Karadeniz Holding and Japanese MOL Begin Construction of New Powership

Karadeniz Holding, known for having the world's largest floating power plant fleet, has embarked on a new venture with Japanese MOL (Mitsui O.S.K. Lines) to build a new powership under the brand KARMOL. According to a statement from the company, the steel cutting ceremony for the new vessel took place on July 5 at Sedef Shipyard, with the goal of launching the ship by May 2026.

The joint venture, KARMOL, formed between Karadeniz Holding and MOL, aims to address the energy needs of various regions globally by providing swift, economical, and environmentally friendly power solutions through floating power plants. The new powership is set to have an installed capacity of 257 megawatts and will be equipped with state-of-the-art engines.

The steel cutting ceremony at Sedef Shipyard saw participation from notable figures such as Orhan Remzi Karadeniz, Vice Chairman of Karadeniz Holding, Dogan Karadeniz, a member of the board, Metin Kalkavan, Chairman of the Executive Board of Sedef Shipyard, Cem Savas, General Manager of MOL Turkey, along with senior representatives from Bureau Veritas, Seft Design, Sedef Shipyard, and prominent members of the maritime industry.

Zeynep Harezi Yilmaz, Vice Chairman of the Board of Directors of Karadeniz Holding, shared her insights in the statement, emphasizing the company’s continued investment in powerships since the early 2000s. "The number of our powerships has reached 40 today. As a holding, we possess the largest powership fleet in the world, and we continue to invest in this field. With an installed power of 7,000 megawatts, we produce sustainable and uninterrupted electricity across four continents. With the new vessel we are cutting steel for today, we will further strengthen our fleet. Our partner, MOL, is one of the world's largest maritime and LNG transportation companies. The new powership, which will bear the signature of our joint company KARMOL, will have an installed capacity of 258 megawatts and will be launched in May 2026."

Karadeniz Holding's powerships provide essential electricity to regions in need, positioning the company as a significant player in the global energy sector. The partnership with MOL highlights a strategic collaboration between maritime and energy industries, leveraging the strengths of both companies to address global power demands efficiently.

The new powership project not only marks a milestone in the ongoing expansion of Karadeniz Holding's fleet but also underscores the company's commitment to delivering innovative and sustainable energy solutions worldwide. As the construction progresses, the anticipated completion and launch in May 2026 are set to enhance the capabilities and reach of KARMOL's floating power plants, ensuring reliable energy supply to diverse geographical locations.