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Illustration of the CSOVs. Image courtesy Ulstein Verft

Illustration of the CSOVs. Image courtesy Ulstein Verft

Ulstein Secures Order for Wind Farm CSOVs from J.P. Morgan

Mike Schuler
Total Views: 2672
January 5, 2024

Norwegian shipbuilder Ulstein has announced that it has received an order for two wind farm Construction Service Operation Vessels (CSOVs) from institutional investors advised by J.P. Morgan Asset Management.

The order follows a 2023 contract with Bernhard Schulte Offshore for the design and construction of two of the vessels, which included two options for two additional vessels each. The options were subsequently transferred to the institutional investors, who have are now exercising the first two options.

The addition of these CSOVs marks Ulstein’s expansion in the offshore wind maintenance sector.

The CSOVs are equipped with a large walk-to-work motion-compensated gangway, an elevator tower for personnel and cargo transfers, and a 3D compensated crane capable of lifting 5 tons of offshore cargo. With optimized on-board logistics, including ample storage capacities and easy access to offshore installations, these vessels are well-suited for work in challenging weather and sea conditions.

The CSOVs, measuring 89.6 meters in length and 19.2 meters in beam, are based on the ULSTEIN SX222 design platform, which has been tailored to meet the shipowner’s requirements. The vessels will offer accommodation for 132 people, with single cabins available for 110 persons. They will feature hybrid battery propulsion and will be prepared for methanol fuel, enabling carbon-neutral operations.

”The offshore wind industry is an important enabler to achieve the climate goals, and we believe that our fuel-efficient ships will be vital assets in this mission,” said Ulstein Group CEO Gunvor Ulstein.

The J.P. Morgan Global Transportation Group has been investing in the transportation industry since 2010 and actively manages over $8 billion in transportation assets in the maritime, energy logistic, intermodal, rail and aircraft segments.

“We are excited to add to our existing presence in the offshore wind maintenance sector,” commented Andrian Dacy, Global Head of J.P. Morgan Asset Management’s Global Transportation Group.  “These latest technology Construction Service Operation Vessels (CSOVs) will play a critical role in the development and delivery of renewable energy and global energy decarbonization.”

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