MOL Forms Another Offshore Wind Pact

Japan’s Mitsui O.S.K. Lines (MOL) and Toyo Construction have signed a Memorandum of Understanding (MoU) to evaluate potential collaboration with the aim of commercializing vessels used in the construction of offshore wind projects in Japan and overseas.

The companies said they will meet the demand for various types of work vessels in offshore wind power projects in Japan and overseas by combining MOL’s track record in construction, ownership, and operation of vessels with Toyo Construction’s knowledge of marine engineering and technological development in offshore wind power.

MOL is one of the largest ocean shipping companies in the world. Last year, the company established a business division dedicated solely to offshore wind.

MOL has since then signed an MoU with Kokusai Cable Ship (KCS) to jointly research commercial opportunities in new subsea cable-laying demand in Japan and throughout Asia.

The company has also partnered with Scotland’s Flotation Energy plc. to jointly evaluate floating offshore wind development opportunities in Japan.

Toyo Construction is a Tokyo-based marine contractor which has set offshore wind power as a growth driver of its business, focusing on technology development and capital investment in fixed-bottom as well as floating wind turbines.

Together with MODEC and Furukawa Electric, Toyo Construction is developing a floating wind platform and a mooring system for the next-generation wind turbines. The project is scheduled to be completed in March 2022.

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