IWS Fleet Orders Four More Skywalker-Class CSOV Newbuilds

Integrated Wind Solutions says its subsidiary IWS Fleet has entered into contracts for the construction of four new Skywalker-class commissioning service operation vessels. In addition to the four firm newbuildings, IWS Fleet has secured options for four additional vessels at the same prices. On delivery, the four newbuildings will increase IWS Fleet's owned fleet from six to 10 vessels, strengthening the company's position in the offshore wind service vessel market and expanding its capacity to serve installation and commissioning phases.

 

Details of the Order

 

IWS Fleet has ordered new vessels. It entered contracts for four newbuilds. These are Skywalker-class vessels. They are commissioning service operation vessels. This expands its fleet.

The order includes further options. It secured options for four more vessels. These are at the same prices. Their delivery is scheduled for 2030 and 2031. Certain adjustment factors apply.

 

The Fleet Expansion

 

The order significantly grows the fleet. It increases the owned fleet from six to 10. These are all CSOVs. This strengthens the company's market position. It expands its service capacity.

The expansion serves offshore wind. It supports installation phases. Commissioning phases are also covered. Company leadership welcomed the growth. It takes a leading role in the market.

 

The Financial Approach

 

The order has a clear financial rationale. Leadership cited strengthened earnings. The plan is to double earnings per share. This is when the fleet is operational. It aims to avoid raising equity.

The financing uses existing resources. It combines operating cash with debt. It maintains the quarterly dividend. Payment follows industry standards. Half is payable upon delivery.

 

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The Vessel Design

 

The vessels use a proven platform. They build on the Skywalker class. This was introduced in 2024. It has been valued by customers. The expansion extends this platform.

The vessels feature advanced systems. They use a Kongsberg Maritime design. They have motion-compensated cranes. Gangway systems are also included. These come from MacGregor Norway.

 

The Construction

 

The vessels have a defined construction plan. They will be built at a Chinese yard. This is Nantong Rainbow. The contracts are fixed-price turnkey. Delivery is due in 2029 and 2030.

The timeline aligns with market needs. Vessel demand is expected to grow. The delivery schedule matches this. Company leadership cited strong fundamentals. This supports the investment.

 

Significance of the Order

 

The order strengthens the company's position. It expands a proven fleet. It offers interchangeable vessels. This enhances operational flexibility. It also improves commercial flexibility.

The order reflects strong market prospects. Few competing vessels are on order. The company has visibility through 2029. This spans European and Asia Pacific opportunities. The vessels enable growth with clients.