DSME expected to sign on $1-bn wind turbine installation vessel contract

2020.10.14 13:45:04 | 2020.10.14 13:46:06

[Photo by Daewoo Shipbuilding & Marine Engineering]이미지 확대

[Photo by Daewoo Shipbuilding & Marine Engineering]

South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) is expected to sign on a contract worth up to $1 billion with Monaco’s Scorpio Bulkers Inc. to build offshore wind farm vessels within this year.

After DSME and Scorpio Bulkers in July signed a letter of intent for a wind turbine installation vessel construction contract, sources in the industry now suspect that they would finally ink the contract to build one wind turbine installation vessel for delivery in 2023, with options to construct up to an additional three units, in the early fourth quarter this year.

The value of each vessel is estimated at up to $290 million, depending on final design modifications. The total value of the project including options could reach up to $1 billion.

A wind turbine installation vessel is a special vessel designed for installation of offshore wind turbines. DSME is among the very few Korean shipbuilders that can build wind turbine installation vessels.

DSME has high hopes pinned on the wind turbine installation vessel market that is expected to grow steadily amid a global shift toward renewable energy sources.

By Song Gwang-sup and Cho Jeehyun

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