Eneti Inc. (NYSE:NETI) Q4 2022 Earnings Call Transcript

Liam Burke: Great. And on the macro front, in Europe it seems that permitting had been a big gating factor in the development of some offshore wind farms. There was some discussion that the EU is now streamlining that process and making it a little faster to get permitting. Do you see that as pulling in or providing additional opportunity on European offshore wind?

Sebastian Brooke: Should I take a go at that Emanuele?

Emanuele Lauro: Please Sebastian, thank you.

Sebastian Brooke: I think, generally, from a macro perspective, the amount of activity that we see at the moment kind of underpins not our story but our industry as installation vessel owners. So there’s significant demand for the foreseeable future. And that for every decision such as the used decision on accelerating the permitting you’re just looking at kind of increased demand. So what’s already an attractive market for us in a way becomes even stronger. And I know that permitting has been an issue for actually many countries. There’s, some people making sure who are trying to streamline theirs as well. But again, that’s just a process and that’s a process of making their permitting more efficient and to get these wind farms online quicker. But again, that’s incremental demand. So to my point of view even regardless of that we see robust demand for the foreseeable future and that just layers on additional demand.

Liam Burke: Great. Thank you, Sebastian.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Emanuele Lauro, for closing remarks.

Emanuele Lauro: Thank you, Operator. I do not have any closing remarks. I just would like to thank everybody for your time today. And look forward to being in touch separately. Thanks a lot. Goodbye.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.