Eneti has scored a new contract for a newbuilding offshore wind vessel that chief executive Emanuele Lauro sees as a sign of the strength of the market.
The New York-listed owner of wind-turbine installation vessels said its Seajacks UK subsidiary struck a deal that will bring in $73m to $84m in gross revenue, with just $8m in aggregate project costs.
“This contract emphasizes our position that market fundamentals remain strong,” Lauro said.
“As with our previous newbuilding contract, we have secured optionality in providing either of our newbuildings to service the contract, which maximises vessel utilisation and generates accretive cash flows. All in all, this contract serves both the needs of our customer and returns required of our shareholders.”
The contract with an undisclosed client will see one of two newbuildings transport and install turbines over 180 to 210 days, with mobilisation to the project starting in the second quarter of 2027.
The NG16000X-class vessels are under construction at South Korean shipyard Hanwa Ocean.
Eneti announced in September that Seajacks struck a deal for one of the vessels for 210 to 245 days, bringing in gross revenue of $87m to $100m.
Project costs for that deal came in at $15m.
The Monaco and New York-headquartered company has been busy scoring contracts for its fleet as it gears up for a proposed merger with Oslo-listed Cadeler.
TradeWinds reported on Thursday that the combination took a step forward when the two companies filed a formal registration statement with the US Securities and Exchange Commission.
