Japanese shipping giant Mitsui has bought a stake in Odfjell Oceanwind, which says the deal will help strengthen its position in the offshore wind market.

Odfjell and Mitsui OSK Lines (MOL), the shipping division of Mitsui Group, said the deal enables Odfjell to “accelerate its business plan of supporting and partnering with offshore wind park developers in realising floating offshore wind projects” using its proprietary tech.