Swedish shipowner invests in UK crew transfer vessel market

Northern Offshore Group in Sweden is investing in the UK market and acquiring Turbine Transfer’s fleet of 25 crew transfer vessels and assets.

Once they become part of the Swedish group, the crew transfer vessels (CTVs) will be operated by a newly-formed entity MAREEL Ltd, a stand-alone company within Northern Offshore Group. MAREEL Ltd will operate the vessels and manage day-to-day business from its office in North Wales. All existing contracts and operations will transfer with the vessels.

Northern Offshore Group chief executive David Kristensson said, “We are very excited about this opportunity and convinced that strengthening the group’s position in the offshore wind industry will generate long-term value.”

Until the acquisition, Northern Offshore Group was run primarily through two companies, Northern Offshore Services, which operates CTVs, and Northern Energy & Supply, which operates in the energy, recycling and logistic segments.

The group has around 350 seagoing and 60 land-based employees, with offices in Sweden, the UK, Denmark and Germany. It has a fleet of around 25 vessels of various types.