Cavotec Wins €15.7 Million Shore Power Order

Cavotec reports it has won a shore power order valued at €15.7 million from a major global container shipping line. Deliveries are scheduled to start in the fourth quarter of 2022 and continue throughout 2023 and 2024.

Cavotec is to supply its ship-mounted shore power systems for a series of newbuild containerships. These systems connect ships to shoreside electrical power in ports, enabling dramatic reductions in emissions of carbon dioxide, nitrogen and sulphur oxides, as well as particulate matter.

Cavotec’s shore power systems play a vital role in helping ports and shipping lines reduce their environmental impact and achieve climate targets.

“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 emphasizes how Cavotec is a valuable partner in the decarbonization of the global maritime sector,” said Cavotec CEO, Mikael Norin.

“I’m very pleased that the investments we have made in developing cleantech solutions are now beginning to pay off. We started 2022 with a record high level of new orders and in the first quarter our order backlog grew another 26% compared to three months earlier. This order further adds to that tailwind we are feeling in the market right now,” Norin continued.