Eneti Shelves Plans to Build Wind Turbine Installation Vessel in USA, Announces New Contracts

Eneti Inc. has discontinued discussions with a shipyard in the United States to build a Jones Act-compliant wind turbine installation vessel (WTIV).

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”We believe the US Market for offshore wind will offer significant opportunities for the company in the future, but right now we are focused on delivering on our existing commitments and deriving value from our existing fleet,” Emanuele A. Lauro, Eneti’s Chief Executive Officer, said.

Furthermore, Eneti announced that Seajacks UK Limited, a wholly-owned subsidiary of the company, has signed four contracts with customers in NW Europe for between 189 to 240 days of employment for its NG2500-class vessels that will generate between approximately USD 11.6 million to USD 14.3 million of revenue in 2022.

As previously reported, the Seajacks Scylla, another vessel of Seajacks UK limited, signed a contract with Van Oord for employment in Europe in 2023.

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The firm charter duration of the contract will generate approximately USD 60 million of revenue from the first quarter through the fourth quarter of 2023, Eneti said.

The company currently has two next-generation WTIVs under construction at South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME).

The two jack-ups will feature 2,600mt Leg Encircling Cranes (LEC) and will be capable of installing wind turbines with an individual capacity of up to 20 MW at depths of up to 65 metres of water.

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Following the delivery of the newly ordered vessels, Eneti will own and operate a fleet of seven WTIVs. The first of the new jack-ups is scheduled for delivery in 2024, and the second vessel is expected to be delivered in the second quarter of 2025.