French SOV/CTV owner Louis Dreyfus Armateurs seeking potential investor

The family-owned company, which was recently selected by Vattenfall to build, own and operate up to three service operation vessels (SOVs) under long-term contracts, told OWJ, “LDA shareholders have decided to open the capital of the company to a new investor, up to a majority stake. Offers have been received and are currently under review.”

The company said it would  not comment further on the ongoing competitive process. However, reports in the French media suggest that private equity companies and another leading owner, Sogestran Group, are understood to be among the parties bidding to take control of the family-owned shipping firm, which is run by a supervisory board and executive board  headed by president, Edouard Louis-Dreyfus.

The French company has a lengthy history extending over more than 170 years, specialising in high-end vessels and in providing customised solutions to its clients. It provides a wide range of services including logistics and transportation, including port management, transshipment, cargo handling and heavy lift; submarine cable-laying and maintenance; and services in the renewable energy sector, including vessels such as SOVs and crew transfer vessels (CTVs).

In mid-2024, LDA ordered two  CTVs, to expand its fleet from five to seven vessels, a decision prompted by the rapid pace of expansion of the offshore wind sector, with numerous offshore windfarms being developed in France, with more projects planned. Speaking at the time that the CTVs were ordered, LDA renewables manager Gaël Cailleaux said the contracts were part of a strategy to expand its offshore renewables business in France and Europe. In March 2024, the company said it was developing a liquid hydrogen-powered commissioning service operation vessel (CSOV) concept in collaboration with Salt Ship Design in Norway.

In late 2023, the company confirmed that it was venturing into a new market, and had been commissioned by Airbus to build three roll-on/roll-off vessels with Norsepower Flettner rotors. The vessels will replace older, higher-emissions vessels, aiming to halve the Airbus fleet’s emissions.

Having published the details of its deal with Airbus in October 2023, France-headquartered Louis Dreyfus Armateurs awarded the wind-propulsion contract to Finland’s Norsepower in February 2024. The Norsepower Rotor Sail is a version of the Flettner rotor that uses electric power to rotate the cylinder-shaped rotors on the deck, assisting the rotors in catching the wind to produce thrust and reduce fuel consumption, lowering emissions and costs.

A steel-cutting ceremony for the first of the innovative wind-assisted newbuilds took place at CSSC Group at Wuchang Shipyard in China in October 2024.