Fred Olsen, Teekay to jointly design new offshore wind vessel

Offshore renewables specialist Fred. Olsen Ocean AS has agreed to set up a joint venture with Teekay Offshore Partners LP (NYSE:TOO) to design a new vessel specifically for the offshore wind market.

The pair will develop a vessel that makes use of Teekay’s existing HiLoad maritime technology and allows technicians to access wind turbines in higher sea states at a lower cost. Sea trials are scheduled to start in the beginning of 2017.

The team that will engage in this initiative will be led by John Andersen, vice president of business development at Fred. Olsen Windcarrier, a subsidiary of Fred. Olsen Ocean.

The planned new vessel will fill “the gap between crew transfer vessels (CTVs) and service operations vessels (SOVs) in the offshore wind space,” Andersen said.

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