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After Schulte, J.P. Morgan joins Ulstein with CSOV

Most recently, the Hamburg shipping company Schulte was a customer of Ulstein Verft. Now an investor, J.P. Morgan, has knocked on the door and ordered two CSOVs.

The two Construction Service Operation Vessels (CSOV) ordered by J.P. Morgan are to be equipped with a hybrid battery propulsion system and prepared for green methanol fuel in order to enable climate-neutral operation at a later date. In addition to the two firm orders, options have been agreed for two further vessels, Ulstein announced. [ds_preview]

Last year, Bernhard Schulte Offshore also ordered two such ships, plus 2+2 options. These options have now been transferred to institutional investors represented by J.P. Morgan.

US capital enters the offshore market with CSOV

“We are excited to expand our existing presence in the offshore wind maintenance sector,” commented Andrian Dacy, Global Head of J.P. Morgan Asset Management’s Global Transportation Group. The US investor manages more than US$8 billion of assets through its transportation division in the maritime, energy logistics, intermodal, rail and aviation segments.

The ships are equipped with a large, centrally located, motion-compensating gangway and an elevator tower for transporting personnel and freight. A crane capable of lifting 5 tons is also installed. The optimized logistics on board include large storage capacities. The ships have a length of 89.6 m and a width of 19.2 m. In total, the ships offer space for 132 people.

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