Pelagic Partners expands into Offshore Wind segment with third compartment
As part of its third compartment under the name “Pelagic Wind Fund”, Pelagic Partners has secured a series of 2+2+2 newbuild orders for Commissioning Service Operation Vessels (‘CSOVs’) at Cochin Shipyard in India. The order has a value of over 350m Euro and the vessels are expected to be delivered in Q1 2025, as mentioned during the signing agreement that took place today in Cochin, India where executives from Pelagic Partners, Pelagic Wind Services and Cochin Shipyard launched the new partnership.
Based on Kongsberg’s UT 5519 HL-design, the purpose-build CSOV’s design and equipment are carefully selected from mainly European best-in-class makers to build the most environmentally friendly vessels of this type seen to date: Zero emission capabilities are already integrated through dual fuel engines and hybrid propulsion. The vessels’ superior hotel facilities and attention to onboard logistics allows for increased efficiency and a healthy working environment, providing a safe and attractive workspace for the Offshore engineers
Further to the assets, Pelagic Partners has established Pelagic Wind Services (PWS) which will be the exclusive Commercial and Technical Manager for the fleet. Managing Director of PWS, Andre Groeneveld, states: “The newbuild vessels have major differentiating points such as a significantly increased DP capability, highly efficient Methanol-ready genset and a fully electric autonomous gangway with large crane capacity. These assets will allow us to make a huge step towards our overall aim to become the leading provider of sustainable services for the Renewables sector with a zero-emission footprint from A to Z.”
Established as a dedicated platform to serve the Offshore Wind sector, the Pelagic Wind Fund aims to add further second-hand assets to the fleet to become a key player in this growing industry. Dr Niels Hartmann, one of the Founding Member of Pelagic Partners, says: “It is exciting for us to enter into this new segment of cutting-edge, truly green Offshore Wind Supply Vessels. We are convinced to enter this market at a good time and to be able to position ourselves as a key player and trusted partner for the Offshore Wind industry.”
About Pelagic Partners
H.M. Pelagic Partners Ltd., founded by Dr Niels Hartmann and Atef Abou Merhi, is registered and incorporated under the Laws of Cyprus with Registration Number HE 424510 and authorized by the Cyprus Securities & Exchange Commission (“CySEC”) to operate as an Alternative Investment Fund Manager with License Number AIFM43/56/2013. H.M. Pelagic Partners Ltd. is authorized to provide collective management services to Alternative Investment Funds in accordance with the Alternative Investment Fund Managers Law of 2013. The founders, who are anchor investors and long-term ship owners, are managing the biggest shipping portfolio in Cyprus.
About Cochin Shipyard Ltd
Cochin Shipyard Ltd (CSL) is the largest commercial shipbuilder in India. CSL’s rich experience and proven track record in construction of a number of high end offshore support vessels for European clients coupled with its recent delivery of Zero Emission Autonomous Cargo Ferries to Norwegian client ASKO, positioned it as the yard of choice for the client for placing this order for CSOVs. The yard is also active in the short sea shipping sector with current orders for 8 vessels for a Germen client.