Marubeni Corp takes control of Seajacks International

For those following the development of the various supply chain industries surrounding the offshore wind industry, Seajacks International are clearly in the top-flight of those with a clear and positive vision of the future direction of the offshore wind industry.

In March 2012, Marubeni Corporation and government-sponsored private equity corporation Innovation Network Corporation of Japan (INCJ) announced that they had agreed to acquire Seajacks International from funds controlled by conventional and renewable energy focused private equity firm Riverstone Holdings. Terms of the transaction were not disclosed but the deal resulted in a 50:50 split for the new owners of Seajacks. INCJ have now sold 5% of their holdings to Marubeni, making the latter the majority shareholder.

Seajacks International have made a significant impression on the increasing numbers of wind turbine installation vessels that have emerged in response to the demand in Europe in recent years. With one eye to the potential future trend predicted by some, should the global appetite for offshore wind takes off, Seajacks will be well placed to respond to what could become a sector with a shortage of vessels. The offshore wind industry in Europe could be just the start of bigger things to come. At the same time, Seajacks have factored in possible alternative eventualities should the road map change, by including a multi-functional capability in their vessels allowing operation in the offshore oil and gas industry.

Seajacks have grown steadily since their fleet of self-elevating, self-propelled, installation vessels first emerged in 2009. Their fleet currently stands at three in service and two under construction (one due imminently), all of the vessels coming from the design stable of Schiedam, The Netherlands based GustoMSC.

Three of the vessels, Seajack Leviathan, Seajack Kraken and Seajack Hydra are based on GustoMSC’s NG2500X design and all build by UAE based Lamprell, another company well-versed in the world of jack-up platforms and rigs. All three are 75m LOA with a main deck area of 900m² and design criteria (North Sea) of 48m maximum water depth. The cranes on each vessel are in the 300t/400t range. Seajacks returned to Lamprell for vessel number four, the larger Seajacks Zaratan an NG5500C design of 108m LOA with an 800t leg-encircling crane.

These four will be eclipsed by the Seajacks Scylla an NG14000X design due in 2015 with 5,000m² of deck space, 8,000t variable load and a 1,500t leg-encircling crane. Seajacks International’s fleet are now a common sight installing wind turbines in European waters and will likely remain so for the foreseeable future.

By Peter Barker