Investment and asset manager MPC Capital and offshore specialist OS Energy have partnered to build a fleet of next-generation offshore service vessels. These purpose-built Offshore Survey and Service Vessels (“OSSV”) will be used primarily in offshore wind farms in the North and Baltic Seas and will set new standards in versatility, environmental sustainability and energy efficiency. The modern design makes them suitable for a wide range of services such as subsea inspections, environmental and seabed surveys and supply of equipment.
Constantin Baack, CEO of MPC Capital AG: “This project offers significant potential for MPC Capital to expand into a new and highly exciting sector. As with other infrastructure investment themes, we see offshore services as a structural growth area where we can combine our maritime expertise with our long experience in renewable energy projects. Demand for service vessels that meet the latest technological and environmental requirements is set to grow significantly, and there are currently no comparable vessels available in the market. This imbalance creates great opportunities for us and our investors.”
MPC Capital and OS Energy have commissioned the construction of a first vessel at the Danish Esbjerg Shipyard early November and have secured the option for five further units. Delivery of the first vessel is expected in the first half of 2026. The total investment volume of the newbuilding series of six vessels is around EUR 130 million. MPC Capital and O.S. Energy will participate as anchor investors. Debt financing for the first vessel under construction is being provided by Ostfriesische Volksbank, Leer. Furthermore, credit committee approval by a first-class export credit agency (“ECA”) has already been obtained for the transaction.
Offshore wind farms will make a significant contribution to the energy transition, and European countries in particular have set ambitious targets for expanding their offshore wind capacity in order to increase the share of renewable energy. The production capacity of offshore wind turbines in Europe is expected to increase by more than 20% per year until 2033.
As a result, the demand for service vessels, which are used for analysis, construction, commissioning, maintenance and decommissioning, will also increase significantly. At the same time, the regulatory and company-specific requirements for the technical and sustainability specifications of the vessels used over the 20 to 25-year life cycle of an offshore wind farm will also increase. Ships currently available are not expected to meet these existing and forthcoming requirements.
Together with Esbjerg Shipyard, OSK Design and industry partners, OS Energy and MPC Capital have developed a tailor-made design that reflects the future requirements of the offshore wind industry. The highly efficient vessels will be equipped with propulsion technology that enables CO2-neutral operation and thus meets the highest ESG requirements. The equipment will include a “Moon Pool” for subsea inspections and hydrographic surveys, a scalable 400 kWh battery storage system and a dynamic positioning system in accordance with the DP-2 standard. Further information can be found on the project website www.mpc-ose.com
Typical charterers are from the energy industry, research institutes as well as public authorities and offer diversified revenue potential. The fleet deployment strategy will be a mix of long-term charters coupled with multi-year contracts and shorter-term deployments to take advantage of seasonal demands.
Constantin Baack: „With O.S. Energy, we have a specialist partner who has been serving the market for offshore service vessels for over 20 years. OSE brings its long-standing relationships with industry leaders and decades of proven commercial and technical management experience to the project. We are very much looking forward to successfully building our joint platform.”
Vincent Nürnberg, Managing Director of O.S. Energy GmbH: “We have been operating a fleet in offshore wind farms for many years. Through the regular exchange of experience with our customers, we have now jointly developed a new generation of emission-free, flexible and reliable vessels. With MPC Capital, we have a partner at our side who supports our growth plans and creates valuable synergies with its maritime network.”
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