CBED Acquires Two SOVs from Vroon Citing Strong Market Demand

offshore SOV vessels
CBED is buying the last two SOVs in Vroon's fleet citing strong demand in the offshore markets (CBED)

Published Dec 4, 2023 4:55 PM by The Maritime Executive


Citing strong expected demand in the offshore markets and gaps already appearing in the markets, Danish offshore accommodations company CBED acquired two additional vessels. They are buying the ships from Dutch-based shipping company Vroon which earlier this year reported it would be selling elements of its offshore fleet as part of a refinancing and refocusing on its operations.

“We see a very strong market now and looking ahead, there will be an even higher demand for high-quality, purpose-built SOVs,” predicts Daniel Alon, General Manager of CBED. “We have been looking for the right opportunity to expand our fleet for a long time, so we are very pleased to have sealed the deal on these two very modern sister vessels.”

Looking to the future, CBED which was started in 2008 as an offshoot of Danish fuel company Monjasa as an offshore subsidiary, predicts the coming decade is likely to bring unprecedented demand for vessels to service projects in the offshore sector. They cite data from Clarkson which predicts 30,000 turbines and foundations are to be installed by 2030 in the offshore wind sector. The Clarkson market analysis notes that the yearly installation rate is set to double from 700-1,000 per year to more than 2,000 per year from 2025 and onwards.

The Vroon family lost control of their company after 132 years of operations agreeing to handover the company to credits at the beginning of 2022. In September 2023, the company completed the sale of 40 vessels from its offshore fleet saying that it was an integral part of its financial restructuring and strategic reorientation. Britoil Offshore Services along with GEOS and Rederij Groen acquired the ships.

Vroon has now agreed to sell the last two SOVs in its offshore fleet, the Vos Stone and the Vos Start with delivery expected in the first quarter of 2024 to CBED. Vroon is focusing its operations on its emergency response and rescue vessels as well as tankers and livestock carriers.

CBED calls it an attractive acquisition noting that they are modern vessels that can address the gaps in the offshore market. Built in China in 2017, the two vessels each 2,250 dwt with accommodations for 60 personnel are customized walk-to-work vessels with modern features including motion-compensated gangways, a Kongsberg DP2 system, and cranes. 

Following delivery from the seller, the two new SOVs will be renamed Wind Evolution and Wind Creation. They will be dry-docked for refurbishing, name change, and painting in the CBED livery. They will be ready to take on new projects starting Q2 2024.