply vessels that should deliver this year.

The investment has been made by Navigare Capital’s Maritime Investment Fund II and is said to be part of the company’s commitment to a “green and sustainable transition of the shipping sector, and towards net zero emissions.” The vessels are equipped with battery-hybrid propulsion, power management systems, and shore power connectors to enable emission-free operation in ports and offshore fields, where possible.

Managing partner of Navigare Capital, Henrik Ramskov, said: “The investment in offshore wind support vessels is an important next step in our strategy for net zero emissions and our commitment to achieving this. Through our majority investment in the partnership with Norwind Offshore and the highly skilled team and founders behind it, we believe that this investment will both support our accelerating efforts to reach net zero and generate an attractive return for our investors.”