General – CSOV Business
MOL has decided to jointly own two Commissioning Service Operation Vessels (CSOVs) with Schoeller Holdings, with delivery scheduled in 2027.
MOL has also decided to make an investment in Deutsche Offshore Schifffahrt, a Germany-based developer and commercial operator of offshore energy vessels, which will operate the vessels.
Through this project, MOL will participate in the European offshore wind support vessel business for the first time, following our SOV business in Taiwan.
Offshore wind power is positioned as a key pillar of medium- to long-term energy policy across Europe, supported by strong policy measures. Large-scale offshore wind projects continue to expand in the region, and demand for CSOVs is expected to grow further.
MOL aims to achieve net-zero emissions by 2050 and is promoting a transformation of its business portfolio by increasing the share of non-shipping businesses that are less susceptible to shipping market volatility, thereby securing profitability even during downturns in the shipping market.
Under this policy, this project marks a key milestone in expanding MOL’s offshore wind business from Asia into Europe. Moving forward, MOL will continue to strengthen operations that help reduce GHG emissions, support a decarbonized society, and drive sustainable growth and increased corporate value through a stronger earnings foundation.
