The order book for the wind sector just continues getting larger and larger, even as companies continue not to make much money. Wind is the Augustus Gloop segment of offshore, gorged on investment, like the character in Roald Dahl’s Charlie and the Chocolate Factory, but liable to fall into a...
eneti
COLUMN | Where the wind blows, part 2: Shell, Cadeler, HEA Energy, Cyan Renewables, Edda Wind, Norwind and Norside [Offshore Accounts]
In Part One last week, we looked at the paradox of offshore wind, a segment that is growing without profit for many players. This contrasts with offshore oil and gas, which has shrunk but has become intensely profitable for rig and vessel operators, and for the oil companies themselves. Whereas offshore oil and gas companies […]
The post COLUMN | Where the wind blows, part 2: Shell, Cadeler, HEA Energy, Cyan Renewables, Edda Wind, Norwind and Norside [Offshore Accounts] appeared first on Baird...
Cadeler books Baltica 2 wind turbine installation contract
Copenhagen, Denmark, headquartered offshore wind farm installation specialist Cadeler (OSE: CADLR; NYSE: CDLR) has booked a major contract in Poland. Awarded by Ørsted and PGE Polska Grupa Energetyczn, it covers the transport and installation of 14 MW Siemens Gamesa wind turbines at Baltica 2. Planned to deliver 1.5 GW capacity by the end of 2027, Baltica 2 is one of two stages of the Baltica Offshore Wind Farm.
The Baltica 2 wind farm will be situated in the Polish part of the Baltic Sea...
Eneti Secures Green Loan for Newbuild Wind Turbine Installation Vessels
Eneti Inc. (NYSE: NETI) announced today that it has successfully executed a senior secured green term loan facility worth up to $436.0 million. The loan will help finance approximately 65%…
https://gcaptain.com/eneti-secures-green-loan-for-newbuild-wind-turbine-installation-vessels/
Cadeler Launches Offer to Forge Offshore Wind Installation Giant with Eneti
Cadeler A/S (OSE: CADLR) has announced the launch of a share exchange offer for all outstanding shares of common stock of Eneti (NYSE: NETI), part of a transaction that will…
https://gcaptain.com/cadeler-eneti-offer-offshore-wind-installation-giant/
COLUMN | Wind wobbles – follow the money: Ørsted and BP make write-offs; Siemens Energy seeks aid; MingYang gets massive; Fredriksen’s Edda and ex-Havila hedges; Rickmers and Diana Shipping enter wind [Offshore Accounts]
“Our wind industry, for instance, is a European success story,” European Commission President Ursula von der Leyen recently said. “But it is currently facing a unique mix of challenges.” We’re no fan of Ms von der Leyen, a nepo-baby whose incompetence as German Defence Minister was rewarded not with the sacking she so richly deserved, […]
Eneti Wins Contract for Newbuild Wind Turbine Installation Vessel
Offshore wind installation company Eneti Inc. (NYSE:NETI) announced today that its wholly-owned subsidiary, Seajacks UK Limited, has secured a contract with an undisclosed client for the transportation and installation of…
https://gcaptain.com/eneti-wins-contract-for-newbuild-wind-turbine-installation-vessel/
Eneti Lands Contract for Newbuild WTIV at Attractive Dayrate
Offshore wind installation vessel (WTIV) shipowner Eneti Inc. (NYSE:NETI) has announced a new vessel reservation contract for Seajacks UK Limited for one of its newbuild WTIVs at an attractive dayrate….
https://gcaptain.com/eneti-lands-contract-for-newbuild-wtiv-at-attractive-dayrate/
COLUMN | Predictable outcomes: a certain wind turbine installation company; Cyan Renewables and DEME; Global Marine and CWind [Offshore Accounts]
Never believe what a company’s managers tell you. Always verify yourself, especially if the company is headquartered in Monaco and is run by a management team with a past reputation for underperformance in the offshore sector. Who could we be talking about? Imagine a company where the management team paid themselves a US$30 million bonus […]
COLUMN | Quick updates: China’s coal addiction; offshore wind’s cost problem; justice in Mozambique; dumb money [Offshore Accounts]
Sometimes it seems that nothing makes sense when it comes to energy transition. Global warming induces more coal to be burnt, Saudi Aramco reports record profits as wind ..