Norwegian project company Moreld ASA (Moreld) has revealed that its subsidiary company Ocean Installer secured two new contracts for the North Sea Giant in 2025, where the vessel will be utilized in the offshore wind market for a cable repair and a cable installation scope.
The contracts are expected to take approximately 3 months of offshore work to complete.
Moreld notes that the two contracts in combination are being between NOK 100 million (about USD$9.93m) and NOK 500 million (about USD$49.65m).
The North Sea Giant is a DP3 construction vessel equipped with a 400-ton Active Heave Compensated (AHC) crane, 150t Vertical Lay Spread system (VLS) and two work class Remotely Operated Vehicles (ROVs) which combined with the vessels large back deck, makes it a great fit for work within the offshore wind sector, as Moreld states.
Ocean Installer has secured a firm charter and optional periods on the vessel running into 2029. Mobilization for the cable repair job has already started, with the next project lined up for the third and fourth quarter this year.
“We are really pleased to see that North Sea Giant in particular is a good fit for projects related to maintenance and installation work for the offshore wind sector. With the ability to serve both the traditional oil & gas and renewable sector, North Sea Giant is the perfect fit for Ocean Installer going into the future,” says Geir Austigard, CEO of Moreld.
