IWS Places $300M Order for Four New Skywalker-Class CSOVs
Integrated Wind Solutions (IWS) subsidiary IWS Fleet has ordered four Skywalker-class commissioning service operation vessels (CSOVs) for a combined firm yard price of around $301 million (€260 million), expanding its owned fleet from six to 10 CSOVs.
The four vessels, priced at around $75 million (€65 million) each, will be built by Nantong Rainbow Offshore & Engineering Equipment and delivered in 2029 and 2030 under fixed-price turnkey contracts.
IWS Fleet has also secured options for another four vessels at the same firm prices, with deliveries scheduled for 2030 and 2031, subject to certain adjustments for foreign exchange rates and key sub-suppliers.
The newbuilds will be based on a Kongsberg Maritime design and equipped with three-dimensional motion-compensated cranes and gangway systems supplied by MacGregor Norway.
IWS plans to finance the four firm vessels through a combination of operating cash flow and additional debt, without raising new equity, while maintaining its ordinary quarterly dividend in line with its dividend policy.
Payments will be made in instalments during construction, with the remaining 50% due on delivery. The final financing structure will depend on market conditions, liquidity, operating cash flow and debt capacity.
“Building on the success of our Skywalker class vessels, we are expanding the proven platform that has been highly valued by our customers since the introduction of IWS Skywalker in 2024. This expansion from six to ten vessels enables us to bring the quality, reliability and performance that IWS Fleet is known for to a broader range of projects, while growing alongside our clients.
“We look forward to working closely with the experienced team at Nantong Rainbow Offshore & Engineering Equipment shipyard to ensure the vessels are delivered on time and on budget,” said Christopher Andersen Heidenreich, Managing Director of IWS Fleet and COO of Integrated Wind Solutions.
IWS Fleet has project visibility through 2029, excluding options, under a strategic agreement covering Europe with an existing client, as well as potential opportunities in the Asia-Pacific region.
