IWS issues first dividend, highlights cross-sector demand

IWS chief executive Lars-Henrik Røren said IWS was reporting record net profit in the quarter. He described the cash dividend the company has declared of Nkr3.00 (US$0.31) per share as “a significant milestone,” which sees it returning cash “to our supportive shareholders.” Mr Røren said IWS Fleet “continues to deliver strong performance for our clients, with 100% commercial uptime, generating solid earnings for the owners.”

Publishing an interim financial report for Q4 2025, the company said the market for commissioning service operation vessels (CSOVs) and service operation vessels (SOVs) remains healthy, with strong utilisation across the company’s fleet, and growing demand for CSOVs in the offshore oil and gas market.

Mr Røren noted that although brokers had reported some market softening as vessels were redelivered from summer campaigns without immediate work secured, activity had picked up significantly in November and December, absorbing available vessels.

The company highlighted that as offshore wind projects continue to drive the demand for CSOVs and SOVs, the offshore oil and gas sector is also becoming an increasingly active one for vessels of this type.

In Q4 2025, said IWS, broker Clarksons highlighted "significantly increased demand" from the oil and gas market, with oil and gas majors emerging as sizeable takers of CSOV capacity and Brazil appearing as a repeat taker for the third consecutive quarter.

IWS noted that Clarksons expects more CSOV tonnage to be absorbed outside offshore wind going forward, continuing a trend in which oil and gas companies increasingly charter purpose-built offshore wind vessels.

“The market for CSOVs and SOVs continues to demonstrate attractive growth potential,” said IWS. “With an increasing number of offshore wind projects that are growing in both size, complexity, and distance from shore, requiring additional CSOV days, demand for vessels is expected to increase in the coming years.”