Fred Olsen Acquires Offshore Wind Installation Vessel

Norway-based offshore wind services company Fred. Olsen Windcarrier AS (FOWIC) has agreed to acquire a 51% stake in the owner of the Seafox 5, an offshore wind transport and installation vessel.

By this move Fred Olsen Windcarrier will include this vessel under its commercial, technical and administrative management as an integral part of their fleet of jack-up vessels for offshore wind, said a press release.

Seafox 5 is a multi-purpose, four-legged and self-propelled DP2 jack-up construction vessel with a track record from both the offshore wind market and the oil and gas decommissioning market.

With an overall length of 151 meters and a breadth of 50 meters, Seafox 5 features a 1,200-ton main crane and can accommodate up to 150 personnel. The vessel was built in 2012 and is specifically designed to withstand harsh environment offshore conditions and is capable of operating throughout the year in water depths of up to 65 metres.

Singapore based Keppel Offshore and Marine Ltd. indirectly owns the remaining 49% of the vessel.

“We very much look forward to welcoming Seafox 5 to the Fred. Olsen Windcarrier fleet. Seafox 5 is a highly capable vessel well suited to operate in the deepest waters and towards the most challenging offshore wind farms emerging in Europe, Asia and the US. To us, this marks an important investment and the vessel will be a perfect supplement to our current fleet," said Even Larsen, CEO in Fred. Olsen Ocean, the parent company of Fred. Olsen Windcarrier.

"We believe in offshore wind and this acquisition further strengthens our position in the growing global offshore wind market. For the Seafox 5 we look forward to partner up with Keppel Offshore and Marine Ltd., a highly reputable player within offshore marine solutions,” Even added.

Consequent on this the transaction, Fred. Olsen Windcarrier will be offering a fleet of three modern offshore wind transport & installation vessels, consisting of Seafox 5, Brave Tern and Bold Tern. Seafox 5 will join the fleet within the end of the year, and the first job for the vessel under the Fred. Olsen flag will be the “Hohe See” project in 2019, where she will work side-by-side with the Brave Tern.

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