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1st Quarter Report 2022

Here are the highlights:

  • Strong demand growth, estimated 200 vessels required by 2030, excluding China. Far exceeding existing tonnage and order book of totally 44 vessels
  • Increasing rates as oil & gas tonnage exit offshore wind
  • Increased focus and accelerated pace for the renewable energy transition
  • Nine vessels under construction, ordered at low prices with attractive delivery schedule
  • 55 % increase in revenue versus Q1 2021
  • 100 % utilization with no unscheduled downtime in Q1 2022

Further fleet growth and stable operation in first quarter 2022

The rate at which coastal nations are developing offshore wind is accelerating, and Edda Wind supports the requirement to service tomorrow’s offshore wind parks. It is not only about wind and sea. It is about ensuring affordable renewable energy to support continued economic growth without destroying the environment, it is about power to people and what we pass on to the next generations.

In first quarter 2022 Edda Wind delivers on the strategy of growth by placing further three orders bringing the fleet to a total of eleven purpose built offshore wind vessels – the largest fleet in the world.

The three vessels in operation have had no unscheduled downtime and no injuries to personnel during the quarter.  As two newbuilds will be delivered in Q3 2022 the organization is strengthened within the areas of operations and finance.

The world-wide offshore wind fleet is projected to require almost 200 vessels by 2030.  Edda Wind will remain a leading operator and keep a balanced portfolio of short/medium and long-term contracts.

We are grateful to all stakeholders who have, and continues to, show confidence in Edda Wind and our business model.

Read the entire report by using the download below.

Kenneth Walland