Fred. Olsen Ocean
Fred. Olsen Ocean is a Bonheur ASA-owned holding company operating Fred. Olsen Windcarrier (jack-up vessels for offshore wind installation) and Global Wind Service (wind turbine installation and maintenance), serving offshore wind developers and OEMs across Europe and Asia-Pacific.
- Company typePrivate
- Founded1993
- HeadquartersOslo, Norway
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Fred. Olsen Ocean does
Fred. Olsen Ocean is a holding company focused on the offshore wind sector, comprising two principal subsidiaries: Fred. Olsen Windcarrier, which operates specialized jack-up vessels for the transport and installation of offshore wind turbines, and Global Wind Service (GWS), which provides wind turbine installation, service, and maintenance capabilities both onshore and offshore. The entity is wholly owned by Bonheur ASA, a publicly listed Norwegian conglomerate whose roots trace back to the Fred. Olsen shipping and energy businesses established in 1848. Fred. Olsen Ocean itself was incorporated in 1993 as First Olsen Tankers Ltd. and rebranded to its current name in 2014 to reflect a strategic pivot from tanker shipping toward renewable energy infrastructure. The company is registered in Hamilton, Bermuda, with operational headquarters in Oslo, Norway, and additional offices in Denmark and Taiwan.
The company's core offering combines highly capital-intensive marine assets (purpose-built jack-up vessels designed for harsh-water offshore wind operations) with skilled installation and maintenance labor. Its vessels are engineered to transport and install next-generation, large-capacity wind turbines, addressing one of the most technically demanding segments of the wind energy supply chain. GWS extends the value proposition by providing the trained personnel required to execute installation campaigns and ongoing service work, creating a vertically integrated offering for offshore wind developers and turbine OEMs.
Revenue is generated primarily through project-based contracts with offshore wind farm developers and turbine manufacturers, structured around vessel day rates, installation campaign fees, and ongoing service and maintenance agreements. The company serves a B2B customer base concentrated in the European and Asia-Pacific offshore wind markets, with active expansion efforts in Taiwan and Japan (evidenced by the 2021 Shimizu Corporation partnership). With 501-1,000 employees and the backing of Bonheur ASA's broader industrial portfolio, Fred. Olsen Ocean operates as a niche, asset-heavy player in a structurally growing renewable energy segment.
Fred. Olsen Ocean firmographics
Firmographics- Name
- Fred. Olsen Ocean
- Legal name
- Fred. Olsen Ocean Ltd.
- Website
- https://fredolsenocean.com
- Company type
- Private
- Founded year
- 1993
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Fred. Olsen Ocean is a Bonheur ASA-owned holding company operating Fred. Olsen Windcarrier (jack-up vessels for offshore wind installation) and Global Wind Service (wind turbine installation and maintenance), serving offshore wind developers and OEMs across Europe and Asia-Pacific.
- Ownership category
- akta.pro rank
Fred. Olsen Ocean industry classification
Industry- Product category
- Offshore Wind Services
- NAICS
- Other Support Activities for Water Transportation (48839)
- SIC
- Water Transportation (4400)
- akta.pro primary industry
- Marine & Offshore Wind BOP Construction (Foundations, Cables, Ports, Installation Support) (EUAMAFAI)
- akta.pro secondary industry
- Marine & Offshore Energy O&M (Offshore Wind, Platforms, Subsea Assets) (EUAEAGAO)
Keywords
Where Fred. Olsen Ocean is headquartered
LocationHeadquarters
- HQ city
- Oslo
- HQ country
- Norway
- HQ region
- Europe
Offices4 records
Markets served
Fred. Olsen Ocean business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Personnel, Operations, Supply Chain, Technology or R&D
Revenue model
- Offshore Wind Services: Revenue generated from transport, installation and maintenance services for offshore wind farms through Fred. Olsen Windcarrier and Global Wind Service subsidiaries
- Technical Marine Services: Revenue from technical marine services supporting both on- and offshore wind operations
Go-to-market motion1 record
Distribution channels1 record
Marketing channels2 records
Fred. Olsen Ocean product offering
Product offeringCore offering
Fred. Olsen Ocean is a parent company in offshore renewables. Through its related companies — Fred. Olsen Windcarrier and Global Wind Service — it provides integrated offshore wind solutions covering transport, installation, and maintenance of offshore wind turbines, alongside technical marine services supporting both on- and offshore wind operations.
Product overview
Fred. Olsen Ocean operates as a parent company providing an integrated solution for the offshore wind industry through its related companies. The portfolio consists of two main operating sub-brands: Fred. Olsen Windcarrier, which handles transport, installation, and maintenance services for offshore wind, and Global Wind Service, which supplies turbine technicians and expertise for wind farm installation and servicing. Together with technical marine services, these companies draw on each other's strengths to deliver comprehensive offshore wind solutions to clients.
Differentiator
Problem solved
Functional benefit
Products and services
- Offshore Wind Turbine Transport, Installation and Maintenance Services Flexible services for the transport, installation, and maintenance of offshore wind turbines, delivered through Fred. Olsen Windcarrier using specialized jack-up installation vessels and crew transfer vessels. Targeted at offshore wind developers and operators requiring installation, transport, and ongoing servicing of wind turbines at sea.
- Wind Turbine Technician and Servicing Services Supply of turbine technicians, expertise, and service to wind farm projects, including both onshore and offshore installation and servicing of wind turbines. Targeted at wind farm developers and operators needing specialized workforce and technical expertise for turbine installation and ongoing maintenance.
- Technical Marine Services Technical marine services supporting both onshore and offshore wind operations. Targeted at offshore wind and marine project operators requiring specialized marine technical support.
Companies that use Fred. Olsen Ocean
Customer profileSegments1 record
Ideal customer profiles1 record
Fred. Olsen Ocean technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Fred. Olsen Ocean partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Shimizu CorporationcoreIn 2021, Fred. Olsen Ocean partnered with Shimizu Corporation to drive progress within the Japanese offshore wind sector. This partnership focuses on developing offshore wind opportunities in Japan.
Scale indicators2 records
Recent moves6 records
Expansion highlights3 records
Fred. Olsen Ocean competitors and assessment
Company assessmentDirect peers
- Maersk Supply Service: Marine services arm providing offshore support vessels and increasingly offshore wind installation/transport capacity. Competes with Windcarrier for vessel-based offshore wind scopes.
- Cadeler: Pure-play offshore wind installation vessel operator (formed from merger of Swire Pacific Offshore's wind business and Eneti). Directly comparable to Fred. Olsen Windcarrier in jack-up wind turbine installation capacity.
- DEME Group: Belgian marine contractor with dedicated offshore wind installation, foundation, and cable-lay fleets. Competes head-to-head with Fred. Olsen Ocean for European offshore wind installation scopes.
- Van Oord: Dutch marine contractor with offshore wind installation, cable lay, and balance-of-plant capabilities. Competes with both Windcarrier (installation) and GWS-adjacent technician scopes.
- Jan De Nul: Luxembourg-based marine contractor with offshore wind installation vessels and heavy-lift capability. Competes for the same installation and transport tenders as Fred. Olsen Windcarrier.
- Seaway 7: Subsea 7's offshore wind business specializing in cable installation and transport/installation of foundations and substations. Overlaps with Windcarrier on transport and installation scopes.
Broad incumbents
- Royal Boskalis Westminster: Large Dutch marine services group with offshore wind installation, subsea, and dredging capabilities. A broader incumbent that competes for offshore wind installation work alongside Fred. Olsen Ocean.
- ZPMC: Chinese heavy-lift crane and offshore installation vessel manufacturer/operator with growing offshore wind installation capability. Competes with Windcarrier in APAC offshore wind installation tenders.
Regional players
- Penta-Ocean Construction: Japanese marine and civil contractor active in Japanese offshore wind foundation and installation work. A regional peer/competitor to Fred. Olsen Ocean's Japanese operations via the Shimizu partnership.
Others
- Shimizu Corporation: Major Japanese construction firm partnering with Fred. Olsen Ocean since 2021 on Japanese offshore wind. Functions as both a regional channel partner and an adjacent incumbent in Japanese offshore construction.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Fred. Olsen Ocean financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fred. Olsen Ocean leadership team
Management profileNumber of profiles
Fred. Olsen Ocean subsidiaries and ownership
Company hierarchySubsidiaries3 records
Fred. Olsen Ocean funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fred. Olsen Ocean M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fred. Olsen Ocean
What does Fred. Olsen Ocean do?
Fred. Olsen Ocean is a parent company in offshore renewables. Through its related companies — Fred. Olsen Windcarrier and Global Wind Service — it provides integrated offshore wind solutions covering transport, installation, and maintenance of offshore wind turbines, alongside technical marine services supporting both on- and offshore wind operations.
Is Fred. Olsen Ocean a public or private company?
Fred. Olsen Ocean is a private company. It is classified as corporate owned and is currently operating.
When was Fred. Olsen Ocean founded?
Fred. Olsen Ocean was founded in 1993. It employs 501 to 1,000 people.
Where is Fred. Olsen Ocean based?
Fred. Olsen Ocean is headquartered in Oslo, Norway, in the Europe region.
How does Fred. Olsen Ocean make money?
Two revenue lines are on record. Offshore Wind Services are the primary driver. The others are technical Marine Services.
Who are Fred. Olsen Ocean's main competitors?
Direct peers on record are Maersk Supply Service, Cadeler, DEME Group, Van Oord, Jan De Nul and Seaway 7. Broad incumbents are Royal Boskalis Westminster and ZPMC. Penta-Ocean Construction is listed as a regional player. Shimizu Corporation is listed as an others.
Does Fred. Olsen Ocean have an API?
No public API is recorded for Fred. Olsen Ocean.
What industry is Fred. Olsen Ocean in?
Fred. Olsen Ocean's product category is Offshore Wind Services. Its primary akta.pro industry code is EUAMAFAI, Marine & Offshore Wind BOP Construction (Foundations, Cables, Ports, Installation Support), with a secondary code of EUAEAGAO, Marine & Offshore Energy O&M (Offshore Wind, Platforms, Subsea Assets). Its NAICS code is 48839 and its SIC code is 4400.