Norway-based vessel operator and service provider, Integrated Wind Solutions (IWS), has reported revenue for its business unit providing offshore wind vessels, IWS Fleet, of EUR 14.2 million in the first quarter of 2025 (Q1 2025) and new contracts and contract extensions that were signed during the quarter.
IWS Fleet marked a revenue increase in Q1 compared to the same quarter last year (EUR EUR 12.1 million) as well as the last quarter, Q4 2024 (EUR 12.1 million).
Four IWS vessels were in operation during the first three months of 2025, with IWS Skywalker and IWS Starwalker on charter with Dogger Bank Wind Farm and IWS Windwalker on charter with Siemens Gamesa. IWS Seawalker was on charter with Dogger Bank at the beginning of the quarter and transitioned to charter with Siemens Gamesa partway through the quarter, the company said in its Q1 2025 report, published on 23 May.
According to news about the Sofia offshore wind project from March, IWS Seawalker was deployed on RWE’s UK offshore wind farm to support the wind turbine installation.
IWS Fleet signed charter contracts for more than EUR 30 million in Q1 2025.
IWS Skywalker ’s contracts with Dogger Bank Wind Farm were extended in January 2025 on improved terms. The vessel, which was scheduled to stay on the project until the end of Q2 2026, will now be operating at the offshore wind farm into Q3 2027.
For IWS Starwalker , IWS Fleet signed a new contract with Dogger Bank Wind Farm that commenced on 10 February 2025.