Seajacks UK Limited, a wholly-owned subsidiary of Eneti Inc. and a leading provider of installation and maintenance vessels to the offshore wind sector, has signed a vessel reservation agreement with an undisclosed client to transport and install turbines.

With mobilisation commencing in the first quarter of 2027, the contract will be performed by one of the Company’s two NG16000X Wind Turbine Installation Vessels currently under construction at Hanwa Ocean in South Korea. The engagement is expected to be between 210 and 245 days and generate approximately USD 87 million to USD 100 million of gross revenue, inclusive of mobilisation and demobilisation. Project costs are expected to be USD 15 million in aggregate.

Emanuele Lauro, CEO of Eneti, says, “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.”

Image source: Courtesy of Eneti Inc.

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