About Us

Fred. Olsen Ocean Ltd. was established in 1993 under the name of First Olsen Tankers Ltd. and then First Olsen Ltd. Since 2014, the company operates as Fred. Olsen Ocean Ltd. The company has its registered office in Hamilton, Bermuda with the operational headquarters in Oslo, Norway.

Fred. Olsen Ocean Ltd. is wholly owned by the Norwegian stock listed company Bonheur ASA (BON on OSE ticker).

The company’s main activities relate to a variety of operations, services and products in both on- and offshore wind and technical marine services.

Fred. Olsen Ocean is the parent of the below companies:

Currently Fred. Olsen Ocean has offices in Bermuda and Norway, with subsidiary offices across the world employing over 800 people, with around 60 employed at the Oslo office.

Brave tern boat

History

Fred. Olsen & Co. dates back to 1848 when the Olsen family first entered the ship owning business. The company has been a pioneer ever since and uniquely combines tradition with innovation. Over the years, companies related to the family have diversified into a variety of activities: from aviation to shipbuilding, oil and gas exploration and production, and latest within renewable energy.

Fred. Olsen Ocean Ltd. was established under the company name First Olsen Tankers Ltd in 1993 to operate tanker vessels. Over the years the focus increased on renewable energy and the company was in 2014 eventually renamed to Fred. Olsen Ocean Ltd.

With the acquisition of the jack-up installation concept Windcarrier the company entered the offshore wind industry in 2008. Global Wind Service offering onshore and offshore installation and servicing of wind turbines was acquired in 2009 to further strengthen the company’s efforts. The crew transfer vessel provider Fred. Olsen Windcarrier A/S was then established to provide integrated solutions in offshore wind. The Universal Foundation Mono Bucket concept was acquired in 2011 and integrated in the Fred. Olsen company. In 2019 acquired 50% ownership in United Wind Logistics GmbH (UWL) marking an expansion of the Company’s footprint within the offshore wind service industry. In 2019 acquired 50% ownership of United Wind Logistics GmbH (UWL) marking an expansion of the Company’s footprint within the offshore wind service industry.

Milestones

1993

First Olsen Tankers established
2005

Renamed to First Olsen Ltd.
2008

Acquired jack-up installation concept company Windcarrier

Windcarrier was renamed and Fred. Olsen Windcarrier AS established, wholly owned by First Olsen Ltd.

Fred. Olsen Windcarrier AS acquired 51% stake in Global Wind Service A/S
2009

Fred. Olsen Windcarrier A/S established by Fred. Olsen Windcarrier AS and Global Wind Service A/S, owning 50% each

Fred. Olsen Marine Services AS incorporated

2011

Acquired 60% share in Universal Foundation A/S

Acquired additional 22% share of Universal Foundation A/S, bringing it to 82%

2013

Renamed to Fred. Olsen Ocean Ltd.

2015

Fred. Olsen Windcarrier AS acquired additional 24.5% share in Global Wind Service A/S, bringing it to 75.5%

2017

January

Fred. Olsen Marine Services becomes a part of Fred. Olsen Windcarrier.

2019

January

Acquired 50% ownership in United Wind Logistics GmbH (UWL)

2020

Corporate Social Responsibility

Fred. Olsen Ocean believes that Corporate Social Responsibility (CSR) is integral to our business. We are dedicated to making a positive contribution to our communities, being a good employer and minimising our environmental impacts.

To learn more about our Corporate Social Responsibility, please download our latest CSR Report.

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