IWS Orders Four Skywalker-Class CSOVs from Chinese Shipyard for €260 Million

Integrated Wind Solutions (IWS), a company listed in Oslo, announced through its subsidiary IWS Fleet the signing of fixed-price contracts for the construction of four new Skywalker-class CSOVs (Commissioning Service Operation Vessels) at the Chinese shipyard Nantong Rainbow Offshore & Engineering Equipment. The deal, valued at €260 million, covers deliveries during 2029 and 2030 and will bring IWS Fleet's owned fleet from six to ten vessels.

The new vessels will be based on Kongsberg Maritime's UT 5519 DEx design, which represents the next generation of the Skywalker class and draws on operational experience from the first six vessels delivered since 2023. Kongsberg Maritime will supply the naval design and integrated technology solutions, including electrical, navigation, propulsion, deck machinery and dynamic positioning systems, featuring rim-driven azimuth thrusters. Each vessel will have capacity to accommodate up to 120 people. For its part, MacGregor will equip the four CSOVs with 3D motion-compensated cranes and Horizon gangway systems, an order the Swedish firm booked in its fourth-quarter 2026 order intake.

According to Splash 247, each vessel carries a price of approximately €65 million, and IWS also secured options for four additional CSOVs at the same firm prices, with delivery windows in 2030 and 2031, subject to adjustment mechanisms for exchange rates and key suppliers. Should all options be exercised, the fleet would reach 14 CSOVs. The company stated it will finance the programme through operating cash flow and additional debt, without the need to issue new equity, and that half of the shipyard price will be paid on delivery.

This order marks the second significant round of fleet expansion for IWS, whose first six Skywalker vessels were built at China Merchants and have all now been delivered. IWS owns around 75% of IWS Fleet, while Japan's Sumitomo Corporation holds the remainder after investing €60 million in the business in 2024. In June, the company had added around 120 charter days and €6 million to its 2026 order book, bringing contracted utilisation for the final three quarters of the year to 94%, including options.