IWS Fleet, a subsidiary of Norway-based Integrated Wind Solutions (IWS), has ordered four Skywalker-class commissioning service operation vessels (CSOVs), with a firm yard price of around EUR 65 million per vessel.
The four vessels, which will increase the company's owned CSOV fleet from six to ten, are scheduled for delivery in 2029 and 2030.
The company has also secured options for four additional vessels at the same firm prices, with deliveries scheduled for 2030 and 2031, subject to adjustments related to foreign exchange rates and key sub-suppliers.
The newbuild vessels will be constructed by Nantong Rainbow Offshore & Engineering Equipment under fixed-price turnkey contracts. The CSOVs will be based on a Kongsberg Maritime design and equipped with 3D motion-compensated cranes and gangway systems supplied by MacGregor Norway.
IWS said it plans to finance the shipbuilding programme worth around EUR 260 million for the four firm vessels without raising additional equity while maintaining its ordinary quarterly dividend. The company expects to fund the newbuilds through a combination of cash generated from operations and additional debt.
IWS said the order expands on the Skywalker-class programme, which started with the delivery of IWS Skywalker in 2023.
The company said its existing strategic agreement with a client gives IWS Fleet visibility through 2029, excluding options, while the expanded fleet will also support its plans to pursue opportunities in the Asia-Pacific region.
IWS said the four newbuild CSOVs are expected to strengthen its capacity to serve offshore wind projects during installation and commissioning and provide greater flexibility through a fleet of interchangeable vessels.