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Diana Shipping: Investing in wind farm support vessels

The CSOVs will have a battery-powered hybrid propulsion system and will be prepared to operate on green methanol

A consortium of companies, including Diana Shipping, ordered two more offshore wind farm support vessels.

The shipping company listed on the US stock exchange, said that the joint venture of Windward Offshore, Blue Star Group GmbH & Cie. KG, SeaRenergy Offshore Holding GmbH and SeraVerse GmbH exercised the option to build two additional Commissioning Service Operation Vessels (CSOVs).

These types of vessels support the major energy groups worldwide in the construction, commissioning and maintenance of offshore wind farms.

Following the completion of the transaction, Windward Offshore will have four CSOVs on order at the Norwegian shipyard Vard, a subsidiary of the Italian shipbuilding group Fincantieri.

The delivery of the vessels is scheduled between the third quarter of 2025 and the third quarter of 2026. The CSOVs will have a battery-powered hybrid propulsion system and will be prepared to operate on green methanol.

The contract, which was announced in October 2023, marked Diana Shipping’s expansion into the offshore vessel market.

The active fleet of the Greek shipping company consists of 40 bulk carriers (4 Newcastlemax, 9 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax and 9 Ultramax), with a total capacity of 4.5 million dwt and an average age of 10.59 years.