Brave Tern

Brave Tern. Photo credit: Fred.Olsen WindCarriers

Fred Olsen Windcarriers Secures New Contracts

Mike Schuler
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January 4, 2022

Fred Olsen Windcarriers has announced three new contracts in Europe and Asia Pacific worth a combined 80 million euros.

The contracts cover approximately 300 days in 2022 and 200 days in 2023. Two of the contracts are linked to projects where Fred Olsen Windcarriers is already involved.

Fred Olsen Windcarriers specializes in the transport and installation of offshore wind turbines. The contracts bring the company’s total revenue backlog to approximately 355 million euros, of which 18% is linked to options.

The company recently announced a new crane upgrade program for its existing three vessels which, once completed in 2024/25, will allow its vessels to install bigger 13 to 15+ MW turbines coming to the market. Related to this program, the company has announced a firm order for a new 1600t crane for its MV Brave Tern is now placed with Huisman with installation expected to be completed in 2024. Meanwhile, nstallation and upgrade work on its Bold Tern is continuing at Keppel Fels.

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