Dutch private player orders turbine installation vessel
On Friday, the Dutch family-owned company Van Oord announced it has ordered a newbuild offshore wind installation vessel capable of installing up to 20MW turbines and thus be amongst the largest newbuilds ordered to date. No purchase price for the newbuild was revealed, but the company says the investment is part of a EUR1bn fleet investment programme over the next five years, suggesting we will see further reinforcements in its offshore wind installation fleet going forward. This newbuild brings the competitive supply of WTIVs in Europe to eight versus our demand forecast (based on known projects) of 9-12 on average on 2025-30. From the perspective of Cadeler and Seaway7, another newbuild is marginally on the negative side, but at the same time we consider it good for the competitive situation that it is ordered by an established player and not a newcomer.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.