Latest news with #WindPeak
Yahoo
13-05-2025
- Yahoo
Captain comes home on the 'biggest' ship around
The captain of a huge ship docked in Hull has described it affectionately as "the biggest and baddest" around. Robert Southwell, from the Beverley area, is master of the Wind Peak, a purpose-built vessel that is being used to transport components to the Sofia offshore wind farm in the North Sea. He said he was proud to be back in Hull after spending 20 years at sea. "We plan to be on this project for the next year and it is certainly nice for me, being local, to come in and out of Hull," he added. "It's the first time I have done it other than [on] the ferry." The BBC's Richard Stead was shown around the vessel, which is 162m (530ft) long and 60m (196ft) wide. It was built for Cadeler, a Danish firm that installs offshore wind farms, and left a shipyard in China last summer before arriving in Hull in March. The Wind Peak is so large, it can carry enough equipment to build six turbines at a time. Mr Southwell and his crew construct them and then connect them to the grid. They live on the ship for four weeks at a time, before taking four weeks' leave. Mr Southwell admitted he is looking forward to being closer to his wife, 21-month-old son and relatives in East Yorkshire, after being so far away from home at sea. "I enjoy the fact that many of my friends and relatives can see the vessel from their homes," he added of the new local landmark. Mr Southwell said it took about 14 hours for the Wind Peak to reach the Dogger Bank, where the farm is being built. "It is a fair way out, but there's a lot of activity out of there," he added. "Interestingly for this area, the electricity that's generated by these turbines runs through the substation ashore at Skipsea and then up to Creyke Beck [in Cottingham], and that's where it's plugged into the National Grid." Listen to highlights from Hull and East Yorkshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here. Huge ship set to carry turbines to North Sea farm Turbine ship sets sail on maiden wind farm voyage RWE Siemens Gamesa Sofia Wind Farm
BBC News
13-05-2025
- Entertainment
- BBC News
Wind Peak is the 'biggest and baddest' ship around, says captain
The captain of a huge ship docked in Hull has described it affectionately as "the biggest and baddest" Southwell, from the Beverley area, is master of the Wind Peak, a purpose-built vessel that is being used to transport components to the Sofia offshore wind farm in the North said he was proud to be back in Hull after spending 20 years at sea."We plan to be on this project for the next year and it is certainly nice for me, being local, to come in and out of Hull," he added. "It's the first time I have done it other than [on] the ferry." The BBC's Richard Stead was shown around the vessel, which is 162m (530ft) long and 60m (196ft) was built for Cadeler, a Danish firm that installs offshore wind farms, and left a shipyard in China last summer before arriving in Hull in March. The Wind Peak is so large, it can carry enough equipment to build six turbines at a time. Mr Southwell and his crew construct them and then connect them to the grid. They live on the ship for four weeks at a time, before taking four weeks' Southwell admitted he is looking forward to being closer to his wife, 21-month-old son and relatives in East Yorkshire, after being so far away from home at sea. "I enjoy the fact that many of my friends and relatives can see the vessel from their homes," he added of the new local landmark. Mr Southwell said it took about 14 hours for the Wind Peak to reach the Dogger Bank, where the farm is being built."It is a fair way out, but there's a lot of activity out of there," he added. "Interestingly for this area, the electricity that's generated by these turbines runs through the substation ashore at Skipsea and then up to Creyke Beck [in Cottingham], and that's where it's plugged into the National Grid."Listen to highlights from Hull and East Yorkshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
Yahoo
26-03-2025
- Business
- Yahoo
Cadeler AS (CADLF) (FY 2024) Earnings Call Highlights: Doubling Revenue and Strategic Growth in ...
Release Date: March 25, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Cadeler AS (CADLF) reported strong financial performance for 2024, with revenue doubling from the previous year. The company successfully delivered the Wind Peak and the first M-class vessel on time and on budget, demonstrating effective project management. Cadeler AS (CADLF) has a robust backlog of over EUR 2.5 billion, with 94% of projects having a final investment decision, providing strong earnings visibility. The company has expanded its capacity with improved refinancing terms and increased credit facilities, supporting future growth. Cadeler AS (CADLF) is well-positioned in the European offshore wind market, which remains a key driver of global growth in the industry. The company faces challenges with the high cost and limited availability of new build vessels, impacting future expansion plans. There are political and operational complexities in the North American market, which could affect project execution and profitability. Cadeler AS (CADLF) has not committed to paying dividends in the medium term, which may be a concern for income-focused investors. The company is experiencing increased SG&A costs as it ramps up its organization to support future projects, impacting short-term profitability. There is a risk of lower margins from foundation TNI projects due to the nature of the services provided before installation begins. Warning! GuruFocus has detected 5 Warning Signs with CADLF. Q: Can you discuss the demand and contract economics for the Operations and Maintenance (O&M) market, and how it impacts vessel utilization for 2025 and beyond? A: The O&M market is experiencing strong demand, similar to the installation market, due to supply-demand dynamics. Clients are increasingly interested in longer-term commitments and frame agreements. This demand helps maintain high vessel utilization and is expected to continue into 2026 and beyond. (Respondent: CEO) Q: What are the prospects for new builds in the industry, considering the high number of orders in previous years and current market conditions? A: The market for new builds is challenging due to limited shipyard capacity and increased costs, with prices rising 30-45% since 2021. It's difficult for companies to justify new orders given the current high prices, longer lead times, and industry challenges. (Respondent: CEO) Q: How should we think about the 2025 guidance, particularly regarding the timing of new vessel deliveries? A: The guidance is influenced by the timely delivery of new vessels. The first new build for 2025 was delivered early, and the second is ahead of schedule. While there are moving parts, a significant portion of utilization capacity is already secured, and additional opportunities are being explored. (Respondent: CEO) Q: Can you elaborate on the European market's role in Cadeler's growth, and which countries present the greatest opportunities? A: The European market, particularly the North Sea and Baltic Sea regions, is a major growth driver. The UK leads in activity, with significant opportunities also in Germany, Denmark, and Poland. The region remains focused on strong growth and demand for offshore wind projects. (Respondent: CEO) Q: With the delivery of new vessels, how is Cadeler addressing the availability of skilled labor, and is it a challenge for the industry? A: Cadeler has not faced significant challenges in securing skilled labor. The company benefits from applicants across the industry and ensures thorough training by placing new hires on existing vessels before transitioning them to new builds. This approach ensures safety and preparedness. (Respondent: CFO) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
BBC News
20-03-2025
- BBC News
Wind Peak starts maiden trip from Hull to Dogger Bank wind farm
A purpose-built vessel, carrying the first turbines for a major wind farm in the North Sea, has set sail with its first Wind Peak arrived in Hull on 12 March to collect components to be used on the Sofia wind farm at Dogger Bank off the Yorkshire vessel, which is is 162m (530ft) long and 60m (200ft) wide, set out on its first 80 mile (129km) trip out to the site of the wind farm to Vessel Finder, a website which tracks maritime traffic, the Wind Peak is due to arrive on site at 22:00 GMT. Listen to highlights from Hull and East Yorkshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
Yahoo
17-03-2025
- Business
- Yahoo
Huge ship set to carry turbines to North Sea farm
The first turbines for a major wind farm off the East Yorkshire coast will be installed "in the coming weeks", officials have said. A purpose-built vessel, the Wind Peak, has arrived in Hull to carry components across 80 miles (129km) of the North Sea to the site on the Dogger Bank. Officials said the vessel, which is 162m (530ft) long and 60m wide, was capable of transporting and installing seven turbine sets per load. Sven Utermöhlen, the chief executive of RWE, which is developing the wind farm, said it was the energy firm's "largest offshore construction project globally" and was on track to generate its first power this year. RWE said more than half of the turbine foundations had been installed, along with substations and cabling. The first of 150 wind turbine blades, manufactured in Hull by Siemens Gamesa, are also ready for installation. Each will be recyclable, which the firm has described as "pioneering". Mark Becker, the head of offshore at Siemens Gamesa, said: "This is a major landmark moment: Sofia, one of the largest offshore wind farms in the world, will be the first in UK waters to feature this industry-leading innovation." Officials said the wind farm was expected to generate 1.4GW of electricity and feed energy to more than a million homes by the end of the year. Listen to highlights from Hull and East Yorkshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here. Anglo-Saxon finds unearthed at wind farm site Largest offshore wind farm hits power milestone Consultation to start on wind farm expansion plan RWE Siemens Gamesa
