LogIn LogOut

Fred. Olsen Windcarrier Reels In $90,5M in New Contracts

January 5, 2022

Credit: FOWIC
Credit: FOWIC

Offshore wind installation firm Fred. Olsen Windcarrier (FOWIC) said Tuesday it had recently executed three new contracts and reservation agreements with combined revenue of up to 80 million euros (~$90,5 million).

The contracts, with undisclosed clients, will cover around 300 days in 2022 and 200 days in 2023, in both Europe and the Asia Pacific.

Two contracts are linked to projects where Fred. Olsen Windcarrier is already involved.  

Following these new contracts, FOWIC’s total revenue backlog stands at around 355 million euros (~$401,8 million) of which 18% is linked to options. 

The yearly distribution of the backlog is 152 million euros in 2022,126 million euros in 2023, and 77 million euros in 2024.

Also, as reported Tuesday, FOWIC placed a firm order for a new 1600t crane for the Brave Tern jack-up unit upgrade.

The installation on the vessel is expected to be completed in 2024.  Separately,  ongoing installation and upgrade work on Bold Tern at  Keppel Fels is progressing according to plan and budget. 

"The upgrade program will secure the continued strong competitiveness of FOWIC’s three existing vessels also for the next generations of turbines coming to the market," FOWIC said.



Current News

Kuwait's KUFPEC Makes First Operated Offshore Discovery in Indonesia

Kuwait's KUFPEC Makes First Operated Offshore Discovery in Indonesia

INPEX Books HAKURYU-5 Semi-submersible Drilling Rig for Japan Offshore Drilling Project

INPEX Books HAKURYU-5 Semi-submersible Drilling Rig for Japan Offshore Drilling Project

Blue Petra Orders Fast Crew Boat from Strategic Marine

Blue Petra Orders Fast Crew Boat from Strategic Marine

"Triple deficit": Morgan Stanley Expects $100 a Barrel in 2H 2022

"Triple deficit": Morgan Stanley Expects $100 a Barrel in 2H 2022

Australia: Santos Bullish on Prices after Reaping Record Revenue

Australia: Santos Bullish on Prices after Reaping Record Revenue

HeliService to Provide Offshore Helicopter Services for Vestas in Taiwan

HeliService to Provide Offshore Helicopter Services for Vestas in Taiwan

Japanese Firms Team Up to Reduce Cost of Floating Offshore Wind

Japanese Firms Team Up to Reduce Cost of Floating Offshore Wind
photo

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com