Posted on February 19, 2025
Following a new investment, Japan’s NYK Line has become the majority owner of the crew transfer vessel (CTV) operator Northern Offshore Group.
N-O-G, an operator of over 60 CTVs in the global offshore wind industry, has had an operational and technical collaboration with NYK since 2019. The company has now become a part of the NYK Group after a majority of its shares were acquired by NYK.
Through this latest investment, N-O-G will be able to leverage NYK’s global network while the Japanese company will gain important operational experience in preparation for the anticipated future expansion of offshore wind in waters closer to Japan.
David Kristensson, Northern Offshore Group CEO, will continue to lead the company while Carl-Johan Hagman, NYK executive officer and NYK Group Europe region head, will become the chairman of N-O-G’s board of directors.
“For several years, NYK and N-O-G have had a close partnership that has very naturally evolved into this co-ownership. N-O-G will continue to operate as an independent entity but will have the ability to draw on the global resources of the wider NYK Group,” said Hagman.
Last month, NYK launched a crew transfer vessel shipmanagement joint venture for domestic offshore wind projects with local towing player Akita Eisen Kisen Kaisha. This came following a memorandum of understanding for CTV operations mainly in the waters off Akita prefecture in 2021.
