Broker Clarkson Platou Securities has reported today (2 March 2021) that Norwegian shipowner Awilco is entering the offshore wind industry
Awilco is based in Oslo and has a portfolio of investments in the shipping and offshore sector. It has a long track record in the offshore and oil service segments and extensive inhouse commercial and technical competence. It is a wholly-owned subsidiary of Awilhelmsen AS.
Awilco is establishing Integrated Wind Solutions, a company set up to deliver installation and maintenance services for offshore windfarms with a fleet of construction and service operation vessels (CSOVs).
Formuesforvaltning head of equities Lars-Henrik Røren has been hired to lead the new company.
According to the broker, Awilco has already ordered two CSOVs with delivery set for H1 2023. The deal includes options for an additional four ships. The contract to build the vessels is understood to have been awarded to China Merchants Heavy Industry.
“While the cost per ship is undisclosed, we expect the ships may cost about €40M (US$48M) each,” the broker said.
Awilco is also behind Oslo-listed companies Awilco Drilling and Awilco LNG. The family behind Awilco was instrumental in the founding of Royal Caribbean Cruise Lines and still owns about 10% of the company’s shares.
In a statement on social media, Mr Røren said he would start work in his new role on 1 April 2021. He said Awilco has major growth ambitions in the offshore wind market.
Awilco has been approached for comment.