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OHT appoints Executive Board Member

By: Tom Russell 21/08/2020 OHT

General Vessels

OHT has announced the appointment of Rune Magnus Lundetræ as Executive Board Member. It follows an announcement last month, that OHT is targeting the offshore wind turbine installation sector, through the company’s wholly owned subsidiary VIND Offshore Installation AS.

Lundetræ graduated as Certified Public Accountant (Statsautorisert Revisor) from Norwegian School of Management (NHH) in 2004. He also holds a M.Sc. in Management from London School of Economics and a B.A (Hons) in Finance from University of Newcastle (UK).

Rune Magnus Lundetræ is the founder of VIND Offshore Installation AS and its concept and business model. He served as Deputy Chief Executive Officer and Chief Financial Officer of Borr Drilling Ltd. from December 2016 to December 2019. From August 2015 to December 2016, he was Managing Director and Head of Oil Services of DNB Markets, the investment banking subsidiary of DNB, Norway’s largest financial services group. From 2012 to June 2015, he served as Chief Financial Officer of Seadrill Ltd, the world’s largest offshore driller.

At the end of July, OHT entered into a binding agreement with China Merchants Heavy Industry (CMHI) in Jiangsu, China for the construction of two Wind Turbine Generator (WTG) installation vessels with options for a further two units, through its wholly owned subsidiary VIND Offshore Installation AS.

The vessels will be jack-ups of GustoMSC's design, and will be prepared to handle the next generation WTGs, each featuring a telescopic crane with maximum capacity of 2,500 tons and a maximum lifting height of approximately 165m. The units will be capable of installing in water depths up to 65m. Special emphasis has been placed on providing a class-leading environmental footprint by way of energy and heat recovery, battery hybrid solutions as well as a sophisticated electrical and control system, reducing CO2 emissions by 20% compared to similar units. As a future option, the vessels have been prepared for fuel cells powered by hydrogen to be installed to cut emissions even further. The first unit is scheduled to be delivered in early 2023.

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OHT appoints Executive Board Member

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