Eneti’s Seajacks pens offshore wind turbine installation contract

Emanuele Lauro-led offshore wind vessels player Eneti announced that its subsidiary Seajacks has signed a vessel reservation agreement with an undisclosed client to transport and install offshore wind turbines.

The Monaco-based owner and operator said that it would use one of the two NG16000X wind turbine installation vessels currently under construction at Hanwa Ocean in South Korea for the project. Mobilisation is expected to begin in the first quarter of 2027.

Inclusive of mobilization and demobilization, the engagement is expected to be between 210 and 245 days and generate between $87m and $100m of gross revenue. Project costs are expected to be $15m in aggregate.

“Through the ability to employ either of our two newbuilds this project provides both maximum flexibility and accretive future cash flows. With net revenues approaching $350,000 per day, the contract reflects the improving fundamentals of offshore wind and current market conditions,” Lauro said.

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