Cavotec nets €15.7M shore power order from ‘major’ shipping line

Business Developments & Projects

May 4, 2022, by Ajsa Habibic

Swiss cleantech company Cavotec has secured a shore power order worth €15.7 million (around $16.57 million) from an undisclosed ‘major global shipping line’ for a series of newbuild containerships.

Under the contract, Cavotec will supply its ship-mounted shore power systems that connect ships to shoreside electrical power in ports.

Deliveries are scheduled to start in the fourth quarter of 2022 and continue throughout 2023 and 2024.

Commenting on the order, Cavotec’s CEO, Mikael Norin, said: “This order further validates the strategy we launched a year ago to fully focus on cleantech solutions as previous niche markets are becoming mass markets and emphasise how Cavotec is a valuable partner in the decarbonisation of the global maritime sector.”

Norin added that the company started 2022 with a record high level of new orders and that the order backlog in the first quarter grew another 26% compared to three months earlier.

In March, Cavotec was awarded contracts to supply shore power connection systems for a number of 13,000 TEU and 7,000 TEU newbuild containerships owned by Chartworld and Eastern Pacific Shipping (EPS), respectively.

Additionally, the Swiss company won an order from an unnamed shipping line for shore power equipment to be retrofitted to some of the largest containerships in the world.