CSL Acquires 50% Stake in Norway’s Peak Group

Strategic Partnership Formed to Revolutionize Marine Logistics in Europe’s Offshore Sector

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Canadian shipping company CSL has finalized the acquisition of a 50% stake in Norway’s Peak Group, marking a significant milestone in the consolidation of shortsea operations in Northern Europe and bolstering assets within the coastal and offshore shipping sectors.

The newly formed partnership, christened as Peak CSL Group, is poised to revolutionize marine logistics solutions for industrial clients throughout Europe. As articulated in a joint statement by the two entities, Peak CSL Group is strategically positioned to offer an extensive array of services, with a particular focus on meeting the escalating demands of the offshore renewable energy sector.

The comprehensive service portfolio of Peak CSL Group encompasses crucial aspects such as rock and ballast logistics support for offshore wind farms, turnkey material transfer solutions, and a versatile fleet of project carriers, which includes environmentally friendly vessels boasting low-to-zero emissions.

Noteworthy advancements in vessel development underscore the commitment of both Peak Group and CSL to environmental sustainability and technological innovation. Bergen-based Peak, in collaboration with its joint venture partner Grieg Edge, has commissioned the construction of up to eight 7,000 deadweight tonnage (dwt) multipurpose vessels at Huanghai Shipbuilding in China. These vessels, slated for delivery starting from the third quarter of 2025, are engineered to accommodate alternative fuels such as ammonia or methanol, alongside battery propulsion systems and shore power capabilities.

Simultaneously, CSL, headquartered in Montreal and renowned for its expertise in the self-unloading segment, is poised to introduce groundbreaking advancements in vessel design and operation. Notably, CSL is on track to unveil the industry’s first fully electric battery-capable 11,000 dwt bulker, scheduled for delivery to Adbri in 2026. Additionally, CSL is spearheading the construction of two 72,250 dwt methanol-ready newbuilds, with the inaugural vessel set to be launched next year.

Jan-Petter Slethaug, CEO of Peak Group, expressed optimism regarding the strategic collaboration, emphasizing its pivotal role in fortifying the companies’ market positioning and facilitating future growth endeavors. Similarly, Louis Martel, president and CEO of the CSL Group, underscored the significance of the partnership, highlighting its potential to drive innovation and sustainability within coastal and offshore markets.

With the establishment of Peak CSL Group, the maritime industry witnesses the emergence of a dynamic alliance poised to redefine standards of excellence in marine logistics, while simultaneously championing environmental stewardship and operational efficiency.

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