Fred. Olsen Windcarrier announces second crane upgrade

Fred. Olsen Windcarrier (FOWIC) has executed a firm contract with Huisman for a second 1600t crane to upgrade one of its installation vessels. Once upgraded, Brave Tern will be able to install foundations and all known next generation offshore wind turbines. Installation is scheduled to be complete in 2024.

A new crane upgrade programme for its existing three vessels has been initiated and will, when completed in 2024/25, secure a fleet able to install 13-15 MW turbines coming to the market in 2024/25. In addition, FOWIC aims to construct a fourth vessel to supplement the existing fleet.

Work is progressing with the first upgrade on
Bold Tern at Keppel Fels in Singapore with planned completion early 2022. The new cranes and sponsons installed will secure enhanced turbine transport and installation capacity and bring the three vessels on a par with announced newbuilds.

“As we announced in 2020, we have initiated an upgrade programme for our existing fleet where Bold Tern is currently undergoing a major upgrade, including replacement of the crane. Brave Tern will be next in line and ready when the next generation turbines enter the market. As a leading turbine installation and service provider we continue to develop our teams and assets in order to remain a trusted partner for our clients in the years to come, as we see significant growth and great potential in offshore wind,”
said Alexandra Koefoed, CEO, Fred. Olsen Windcarrier.

Fred. Olsen Windcarrier also announced that it has recently executed three new contracts and reservation agreements with a combined revenue of up to EUR 80m. The contracts will cover approximately 300 days in 2022 and 200 days in 2023, in both Europe and APAC. Two contracts are linked to projects where FOWIC is already involved.  Following these new contracts, FOWIC’s total revenue backlog stands at approx. EUR 355m of which 18% is linked to options. The yearly distribution of the backlog is 2022: EUR 152m, 2023: EUR 126m and 2024: EUR 77m.

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