Investor News

3 June 2023

NKT names new market leading cable laying vessel able to run on methanol

NKT has named its second cable laying vessel NKT Eleonora meaning shining light. She will boost the company’s offshore cable laying capacity, flexibility and be amongst the world’s first cable laying vessels designed to run on methanol reducing the carbon footprint of her operations.

The high-voltage power cable market has grown significantly in recent years and the outlook remains positive driven by the transition to renewable energy and electrification of societies. Transmission lines are becoming larger, longer and with an increasing focus on lower power losses which is setting new standards for cable production and installation.

In May 2023, on the back of a record order backlog and the strong market outlook, NKT announced investments in a new high-voltage factory on the existing site in Karlskrona and a new market leading vessel. The design of the vessel has now been done by Salt Ship Design and the construction is underway in collaboration with the Norwegian shipyard VARD.

- We are very pleased to welcome NKT Eleonora to our fleet. She is an important strategic asset which enhances our installation capacity and capabilities to ensure efficient project execution and meet the evolving demands of our clients. The decision to build a vessel designed to run on methanol is driven by our strong commitment to sustainability and connecting a greener world through our power cable solutions, says Darren Fennell, Executive Vice President and Head of HV Solutions Karlskrona in NKT.

Building upon the operational experience and cutting-edge technology featured on NKT Victoria, the NKT Eleonora will represent the next generation in terms of design and capabilities. Equipped with three turntables, she will offer a power cable-laying capacity of 23,000 tonnes and host a large range of subsea tooling for precise installation and service of offshore cables.

The vessel will be constructed in parallel with NKT expanding its site in Karlskrona with a new high-voltage offshore cable factory. Both assets are expected operational from 2027.

NKT Eleonora key facts:

• Cable laying capacity: 23,000 tonnes on 3 turntables
• Dimensions: Length 176 meters, breadth 32 meters
• Schedule: Vessel is expected operational from 2027
• Fuel: Dual fuel. Methanol and HVO/marine diesel oil
• Engines: Wärtsilä 32 Methanol Engines  
• Shipyard: VARD, a Norwegian designer and builder of specialized vessels
• Design: Salt Ship Design
• Main suppliers: ABB (Onboard DC Grid power system and aft Azipod electrical propulsion), Wärtsilä (engine maker, front tunnel and azimuth thruster),
  NOV REMACUT (cable lay system, cranes and mission equipment)
• Name: NKT Eleonora means shining light and is a reference to NKT’s central position in transmitting power through its cable solutions and to the bright future ahead of the company driven by the growth journey. Further, Ulrika Eleonora was a Danish princess with a German mother who became the queen of Sweden and her strong Nordic roots represents NKT’s Nordic heritage and strong presence across the Northern European countries.
  
  

Contact
Investor Relations:         Jonas Kolby, Head of Investor Relations (interim)
                                    +45 5370 7431 / jonas.kolby@nkt.com

Press:                           Pelle Fischer-Nielsen, External Communications Lead
                                   +45 2982 0022 / pelle.fischer-nielsen@nkt.com