New York-listed Eneti saw shares rise by more than 7% in trading on the New York Stock Exchange on Tuesday after the outfit trumped rate expectations for its first wind turbine installation vessel (WTIV) newbuilding.

The wind vessel player’s shares climbed to a 52-week high of $9.84 in afternoon trading after equity analysts hailed Monday’s announcement of 2025 contract details for its first WTIV now under construction at South Korea’s Daewoo Shipbuilding and Marine Engineering.

The contract for between eight and nine months of service with an unidentified counter-party is expected to yield around $75m in net revenue exclusive of contract costs.