NYK Concludes Bareboat Charter Contract with Northern Offshore Group

Photo courtesy of NOG
Photo courtesy of NOG

Published May 4, 2021 8:40 PM by The Maritime Executive

NYK and Northern Offshore Services AS (NOS), a subsidiary of the Sweden-based Northern Offshore Group AB (NOG), have concluded a bareboat charter contract* for a crew transfer vessel (CTV)** to service offshore wind farms.

The CTV, which is named “Energizer,” is owned by NYK and will be chartered to NOS through a 10-year bareboat charter contract* to transfer crews to offshore wind power stations, mainly in Europe, under the operation of NOS.

NYK has additionally agreed to dispatch its engineers to NOS to participate in operations and ship management in Europe, a leading region in the offshore wind power business, in preparation for the development of the CTV business in Japan.

NOG operates over 60 CTVs in the offshore wind power market in Europe, and NYK and NOG signed an MoU in December 2019 to explore a CTV business related to offshore wind power generation. This bareboat charter contract is a partial development of that MoU and will be the first CTV owned by NYK, which will continue its efforts to contribute to the spread of offshore wind power generation through the CTV business in cooperation with NOG.

Energizer is a state-of-the-art CTV developed by NOS. It is equipped with a large-capacity battery that can be recharged from a power generation facility and can be switched to hybrid mode to reduce fuel consumption and emissions, thus contributing to a reduction of the vessel’s environmental impact.

The Japanese government has set a goal of reducing greenhouse gas emissions to zero by 2050. In particular, offshore wind power generation is one of the areas where market expansion is most expected, with the aim of installing stations capable of producing 30–45 million kilowatts by 2040 as an important source of future electricity. A CTV would fulfill the important role of transporting workers between offshore work site facilities and onshore locations during the installation and operation of offshore wind turbines.

On February 3, NYK released the NYK Group ESG Story, which aims to further integrate ESG into the company’s management strategy and promotes activities that contribute to the achievement of the SDGs (Sustainable Development Goals) through business activities, including the offshore wind business. To strongly promote ESG management, the NYK Group will encourage new value creation as a sustainable solution provider through a business strategy that includes efforts to contribute to the renewable energy business in Japan and overseas.

The products and services herein described in this press release are not endorsed by The Maritime Executive.