Installation vessel operator Eneti claimed a contract for one of its giant new ships showed “improving fundamentals of offshore wind and current market conditions” as it prepares for a $1.2bn merger.

Eneti announced the reservation agreement for one of its Seajacks subsidiary’s two NG16000X vessels that are currently being built in South Korea.

The deal will from the first quarter of 2027 see the vessel mobilised for between 210 and 245 days to work on an unidentified wind development, generating between $87m and $100m of gross revenue with project costs an aggregate $15m.