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Eneti Reveals Offshore Wind Contracts for Seajacks

Eneti's NG-2500X vessel Seajacks Hydra. Photo courtesy Eneti

Eneti Reveals Offshore Wind Contracts for Seajacks

Mike Schuler
Total Views: 1377
January 24, 2023

Offshore wind-focused Eneti (NYSE: NETI) announced contract awards on Tuesday for vessels belonging to its wholly-owned subsidiary Seajacks.

Eneti said two new contacts were signed in northwest Europe for one of its NG2500-class jackup vessels. The contacts cover between 75 and 102 days and will generate revenue of approximately $5.7 million to $7.1 million in 2023. Additional extensions were also negotiated for another one of Seajacks’ NG2500-class jackups which will generate an additional EUR 2.9 million of revenue.

In addition, an existing contract for its NG14000X-class vessel has been extended, which has generated an additional EUR2.6 million of revenue.

“The higher rates achieved for our NG2500-class vessels reflect the rising demand for these assets, and the evolution from seasonal employment to year-round opportunities,” said Emanuele A. Lauro, Eneti’s Chairman and CEO.

Eneti debuted in early 2021 as pure-play offshore wind turbine installation vessel (WTIV) shipowner after transitioning away from the dry bulk shipping sector under its former name “Scorpio Bulkers”. The company currently operates a market-leading fleet of five WTIVs through its wholly-owned subsidiary Seajacks UK Limited, which it acquired in 2021. It also has two WTIVs on order at DSME in South Korea.

Eneti in December announced the initial contract award for its first newbuild vessel commencing in the first half of 2025 with an undisclosed customer and location.

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