Lamprell completes and delivers new wind turbine vessel

Lamprell has completed the construction of a wind turbine installation vessel known as Windcarrier 2 Bold Tern, an update from the company has shown.

Lamprell has completed the construction of a wind turbine installation vessel known as Windcarrier 2 Bold Tern, an update from the company has shown.

The company, which provides diversified engineering and contracting services to the oil, gas and renewables industry, further stated that it had delivered the vessel to the client, Fred Olsen.

The completion and delivery of the vessel, five months after the delivery of its sister vessel, the Windcarrier 1 "Brave Tern", was marked with a ceremony at Lamprell's Jebel Ali facility in the United Arab emirates, attended by members of the Olsen family and senior executives from Fred Olsen and Lamprell.

The vessel is expected to depart to its operating location in the North Sea later this week.

The group has now completed a total of five new build offshore wind turbine installation vessels with a sixth vessel currently under construction. Aside from the two Fred Olsen vessels, three others were delivered to Seajacks with one more under construction.

Commenting on the delivery, Peter Whitbread, Chief Executive Officer, Lamprell, said: "I am delighted to make delivery of the 'Bold Tern' to her new owners. The project has been highly complex with significant challenges which we have overcome."

Lamprell's share price was unchanged at 148.25p at 09:48 on Monday.

MF

Recommended

The top funds to invest in now
Funds

The top funds to invest in now

As market volatility continues, here are the top funds, stocks and investment trusts investors are putting their money into, according to one investme…
2 Dec 2022
7 sin stocks to buy yielding up to 8%!
Share tips

7 sin stocks to buy yielding up to 8%!

Sin stocks don’t have the best reputation, but when it comes to investment returns, they’re certainly worth a closer look.
2 Dec 2022
Share tips of the week – 2 December
Share tips

Share tips of the week – 2 December

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
2 Dec 2022
3 emerging-market stocks to watch
Share tips

3 emerging-market stocks to watch

The top emerging-market stocks to keep an eye on, according to Union Bancaire Privée’s Eli Koen.
1 Dec 2022

Most Popular

Is it cheaper to leave the heating on low all day?
Personal finance

Is it cheaper to leave the heating on low all day?

The weather is getting colder and energy bills are rising, but is it really cheaper to leave the heating on low all day or should you only turn it on …
1 Dec 2022
Radiator vs electric heater – which is cheaper?
Personal finance

Radiator vs electric heater – which is cheaper?

We compare the costs, pros and cons of radiators and electric heaters and see which one will help keep your energy bill as low as possible.
28 Nov 2022
The pros and cons of smart meters – should you switch?
Personal finance

The pros and cons of smart meters – should you switch?

A smart meter can help you keep tabs on your energy usage, but is it better than a regular meter? We take a look at smart meters vs regular meters.
2 Dec 2022