JP Morgan signs contract for potential four CSOVs

The contract is for an initial two CSOVs with an option for another two, and they will be equipped with hybrid battery propulsion systems as well as being prepared for green methanol as a future fuel, Ulstein says.

The ships have a large, centrally positioned walk-to-work motion-compensated gangway and elevator tower for personnel and cargo transfers along with a 3D compensated crane capable of 5 tonne cargo lifts.

They have a length of 89.6m and a beam of 19.2m and can accommodate 132 people.

“We are excited to add to our existing presence in the offshore wind maintenance sector,” commented Andrian Dacy, Global Head of J.P. Morgan Asset Management’s Global Transportation Group. He added, “These latest technology Construction Service Operation Vessels (CSOVs) will play a critical role in the development and delivery of renewable energy and global energy decarbonization.”

”The offshore wind industry is an important enabler to achieve the climate goals, and we believe that our fuel-efficient ships will be vital assets in this mission,” states Ulstein Group CEO Gunvor Ulstein.

Banking giant JP Morgan also carries out ship management, crew management, education and training of seafarers, technical services and commercial operations around the world.

Ulstein is headquartered in Ulsteinvik, Norway.