The companies aim to create a strong yet agile business in the sector. Credit: fokke baarsen via Shutterstock.

Japanese companies Mitsui OSK Lines (MOL) and Toyo Construction have formed a joint venture (JV) to pursue opportunities in offshore wind power.

The companies set up the 50:50 JV following a study and talks on opportunities for collaboration.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Shipping company MOL and marine and civil engineering services provider Toyo plan to create synergies across a wide range of areas related to offshore wind, including survey planning, the procurement of work vessels and offshore construction.

The companies aim to create a strong yet agile business in the sector.

This JV will integrate MOL’s know-how in ship construction, ownership and operation and Toyo’s expertise and human resources in offshore construction along with its technological development in the sector.

The new business is expected to contribute significantly to the sector’s value chain as an engineering and solutions company, allowing it to meet the demand for a wide range of businesses in offshore wind, which will play a crucial role in renewable energy supply in the future.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The latest decision follows the signing of a memorandum of understanding (MoU) between the two firms in February 2022 to collaborate in the sector and unlock new business opportunities for work vessels for offshore wind projects in Japan and overseas.