Fred Olsen Ocean has agreed to acquire a 50% stake in German offshore transport company United Wind Logistics for €12m.
The Norwegian shipping company’s chief executive Even Larsen said the move will strengthen its work in offshore wind logistics and installation.
UWL, which is based in Hamburg, offers turnkey solutions to clients for the delivery of turbine components and foundations from manufacturing sites to pre-assembly locations.
The company has a building programme for up to four new vessels at the Jiangsu Shipyard in China. Orders for the first two have been placed with delivery due in 2020.
“We are very pleased to team up with FOO and are looking forward to working together,” said UWL founder Lars Rolner.
“Combining our strengths and our expertise within the offshore wind business, we already have identified a number of synergies.”
FOO already owns the Windcarrier installation business and Universal Foundation, which has designed a mono bucket foundation.