Canadian bulker owner CSL is targeting European growth and offshore wind diversification by buying half of Norway’s Peak Group.
The companies said CSL has taken a 50% stake in the Bergen operation for an undisclosed amount.
The new strategic alliance will bring together the two companies’ shortsea shipping operations in northern Europe.
Peak owns seven multipurpose and general cargo ships.
Through charters, it operates between 20 and 30 dry cargo, project and self-discharging vessels at any one time, ranging from 1,000 dwt to 6,000 dwt.
CSL owns 44 ships from small handysizes up to panamax size.
The idea is to draw on the groups’ collective expertise, resources and capabilities within the coastal and offshore shipping sectors.
Under the Peak CSL Group banner, the combined operation is positioned to provide “an expanded suite of services, particularly catering to the fast-growing offshore renewable energy sector”.
New vessels sound on the cards as the group targets rock and ballast logistics support for offshore wind farms through a “fleet of project carriers that includes low to zero-emission vessels, all facilitated by in-house engineering capabilities”.
“Through innovation and investment in energy-efficient vessels, the partnership aims to spearhead the transition towards zero-emission shipping and help customers meet their decarbonisation targets,” the companies said.
Strong alliance
Peak Group chief executive Jan-Petter Slethaug said the alliance will be a strong one.
“Teaming up with a robust partner enables us to broaden our service offerings towards the renewable, oil and gas and infrastructure markets, and set a solid groundwork for future expansion,” he added.
“Our accomplishments over nearly two decades within the Peak Group fill us with pride, and this partnership represents a significant step forward in our strategy for future growth.”
Peak and CSL have a history of developing innovative solutions together, among them the installation of ballast material into 11 floating foundations for Norway’s Hywind Tampen wind project.
CSL chief executive Louis Martel said: “By joining forces with Peak, we’re enhancing our ability to offer innovative and sustainable marine logistics solutions in coastal and offshore markets.”
Peak, which also has ship agency, logistics and engineering interests, is no stranger to collaboration.
Last month, the group struck a deal with UK shipbroker Clarksons to team up on North Sea agency work.
In September last year, its joint venture with Grieg Edge, Skarv Shipping Solutions, said it was ordering as many as eight MPPs with an eye on offshore wind work.
Four firm 7,000-dwt ships were contracted at China’s Huanghai Shipbuilding.
