Integrated Wind Solutions (IWS) has recently ordered four new Skywalker-class commissioning service operation vessels (CSOV) valued at 260 million euros (equivalent to 295 million dollars). These tankers will be built at the Nantong Rainbow Offshore & Engineering Equipment factory in China.
Contract Details
According to available information, IWS Fleet, a subsidiary of Integrated Wind Solutions, has signed fixed-price turnkey construction contracts for these four tankers. The delivery dates for these tankers are scheduled for 2029 and 2030, with the price of each vessel being approximately 65 million euros (equivalent to 74 million dollars). With this order, the number of IWS-owned tankers will increase from six to ten.
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Fleet Expansion and Future Plans
IWS has also secured the option to order four additional tankers at similar prices, with delivery dates set for 2030 and 2031. This plan is subject to adjustment mechanisms including currency fluctuations and main suppliers. If all these options are executed, the total number of IWS tankers will increase to 14.
The new tankers are designed based on the Skywalker platform, supplied by Kongsberg Maritime, and will include 3D motion-compensated cranes and access bridges provided by MacGregor Norway. IWS has stated that it will finance this expansion through operational cash flow and additional debt, proceeding without new capital investment.
This move marks a significant second round of fleet expansion for IWS. The first six Skywalker tankers built by the company were constructed at the China Merchants factory and have now been delivered. In June, the company added approximately 120 days of charter and 6 million euros to its backlog for 2026, bringing the contracted utilization for the last three quarters of the year to 94 percent.
IWS owns about 75% of IWS Fleet, and with a 60 million euro investment in this business in 2024, Japan's Sumitomo Corporation holds the remaining 25%.
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