Vroon, Fred Olsen, MPI Offshore and ZPMC all linked with A2Sea takeover – Splash 247

March 27th, 2017 Sam Chambers Europe, Offshore 0 comments

DONG Energy and Siemens Wind Power are finally close to selling their joint venture shipping line A2Sea after years of hawking the wind turbine installation specialist.

Danish newspaper Berlingske reports a sale is now close for the line described by the daily as an unwanted child. A series of bids have been lodged for the line with DONG and Siemens in the process of picking a winner.

Berlingske lists European owners Vroon, Fred Olsen, MPI Offshore as possible buyers as well as Chinas ZPMC with a figure thought to be in the region of $200m to $250m.

A2Sea was founded in 2000, with DONG buying it in 2009 and Siemens taking a 49% stake the following year.

A2Seas fleet of three vessels has not kept up with the supersizing of wind turbines, Berlingske reports. When DONG bought the line eight years ago the average turbine was around 140 m tall, nowadays they soar 220 m.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the worlds oldest newspaper, Lloyds List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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Vroon, Fred Olsen, MPI Offshore and ZPMC all linked with A2Sea takeover - Splash 247