Singapore shipyard group Seatrium has signed a letter of intent with Japan-based Penta-Ocean Construction (POC) to carry out early engineering work for a heavy lift vessel set to operate in the Japanese offshore wind market.
POC, the owner of two turbine installation vessels equipped with an 800t and a 1,600t lifting capacity crane respectively, has expressed an interest to expand its business in the offshore wind sector.
The full EPC contract award for the 5,000t fully-revolving heavy lift vessel is expected in the first quarter of 2025 and is subject to the final investment decision by POC.
“The signing of the LOI with Penta-Ocean Construction marks the start of our close collaboration with our esteemed partner and our very first project for the Japanese offshore wind market,” said William Gu, EVP of Seatrium Energy.
Tetsunori Ohshimo, Senior Managing Executive Officer, Head of the Offshore Wind Construction Business Divisions Group, POC, said: “We are very pleased to have concluded an LOI with Seatrium, regarding the construction of an HLV equipped with a 5,000t fullyrevolving crane.
“The heavy lift vessel is essential for the installation of increasingly heavy monopile foundations due to larger wind turbines. We expect the vessel to make a significant contribution to the development of offshore wind in Japan,” added Tetsunori Ohshimo, senior managing executive officer and head of the offshore wind construction business division at POC.
Seatrium has been on a roll for some time now and has racked up $24.4bn in its net orderbook as of the end of September. It comprises 30 projects with deliveries until 2031.
The Singapore shipyard said in its business report that the outlook for the offshore and marine industry remains positive despite uncertainties in the macroeconomic environment.
“Seatrium achieved a strong order win momentum in the first half and continues to see a healthy pipeline which it is working to convert into firm orders. For the remainder of the year, Seatrium is committed to sustaining its improved financial performance by focusing on completing the legacy projects, executing its order book, and achieving a leaner cost structure,” the company stated.
