Eneti has announced its subsidiary Seajacks UK has signed a vessel reservation agreement with an undisclosed client to transport and install turbines.
With mobilization commencing in the first quarter of 2027, the contract will be performed by one of the company’s two NG16000X Wind Turbine Installation Vessels currently under construction at Hanwa Ocean in South Korea.
The engagement is expected to be between 210 and 245 days and generate approximately $87m to $100m of gross revenue. Project costs are expected to be $15m in aggregate.
“Through the ability to employ either of our two newbuilds, this project provides both maximum flexibility and accretive future cash flows,” said Eneti chief executive Emanuele Lauro.
“With net revenues approaching $350,000 per day, the contract reflects the improving fundamentals of offshore wind and current market conditions.”