IWS Fleet, a subsidiary of Integrated Wind Solutions ASA (IWS), has entered into firm construction contracts for four new Skywalker-class commissioning service operation vessels (CSOVs). Deliveries are scheduled for 2029 and 2030. IWS says the four vessels will expand its owned CSOV fleet from six to ten. The announcement also includes options for four additional vessels, which are not firm orders.
What IWS Fleet has contracted
The four firm vessels will be built under fixed-price turnkey contracts with Nantong Rainbow Offshore & Engineering Equipment Co., Ltd. IWS says the vessels will use a Kongsberg Maritime design and will be equipped with three-dimensional motion-compensated cranes and gangway systems supplied by MacGregor Norway AS.
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The contracts cover a commercial shipbuilding programme for offshore-wind service operations, not a consumer product. IWS describes the vessels as an expansion of its Skywalker class. In the announcement, Christopher Andersen Heidenreich, Managing Director of IWS Fleet and COO of Integrated Wind Solutions, said: “Building on the success of our Skywalker class vessels, we are expanding the proven platform that has been highly valued by our customers since the introduction of IWS Skywalker in 2024.”
Firm orders and options are different commitments
| Order status | Vessels | Scheduled deliveries | Included in fleet increase from six to ten? |
|---|---|---|---|
| Firm construction contracts | Four | 2029 and 2030 | Yes, according to IWS |
| Options | Up to four additional vessels | 2030 and 2031 | No; options are not firm deliveries |
The option vessels are offered at the same stated firm prices, subject to adjustment factors for foreign exchange rates and key sub-suppliers. IWS has not described them as contracted newbuildings, so they should not be added to the four-vessel firm order or the announced fleet count.
Price and planned financing
IWS put the firm yard price at approximately EUR 65 million per vessel, or approximately EUR 260 million for all four. The company said it expects to fund the programme with operating cash flow and additional debt, without raising additional equity, while maintaining its ordinary quarterly dividend.
That is the company’s current financing intention, not a finalized financing structure. IWS said the final approach will depend on market conditions, available liquidity, operating cash flow and debt capacity. The stated prices are approximate yard prices; the announcement does not establish a final all-in programme cost.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why IWS says it is expanding the class
IWS says operating a larger fleet of interchangeable, similar vessels will give it more operational and commercial flexibility. It also reports visibility through 2029, excluding options, under a strategic agreement with an existing client in Europe, and says it sees further opportunities in Asia-Pacific. Those points reflect the company’s assessment; the announcement does not independently verify future market demand.
The issuer announcement was published by Integrated Wind Solutions ASA on September 30, 2026, through MFN.se. Read the announcement.
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