This content was published before 1 July 2021 by GIEK or Eksportkreditt Norge

Drammen Yard has long traditions in shipbuilding and as a supplier of cable carousels to the offshore market, but has in recent years directed its attention to the offshore wind sector. Cable carousels are as relevant for cable-laying to offshore wind parks as for oil operations and subsea installations. The carousels are designed so that ordinary offshore vessels can be repurposed as “plug and play” cable-laying ships within a few days. Fully loaded carousels can be hoisted or shoved onto the vessel and installed in a few hours.

– “There is great potential for this type of equipment in the offshore wind sector, and there will be as much investment in offshore wind as in the oil industry, and possibly more. I’m astounded how few Norwegian companies are operating in this market, says Knutsen. In his view, offshore wind offers clear opportunities for more Norwegian suppliers that have traditionally served the oil sector. Drammen Yard’s sister company in Sweden is the contact point for leasing to the international market, but the carousels are built and modified in Norway.

– It’s easier to hire out to the EU market from Sweden, says Knutsen. He says the company leases to both the oil and offshore wind sectors, and receives inquiries from around the world.

Increased interest in export financing Drammen Yard also sells directly to customers from Norway. According to Knutsen, these customers previously showed no interest in financing, but the situation in the oil and gas sector has changed things. – Now that times aren’t so good, export financing is attractive. We have noticed demand for it increasing, and use export financing actively in our marketing, says Knutsen. He expects the company to apply for more loans and guarantees on behalf of international buyers in the future.

“It’s interesting and exciting to see a company traditionally involved in shipbuilding transitioning first to become an equipment supplier to the oil and gas industry and then expanding into offshore wind. At GIEK, we are pleased to be helping more Norwegian exporters to exploit the opportunities available in new segments and markets.” Anders Gerlach Nilsen, GIEK customer relations officer, Shipping, Yards and Offshore Projects