Cadeler gives go ahead for Wind Orca’s crane upgrade
Cadeler has signed a contract to install a new crane on the vessel Wind Orca. It will be able to lift 1,600 tonnes at a radius of 40 meters and provides a significant upgrade from its current 1,200-tonne crane with a radius of 31 metres.
The heavy-lift contractor has contracted NOV to upgrade the vessel. The crane replacement on Wind Orca is expected to be initiated in October 2023 with completion in March 2024. As part of the contract, Cadeler has also secured an option to replace the crane on vessel Wind Osprey. The total sum of the contract for replacement of both cranes is 102 million USD, including decommissioning of the old cranes, as well as the design, manufacturing, and installation of the new cranes. The cost will be financed by the company’s cashflow over the years from 2021 to 2024.
With the upgrades, the company wants to future-proof its vessels and prepare for the installation of larger next-generation wind turbines with capacity ratings exceeding 14MW. Cadeler says it already has one such project in its order backlog.
“As we communicated in connection with our listing earlier in the year, replacement of cranes on our existing vessels is an important strategic priority for Cadeler. Our vessels are already amongst the best in the industry, but the contracted new and improved cranes will solidify our position as a key supplier within the offshore wind industry”, says CEO Mikkel Gleerup.
Designed with clients
The new 1,600-tonne crane will have a maximum hook height of159.7 metres above the main deck. The design rests on more than a decade worth of experience and has been developed in close dialogue with clients to understand their future needs, Cadeler states.
“The market we are in is changing and to continue our growth trajectory, we need to be ready for the future and fully meet the needs of our clients. With this important announcement, we signal a strong intention to do just that”, says Gleerup.
The company, which recently changed its name from Swire Blue Ocean to Cadeler in advance of its IPO, raised NOK 883 million with the Oslo Stock Exchange listing in November 2020. This money is being used to finance the initial instalment for the planned order of the Cadeler X-class new-build vessel, with remaining proceeds expected to be used for working capital and general corporate purposes.