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    NOV   US62955J1034

NOV INC.

(NOV)
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NOV : to supply Cadeler A/S with replacement crane on Wind Osprey

07/30/2021 | 12:29pm EDT
In 2020, NOV announced the manufacture of the new heavy lift crane on the Wind Orca vessel for Cadeler. Within that contract, Cadeler had an option to replace the main crane of the Wind Osprey.

With this second crane replacement project, NOV continues to increase their presence in the global heavy lift market. NOV's Marine and Construction business unit for heavy lift cranes leverages the expertise and experience of legacy brands AmClyde™ and GustoMSC™ while utilizing NOV's global presence and manufacturing capabilities.

NOV's heavy lift cranes combine extensive experience with advanced features. The newest designs are marked by lower construction weight and environmentally friendly, fully electric frequency-controlled drive systems, resulting in state-of-the-art, competitive products.

The heavy lift crane for Wind Osprey has the same specifications as its sister crane on Wind Orca. With a lifting capacity of 1600 metric tons at a radius of 40 meters and the main hook at 159 meters above the main deck, the new heavy lift crane offers a substantial capacity upgrade compared to the existing NOV crane with 1200 metric tons lifting capacity at a radius of 31 meters.

'We are pleased to achieve this significant milestone and we look forward to the continuation of the good cooperation with NOV,' said Cadeler's CEO Mikkel Gleerup. 'We thereby deliver on our promise to keep our current fleet of vessels ready for future demands that call for even larger cranes with higher specifications, which will ultimately benefit both our clients and the transition to renewable energy.'

Gerben Roks, Sales and Business Development Manager Heavy Lift, said: 'We are grateful that Cadeler has entrusted our Heavy Lift group with this second crane replacement project. Both the Wind Orca and Wind Osprey have a NOV heavy lift crane from start and we are pleased that we can continue to support Cadeler throughout the lifetime of the vessels. It demonstrates that our state-of-the-art heavy lift cranes provide an efficient lifting device for our customers' operational needs'.

The crane replacement on Wind Osprey is scheduled to be initiated in Q4/2023 and will be completed in conjunction with the crane replacement on Wind Orca, benefitting fully from the synergies of both projects. The replacement is scheduled for completion in Q1/2024 and will be ready in time for the next generation of wind turbines.

More information: nov.com/products/heavy-lift-cranes


Disclaimer

National Oilwell Varco Inc. published this content on 30 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2021 16:28:08 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 5 592 M - -
Net income 2021 -162 M - -
Net Debt 2021 76,1 M - -
P/E ratio 2021 -29,2x
Yield 2021 0,21%
Capitalization 5 396 M 5 396 M -
EV / Sales 2021 0,98x
EV / Sales 2022 0,81x
Nbr of Employees 27 631
Free-Float 99,5%
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Number of Analysts 23
Last Close Price 13,81 $
Average target price 17,61 $
Spread / Average Target 27,5%
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Clay C. Williams Chairman, President & Chief Executive Officer
Jose A. Bayardo Chief Financial Officer & Senior Vice President
David Reid Chief Technology & Marketing Officer
Alex Philips Chief Information Officer
Bonnie Houston Chief Administration Officer
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