IWS Fleet Strikes Deal to Put Off Yard Payments for Offshore Wind Service Vessels

Integrated Wind Solutions’ subsidiary, IWS Fleet AS, has agreed with the shipyard China Merchants Industry Holdings to postpone equity yard installments of a total of 36 million euros on IWS Seawalker, IWS Starwalker, IWS Moonwalker, and IWS Sunwalker offshore wind service vessels up to one year, to strengthen the company’s liquidity position.

The delivery schedules for IWS Windwalker, IWS Seawalker, and IWS Sunwalker vessels are unchanged, while IWS Moonwalker and IWS Sunwalker are moved forward by one month.

Furthermore, Integrated Wind Solutions said its IWS Skywalker started its sea trials on September 17 in preparation for delivery in the fourth quarter.

The vessel will start the first out of three Dogger Bank (UK) contracts after delivery.

“In addition, IWS is in discussions with clients for IWS Windwalker, and the company expects to enter a charter contract prior to the delivery of the vessel. IWS has a strong cash position and favorable debt financing in place for the first four newbuildings,” the company said.

Yangzijiang Shipbuilding

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