Eneti drops plans for US Jones Act WTIV newbuild

Eneti, formerly Scorpio Bulkers, is not proceeding with plans to enter the nascent US offshore wind market with the construction of a high-priced WITV at a US yard that could be deployed on offshore wind projects in the country’s domestic market.

Emanuele Lauro, Chief Executive Officer of Eneti, said, “We believe the US Market for offshore wind will offer significant opportunities for the company in the future, but right now we are focused on delivering on our existing commitments and deriving value from our existing fleet.”

Since deciding to exit the dry bulk shipping business and focus on offshore wind Eneti has ordered two WTIV newbuildings from Daewoo Shipbuilding & Marine Engineering (DSME) and acquired UK-based Seajacks with a fleet of five WTIVs on the water.

In conjunction with the announcement of dropping plans for a Jones Act newbuild Eneti said had signed four contracts with undisclosed customers in Northwest Europe for between 189 to 240 days of employment for its three NG2500-class vessels owned by Seajacks UK. The contracts would generate between $11.6m - $14.3m of revenues in 2022.

Meanwhile it signed a contract with Van Oord for the Seajacks Scylla for employment in 2023 with firm charter revenues of $60m.