Fred. Olsen Ocean (FOO) has entered into an agreement to acquire a 50% ownership in United Wind Logistics (UWL) through the contribution of new equity in the amount of € 12 million.
UWL is a Hamburg (Germany) based company offering transport solutions within marine transportation of various offshore wind turbine components such as blades, nacelles, towers and foundations from manufacturing sites to pre-assembly ports closer to offshore wind farm sites on a world-wide basis. The operations of UWL are presently performed with chartered tonnage. UWL has a new building program for up to four vessels at the Jiangsu Zhenjiang Shipyard in China, of which the first two vessels have been ordered and are expected to be delivered in 2020.