The investments included a dual fuel foundation and turbine installation vessel, a dual fuel cable-laying vessel, the modification of a heavy lift installation vessel and the construction of two new hybrid water injection dredgers.<\/p>\n
\u201dVan Oord\u2019s underlying market drivers remain favourable, fuelled by the energy transition, climate adaptation and growing attention for secure and sustainable marine infrastructure,\u201d said a company spokesperson.<\/p>\n
\u201dIn the short term, we foresee more end-market and geographical volatility resulting from increased geopolitical instability and economic uncertainty. Equipped with a competitive fleet, a skilled workforce and a healthy order book, Van Oord is well positioned to seize market opportunities.\u201d<\/p>\n
Green investment<\/strong><\/p>\n Van Oord has invested around \u20ac1 billion in recent years to expand its fleet in both offshore energy and dredging.<\/p>\n The largest investment in the company\u2019s history includes the construction of the dual fuel vessel, Boreas, which is able to run on methanol and capable of installing 20 MW offshore wind turbines.<\/p>\n The Boreas completed sea trials in November and was handed over to Van Oord. The vessel has recently arrived in the Netherlands for final outfitting works.<\/p>\n Meanwhile the Calypso, a second dual fuel vessel designed for installing high-voltage direct current (HVDC) cables, also made its deployment debut in 2024.<\/p>\n The dredging fleet was expanded with two hybrid water injection dredgers (WIDs), Rijn and Rh\u00f4ne. These new WIDs are equipped with technology that substantially reduces their energy consumption and emissions: Hybrid energy management systems, heat recovery systems and exhaust gas after treatment devices.<\/p>\n The result of all this investment was that at year-end 2024, the company was still in a robust financial position, with an order book that \u201dreflects an improved balance between risk and reward.\u201d<\/p>\n Going forward the dredging unit has been awarded multiple projects to deepen and widen entrance channels and ports to accommodate larger vessels and expand operations, such as Lule\u00e5 in the north of Sweden and Walvis Bay in Namibia. It has also secured several long-term maintenance contracts, including Paranagu\u00e1 in Brazil and Mumbai in India. <\/p>\n Despite a challenging year in 2024, Van Oord\u2019s offshore energy unit did win new contracts and complete other ones. In Taiwan, Van Oord began work on the Greater Changhua projects, with a total capacity of 920 MW to power 1 million homes. In Guyana, it completed the Gas to Energy project, enhancing electricity production and helping the country reduce reliance on imported fuels. <\/p>\n