06/29/2021

Fred. Olsen Ocean partners with Shimizu to drive progress within the Japanese offshore wind sector and worldwide

Fred. Olsen Ocean (FOO), including its subsidiaries Fred. Olsen Windcarrier (FOWIC) and Global Wind Service (GWS), is announcing a partnership with Shimizu Corporation (Shimizu) to support growth and development in the offshore wind industry in Japan and worldwide.

The partnership between these organizations marks an important milestone as it brings together FOO's specialist knowledge, experience and capabilities as a global leader in offshore wind turbine installations, and Shimizu’s leading strengths in construction activities and in-depth knowledge of the Japanese market. Together, the combined expertise, experience, assets, and related supply chains of these two organizations will be valuable for the development of offshore wind.

Japan has ambitious targets to develop 10 GW of offshore wind power by 2030. As a clear indication of their commitment to help reach these goals, Shimizu will take delivery of its own jack-up installation vessel in late 2022.

Under this partnership and exclusivity agreement, FOWIC will be the leading partner for installation projects involving Shimizu’s vessel outside Japan, whereas Shimizu will be the leading partner for installation projects within Japan. With a deep understanding of operating jack-up installation vessels, FOWIC will support Shimizu with the planning and execution of upcoming offshore wind project installations in Japan and support with training of key personnel for safe and efficient operation. FOWIC and GWS will be the preferred suppliers for Shimizu with FOWIC supplementing Shimizu vessel capacity in Japan when needed. For markets outside Japan, FOWIC will represent and market the Shimizu vessel. 

Alexandra Koefoed, Chief Executive Officer of Fred. Olsen Windcarrier, commented: “We are very pleased to be working with such a renowned organization as Shimizu, and excited to be playing such an important role in Japan’s renewable energy sector. There is great potential not only in the partnership of our two businesses, but also in what we can offer to the offshore wind industry.”

Toru Yamaji, Vice President of Shimizu, said: “We could not have chosen a better partner to further our capabilities in the Japanese offshore wind market, and abroad. Together, Fred. Olsen Ocean and Shimizu will offer a breadth of specialist knowledge, assets and services for wind farm developers worldwide.”

About Fred. Olsen Ocean

The Fred. Olsen-related companies date back to 1848 and builds on more than 170 years of industrial innovation. FOO’s main activities relate to a variety of operations, services and products in both onshore and offshore wind and technical marine services. FOO is the parent company of Fred. Olsen Windcarrier, Global Wind Service and United Wind Logistics. Fred. Olsen-related companies employ more than 2000 people within renewables and have in depth experience from offshore wind. FOO is wholly owned by the Norwegian stock listed company Bonheur ASA.

About Fred. Olsen Windcarrier

FOWIC is a market leader within transport and installation of offshore wind turbines, having an industry leading fleet and have installed 20% of all offshore turbines globally to date (excluding China). A new crane upgrade program for its existing 3 vessels has been initiated and will, when completed in 2024/25 secure a fleet able to cost efficiently install both 13-15 MW turbines coming to the market in 2024/25, but also bigger turbines. In addition, FOWIC aims to construct a fourth vessel to supplement existing fleet and continuously work to optimize the long term financial structure of the company. The company has offices in Oslo - Norway, Fredericia - Denmark, Hamburg - Germany, and Taipei - Taiwan.

About Global Wind Service

GWS is the leading global project partner for complete wind turbine services. Its services cover offshore and onshore wind, and include installation and pre-assembly, high voltage, O&M, blade inspection, repair, repowering and life extension.

About Shimizu Corporation

Shimizu Corporation is an architectural, civil engineering and general contracting firm. It had an annual sale of 1,456 billion Yen in FY 2020. Shimizu Corporation has branch offices in Asia, Europe, North America, Middle East and Africa. It is listed in Tokyo and Nagoya stock exchanges and a constituent of Nikkei Index. The business areas for Shimizu are Building Construction, Civil Engineering, Oversea Construction, Engineering Business, Real Estate Development and LCV (Life Cycle Valuation). Shimizu is building one of the largest jack-up installation vessels with a 2500t crane for offshore wind construction and it will be delivered in late 2022.