Singapore newcomer Cyan Renewables has asked Norway’s Ulstein Design & Solutions to develop a series of floating foundation installation vessels (FFIVs) as part of its $1bn entry into the wind sector.
The companies said there is an increasing lack of heavylift installation ships for offshore wind farms.
“With their strong track record in heavylift vessel design and a good understanding of the market constraints and requirements, Ulstein is the preferred partner to design our new vessels,” said Torgeir Ramstad, Cyan’s managing director for FFIVs.
Cyan has been recruiting industry veterans to run the company.
Ramstad himself is the former chief executive of Norwegian investor Arne Blystad’s wind shipping company OHT, which merged with the renewables division of Kristian Siem’s Subsea 7 to form Seaway 7 in 2021.
“Cyan Renewables will be a leading global vessel provider to offshore wind by partnering with developers and … contractors based on future-proof vessels in all categories,” he said.
The new FFIVs will feature enough deck space and crane capacity to meet developments in foundation design, including monopiles and jackets.
They will use a hybrid power system consisting of methanol dual-fuel engines and a battery energy storage system.
Cyan was set up in September 2022 by Singapore’s-headquartered fund Seraya Partners.
The company has been contacted over details of future orders.
It has said it wants to have a fleet worth $1bn within three years, including cable-layers, wind turbine installation vessels and service operation vessels.
The company is run by chief executive Lee Keng Lin. Lars Christian Zohner, its boss in Europe, has more than 20 years’ experience in the maritime sector, most recently as chief executive of Denmark’s World Marine Offshore.