Fred. Olsen Ocean Sells Its Stake in United Wind Logistics

Fred. Olsen Ocean has entered into an agreement to sell its 50 per cent stake in United Wind Logistics (UWL) to United Heavy Lift. The Norwegian company, a wholly owned subsidiary of Bonheur ASA, acquired the 50 per cent ownership in UWL through the contribution of new equity in the amount of EUR 12 million back in 2019.

Fred. Olsen Ocean is selling its share of the company for EUR 48.5 million. Including a repayment of shareholder loans, the gross proceeds from the divestment will be approximately EUR 51.2 million, with closing expected on 30 April 2025, Fred. Olsen Ocean said on 20 March.

Hamburg-based UWL has a fleet of three deck carriers and provides transport solutions for offshore wind turbine components from manufacturing sites to pre-assembly ports.

In 2020, United Wind Logistics took delivery of two deck carriers on long-term charters with Vestas (MHI Vestas at the time), MV BoldWind and MV BraveWind, both built at Jiangsu Zhenjiang Shipyard in China.

The third vessel UWL operates is MV Vestvind, a deck carrier built in 2016, which was also under charter with Vestas (MHI Vestas) for the Walney Extension wind farm in the Irish Sea.

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