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Eneti charters first WITV newbuild

Image: Unsplash wind turbine shaun-dakin-nY_RHD44e_o-unsplash 2 2_0.jpg
NYSE-listed Eneti has secured a charter for its first wind turbine vessel (WITV) newbuilding.

Eneti’s subsidiary Seajacks UK has signed a contract with an undisclosed client to transport and install turbines for a project commencing in the first half of 2025. 

The contract will be performed by the first of two NG16000X WITV newbuildings currently under construction at Daewoo Shipbuilding and Marine Engineering (DSME). The vessel to be named Nessie is expected to be delivered in the fourth quarter of 2024.

Emanuele Lauro, CEO of Eneti, said: “Securing this charter for our first newbuilding WTIV is an important milestone for the Company. It represents a proof of concept for our newbuildings and reflects the improving fundamentals of the installation market and the expanding capability of our fleet.

“With open vessel capacity, we are well positioned to contract the fleet in a tightening market and a rising rate environment,” he added.

The contract for the WITV is expected to be between 226 and 276 days from Q1 2025 and generate approximately EUR60m to EUR73m.