Cadeler presses on with another newbuild at COSCO

Denmark-based offshore wind installation vessel player Cadeler has firmed up an order for another newbuild at COSCO Heavy Industries in Qidong, China, bringing its future fleet to 11.

The BW Group and Scorpio-backed shipowner said its third hybrid design newbuild which can be converted from a foundation installation vessel to a wind turbine installation unit, would be delivered in the first half of 2027 with a price tag of $400m.

The Oslo and New York-listed Cadeler, with already six vessels under construction, noted the new deal had been sealed at a competitive price due to a letter of intent negotiated earlier.

The third vessel will be built on similar specifications to the first two newbuildings, with a deck space of 5,600m2, a payload of more than 17,000 tonnes, and a main crane capacity to be disclosed at a later date. The vessels dubbed the A-class will be able to transport and install seven complete 15 MW turbine sets per load or six sets of 2XL monopile foundations.

“The decision to build a third A-class vessel is based on the strong market demand for assets specialising in installing foundations,” said Mikkel Gleerup, CEO of Cadeler, adding that the company has already signed firm contracts and entered a long-term agreement with Danish offshore wind giant Ørsted for its first A-class vessel from 2027 to 2030 and is in advanced talks to secure capacity from the second newbuild.