Cadeler signs €805 million vessel contracts
- Cadeler signed contracts worth about €805 million with COSCO Shipping Offshore shipyard for two new offshore wind installation vessels.
- The T-class vessels are scheduled for delivery in 2030 and 2031 as Cadeler expands its installation fleet.
- Cadeler said the investment supports its long-term fleet strategy and preparations for larger offshore wind projects.
Cadeler (NYSE:CDLR) signed contracts worth approximately €805 million with COSCO Shipping Offshore shipyard in Qidong, China, for two new T-class offshore wind installation vessels scheduled for delivery in 2030 and 2031.
The agreement follows Cadeler’s earlier equity financing for the investment and expands its fleet as offshore wind developers plan larger and more complex projects.
“As offshore wind projects become larger and more technically demanding, developers need installation partners with the experience, specialised capabilities and modern fleet to deliver them safely and reliably,” said Cadeler Chief Executive Officer Mikkel Gleerup.
The two vessels will be constructed at COSCO Shipping Offshore shipyard under competitive commercial terms, continuing a relationship that has already included construction of several vessels for Cadeler’s newbuild programme.
Cadeler said the T-class vessels are designed to handle future offshore wind installation requirements with increased lifting capacity, operational flexibility and efficiency compared with its existing fleet.
The vessels are part of Cadeler’s long-term fleet expansion strategy, with the company already in discussions with key clients regarding potential deployment opportunities for the ships.
The company expects the offshore wind market to continue expanding and said the new vessels are intended to support projects across key global offshore wind regions.
