NYK establishes offshore wind CTV joint venture

Japan’s Nippon Yusen Kaisha (NYK) has launched a crew transfer vessel shipmanagement joint venture for domestic offshore wind projects.

The jv company Japan Offshore Support (JOS), in which NYK will hold a 51% stake, has been established with local towing player Akita Eisen Kisen Kaisha, following a memorandum of understanding for CTV operations mainly in the waters off Akita prefecture in 2021.

NYK has been working with Akita prefecture since 2022 in a wide range of fields, including the promotion of renewable energy projects and the development of related human resources.

JOS will be mainly responsible for the maintenance and management of CTVs as well as training and employment for seafarers.

“By leveraging the experience of operating ships at Ishikari Bay New Port in the offshore shipping and offshore wind power businesses, the knowledge gained from partner and CTV operator, Northern Offshore Service, and the foundation and know-how of Akita Eisen KK as a local company, we will provide safe, efficient, high-quality services on an ongoing basis and contribute to the stable supply of electricity from offshore wind power generation in Japan,” NYK said.

Demand for CTVs in Japan is expected to grow, with offshore wind buildout set to start in earnest around 2026. NYK said last year it plans to invest more than $280m in the sector by that time, including contracting more CTVs at shipyards in Japan.