Ocean Installer vessel scores offshore wind cabling work

Marine construction contractor Ocean Installer, a subsidiary of Moreld, has announced the successful acquisition of two substantial contracts for the North Sea Giant subsea construction vessel. The 2011-built vessel will play a crucial role in the offshore wind sector, focusing on cable repair and installation projects. With mobilization already underway, the work is anticipated to span approximately three months, with additional projects expected later this year.

Details of the Contracts

Ocean Installer’s recent contracts involve significant operations in the offshore wind market. The North Sea Giant, a DP3 construction vessel, is equipped with advanced technology including a 400-ton active heave-compensated crane and a 150-ton vertical lay spread system. Additionally, it features two work-class remotely operated vehicles (ROVs), enhancing its capability to undertake complex subsea tasks.

While the exact financial details remain undisclosed, the contracts are estimated to fall within the NOK 100 million to NOK 500 million range, equivalent to approximately $10 million to $50 million. This substantial investment underscores the growing demand for offshore wind energy solutions and highlights Ocean Installer’s strategic positioning in the market.

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Mobilization for the initial cable repair project has already commenced, setting the stage for subsequent work planned for the third and fourth quarters of this year. Furthermore, Ocean Installer has secured a firm charter for the vessel, along with optional periods extending through to 2029. This long-term commitment reflects the company’s confidence in the future of offshore wind energy and its dedication to expanding its operational capacity in this vital sector.