JACKSONVILLE, Florida – Crowley and ESVAGT say they have executed additional joint venture agreements that further strengthen their commitment to support purpose-built, Jones Act vessel development and availability for US offshore wind production.
The new agreements, which follow the original agreement between the companies in 2021, will support their joint efforts for service operation vessels (SOVs). The latest additions focus on the financial and development efficiencies in the vessel development process between the companies.
The venture was created to develop a best-in-class design and deliver wind-dedicated, US flag SOV vessels. Crowley will own and operate the vessels crewed with US mariners, while Crowley and ESVAGT will share in the financials of the venture.
“The enhancement of this venture will help bring these important service operation vessels to the US offshore wind market to meet the nation’s clean, sustainable energy demands,” said Jeff Andreini, vice president, Crowley Wind Services. “As we increase our organizations’ shared capabilities, we will help propel the continued growth of maritime and logistics solutions to help solve the nation’s vessel capacity demands in a responsible and sustainable way.”