Cadeler orders new F-class vessel at COSCO Heavy
Pure-play offshore wind supplier of installation services, operations, and maintenance works, Cadeler, has signed a $345 million F-class vessel construction deal with COSCO Heavy Industries. The contract includes an option for an additional X or F-class vessel.
The new vessel will enable Cadeler to target the growing segment of large-scale foundation installations and to offer a complete set of services within transport and installation of offshore wind farms. The order comes only days after the company secured €86 million downpayment for the newbuild through a privet shares placement.
Mikkel Gleerup, CEO of Cadeler says, “Developing our fleet is a key strategic priority to meet the increasing demand for installation capacity. We are proud once again to push the boundaries of our industry by providing the most efficient vessels to stakeholders developing increasingly complex projects.”
Cadeler is currently building two X-class vessels to be delivered by COSCO Heavy Industries in the second half of 2024 and the first quarter of 2025. The F-class vessel will be built on specifications similar to the two X-class vessels providing substantial scale benefits.
The F-class vessel features a unique design, allowing the vessel to convert from being a foundation installation unit to a wind turbine generator (WTG) installation vessel within a short period of time.
The new F-class is expected to be delivered in the fourth quarter of 2025 and Cadeler is currently in discussion for a XL Monopile foundation installation contract in the North Sea, expected to commence in the second quarter of 2026.
With a deck space of 5,600m2, a payload of more than 17,600 tons and main crane capacity to be disclosed at a later date, the X- and F-class vessels are unmatched within the industry, according to Cadeler. The vessels will be able to transport and install seven complete 15MW turbine sets per load or five sets of 20+ MW turbines, cutting down the number of trips needed for each project. The F-class will be able to transport up to six XL monopiles (weight 2,300-2,600 mt each) per round-trip, which improves operational efficiency substantially.
Upon completion of the three new vessels, Cadeler will operate the largest and most capable fleet in the industry in terms of loading capacity and ability to transport, service and install the largest offshore foundations and wind turbines, the company says.
The X- and F-class vessels are built at COSCO’s shipyard in Qidong in China. The strategic partners for the large-scale new builds include GustoMSC NOV, Kongsberg, Huisman and MAN Energy.