Investment and asset manager MPC Capital and offshore specialist OS Energy have partnered to build a fleet of offshore service vessels (OSV).
They have commissioned the construction of a first vessel at the Danish Esbjerg Shipyard early November and have secured the option for five further units.
These purpose-built vessels will be used primarily in offshore wind farms in the North and Baltic Seas to carry out services such as subsea inspections, environmental and seabed surveys and supply of equipment.
Delivery of the first vessel is expected in the first half of 2026.
The total investment volume of the newbuilding series of six vessels is around €130m, with MPC Capital and OS Energy participating as anchor investors.
Debt financing for the first vessel under construction is being provided by Ostfriesische Volksbank, Leer.
Furthermore, credit committee approval by a first-class export credit agency (ECA) has already been obtained for the transaction.
Constantin Baack, CEO of MPC Capital, said: “This project offers significant potential for MPC Capital to expand into a new and highly exciting sector. As with other infrastructure investment themes, we see offshore services as a structural growth area where we can combine our maritime expertise with our long experience in renewable energy projects.
“Demand for service vessels that meet the latest technological and environmental requirements is set to grow significantly, and there are currently no comparable vessels available in the market.
“This imbalance creates great opportunities for us and our investors.”