UK-based Mojo Maritime has signed a memorandum of understanding (MoU) with Hammonia Reederei to finance and build a new offshore construction vessel, the Hi Flo 4.
Under the deal, Mojo will provide offshore engineering and operations expertise to Hammonia.
Germany-based Hammonia is a part of the Döhle Group and will also use Peter Döhle Schiffahrts-KG for chartering, crew management and insurance services.
The Hi Flo 4 vessel will have the capability to withstand high tides, which will increase project yields and reduce operational and maintenance costs normally faced by the companies due to weather delays.
Hi Flo 4 can also be used for a wide range of offshore construction roles, such as offshore wind, cable laying and trenching, and subsea oil and gas interventions.
Mojo and Hammonia are working with other technology strategy board project partners to appoint a shipyard and secure the first charter for the new ship.
Mojo Maritime managing director Richard Parkinson said that the two companies have complementary skill sets and a shared vision for the Hi Flo 4 vessel.
"Hammonia’s commitment to Hi Flo 4 demonstrates not only their confidence in the vessel, but also in the team that has brought the ship to this advanced design stage," Parkinson said.
Hammonia Reederei managing director Rene Menzel said that, when the company became aware of the Hi Flo 4, they could see it had the potential to transform the offshore construction market.