Fred. Olsen invests 50% in German offshore wind services provider
Fred. Olsen Ocean Ltd has entered into an agreement to purchase 50% stake in Hamburg-based United Wind Logistics GmbH (UWL), which offers transport solutions for offshore wind turbine components from manufacturing sites to pre-assembly ports.
Fred. Olsen is contributing EUR12 million (US$13.5 million) in new equity in exchange for the UWL interest.
UWL is engaged in the transportation of wind turbine blades, nacelles, and towers from nearby manufacturing sites to pre-assembly ports. It currently performs these operations with chartered tonnage and has a new building program for up to four vessels at the Jiangsu Zhenjiang Shipyard in China. The first two of the vessels are expected to be delivered in 2020.
Country updates
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