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Thursday, September 28, 2023

Eneti's Seajacks Secures Major Offshore Wind Turbine Installation Deal

Maritime Activity Reports, Inc.

September 18, 2023

Credit: Seajacks (File image)

Credit: Seajacks (File image)

Eneti's offshore installation services subsidiary Seajacks UK has signed a vessel reservation agreement with an undisclosed client to transport and install turbines.

With mobilization starting in the first quarter of 2027, the contract will be performed by one of the company’s two NG16000X Wind Turbine Installation Vessels currently under construction at Hanwha Ocean (ex-Daewoo Shipbuilding & Marine Engineering) in South Korea. 

Including mobilization and demobilization, the engagement is expected to be between 210 and 245 days and generate approximately USD 87 million to USD 100 million of gross revenue. Project costs are expected to be USD 15 million in aggregate.

Emanuele Lauro, CEO of Eneti, says, “Through the ability to employ either of our two newbuilds, this project provides both maximum flexibility and accretive future cash flows. With net revenues approaching $350,000 per day, the contract reflects the improving fundamentals of offshore wind and current market conditions.”

Eneti's under-construction jack-up units are an NG-16000X design by GustoMSC and include a 2,600-ton leg encircling cranes to be supplied by the Dutch crane maker Huisman.

The vessels will be capable of installing up to 20-megawatt turbines at depths of up to 65 meters of water, and they can be adapted to operate on the alternate fuels of liquefied natural gas (LNG) or ammonia.

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