Daewoo Shipbuilding and Marine Engineering will be responsible for the construction of the first vessel with delivery scheduled in 2023


Scorpio Bulkers' whole project is estimated to cost about $265-$290m. (Credit: Erich Westendarp/Pixabay)

Scorpio Bulkers, a provider of marine transportation of dry bulk commodities, has signed a letter of intent with Daewoo Shipbuilding and Marine Engineering to build a wind turbine installation vessel (WTIV).

Daewoo Shipbuilding and Marine Engineering will construct the first vessel with delivery scheduled in 2023.

The vessel is a GustoMSC NG-16000X design and includes a 1500 leg encircling crane (LEC) from Huisman Equipment.

The whole project is estimated to cost about $265-$290m and is subject to final design modifications.

Scorpio Bulkers chairman and CEO Emanuele A. Lauro said: “Scorpio Bulkers is embarking on a new and exciting journey.

“The world urgently needs to reduce emissions and offshore wind will make a pivotal contribution.  We appreciate the encouragement and assistance of multiple partners – including suppliers, customers, and shipbuilders – as we take a significant first step in transitioning the Company towards a sustainable future.

“This strategic direction now aligns with our future customers, investors, finance providers and the growing momentum in global public policy.

“At the same time, the Board of Directors carefully considered this project and believes that this transition will result in higher and more predictable shareholder returns in a structural growth market.  Our transition has begun.”

Scorpio Bulkers expected to sign the contract in fourth quarter

The contract, which will include options to build up to three additional units with similar specifications, is expected to be signed in early part of the fourth quarter of this year.

The company said that the vessel will be one of the most sophisticated dedicated turbine installation vessels in the world.

It will have capacity to install onto of pre-prepared foundations wind turbines that are currently designed, at a height of more than 185 meters above sea level and in water depth in excess of 65 meters.

Last month, CSBC-DEME Wind Engineering (CDWE) made a final investment decision to construct a new installation vessel to serve the renewables market.