Fred. Olsen Windcarrier Signing Contracts – Heavy Lift News
4 Jan 2022

Fred. Olsen Windcarrier Signing Contracts

Today Fred. Olsen Windcarrier (FOWIC) has announced three new contracts for Offshore Wind work and one confirmed order for a new crane to be be installed on the Brave Tern.

The three new contracts and reservation agreements have a combined revenue of up to EUR 80m. The contracts will cover approximately 300 days in 2022 and 200 days in 2023, in both Europe and APAC. Two contracts are linked to projects where FOWIC is already involved.

Following these new contracts, FOWIC’s total revenue backlog stands at approx. EUR 355m of which 18% is linked to options. The yearly distribution of the backlog is 2022: EUR 152m, 2023: EUR 126m and 2024: EUR 77m.

In accordance with the previously announced vessel upgrade program, a firm order for a new 1600t crane for Brave Tern is now placed with Huisman. The installation on the vessel is expected to be completed in 2024.

Separately, as posted yesterday on, ongoing installation and upgrade work on Bold Tern at Keppel Fels is progressing according to plan and budget. The upgrade program will secure continued strong competitiveness of FOWIC’s three existing vessels also for the next generations of turbines coming to the market.


Brave Tern (left) and Blue Tern (right)

Featured Title photograph

Brave Tern in Taiwan

Source Fred. Olsen Windcarrier

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