IWS: IWS Fleet orders four Skywalker class CSOV newbuildings, with no new equity planned and ordinary dividends maintained
2026-09-30 12:22:21
Integrated Wind Solutions ASA ("IWS") announces that its subsidiary, IWS Fleet,
has entered into contracts for the construction of four new Skywalker class
Commissioning Service Operation Vessels ("CSOVs"). Upon delivery, the four
newbuildings will increase IWS Fleet's owned fleet from six to ten CSOVs,
further strengthening the Company's position in the offshore wind service vessel
market and expanding its capacity to serve customers across the installation and
commissioning phases of offshore wind projects.
"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 Co., Ltd shipyard to ensure the vessels are
delivered on time and on budget." says Christopher Andersen Heidenreich,
Managing Director of IWS Fleet and COO of Integrated Wind Solutions ASA.
The newbuildings will be based on a Kongsberg Maritime design and equipped with
three-dimensional motion-compensated cranes and gangway systems supplied by
MacGregor Norway AS. Building on the success and learnings from the Skywalker
class CSOV, the new vessels will continue to raise the bar for performance,
safety and reliability. The expanded fleet of ten Skywalker-class vessels will
enhance the operational and commercial flexibility to meet client demand, while
IWS Fleet will leverage the benefits of having a fleet of interchangeable and
similar vessels.
The vessels are scheduled for delivery in 2029 and 2030 under fixed price
turnkey contracts with Nantong Rainbow Offshore & Engineering Equipment Co.,
Ltd. The newbuilding program builds on IWS Fleet's proven track record, key
personnel and experience from the previous successful newbuilding project. The
delivery schedule aligns well with the fundamentals of the offshore wind
industry, where vessel demand is expected to experience strong growth. Apart
from IWS Fleet's four-vessel order, only one CSOV has been ordered for delivery
in 2029 or later.
IWS Fleet already has visibility through 2029 (excluding options) through its
strategic agreement for the European region with an existing client, and further
opportunities to engage in projects across the Asia-Pacific region. These
newbuildings will be a strategic enabler to continue to grow with our clients
and follow them into new markets.
The firm yard price is around EUR 65 million per vessel, corresponding to an
aggregate firm yard price of around EUR 260 million for the four vessels. IWS
intends to finance the vessels without raising additional equity whilst
maintaining its ordinary quarterly dividend in line with the dividend policy.
The Company expects to fund the newbuilding programme through a combination of
cash generated from operations and additional debt. The payment terms follow
customary industry standards, with instalments paid during construction and the
remaining 50% payable upon delivery. The final financing structure will depend
on, among other factors, market conditions, available liquidity, operating cash
flow and debt capacity.
In addition to the four firm newbuildings, IWS Fleet has secured options for
four additional vessels at the same firm prices with scheduled delivery in 2030
and 2031, subject to certain adjustment factors for changes in foreign exchange
rates and key sub-suppliers.
"We are excited to grow IWS Fleet from six to ten CSOVs, taking a leading role
in the dedicated CSOV market, together with our strategic partner Sumitomo
Corporation. This growth will strengthen our earnings potential for the benefit
of all shareholders. Our current business plan is to double the EPS when the
full fleet is in operation, and to finance the expansion without raising
additional equity, while continuing to pay an ordinary quarterly dividend to
shareholders. This newbuilding order is the next step towards our ambition of
providing efficient vessel and other services to the offshore wind industry."
says Lars-Henrik Røren, CEO of Integrated Wind Solutions ASA.
For investor relations queries, contact
Marius Magelie
Group CFO, Integrated Wind Solutions
Phone: +47 920 27 419
E-mail: mm@integratedwind.com
For press queries, please contact
Lars-Henrik Røren
CEO Integrated Wind Solutions
Phone: +47 98 22 85 06
E-mail: lhr@integratedwind.com
This information is subject to a duty of disclosure pursuant to Section 5-12 of
the Norwegian Securities Trading Act. This information was issued as inside
information pursuant to the EU Market Abuse Regulation, and was published by the
Company's CFO, Marius Magelie, on the date and time provided.
About IWS:
Integrated Wind Solutions ASA offers a fleet of state-of-the-art service vessels
to the offshore wind industry, combined with a suite of adhering services. The
Company owns approximately 75% of IWS Fleet, which owns six Commissioning
Service Operation Vessels and has four newbuildings on order. Furthermore, IWS
owns the offshore wind supply-chain service company, IWS Services A/S, and a 49%
shareholding in the independent advisor, consultancy, data intelligence, and
wind farm operator PEAK Wind Group.
Integrated Wind Solutions ASA is listed on Euronext Oslo Børs under the ticker
"IWS".
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wind farm operator PEAK Wind Group.\
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Integrated Wind Solutions ASA is listed on Euronext Oslo Børs under the ticker\
"IWS".\