Cadeler Orders Two T-Class Foundation Vessels From COSCO for €805M

Cadeler has signed firm contracts with China's COSCO Shipping Offshore shipyard to build two T-class offshore wind installation vessels for approximately 805 million euros. Due for delivery in 2030 and 2031, the foundation installation vessels are engineered to be the largest and most capable ever introduced to the market. The order forms part of Cadeler's long-term strategy to become the preferred offshore wind installation partner, building on an established collaboration with the COSCO shipyard.

 

Details of the Contract

 

Cadeler has firmed up a major shipbuilding commitment. It signed firm contracts with COSCO Shipping Offshore shipyard in Qidong, China. The contracts cover the construction of two T-class offshore wind installation vessels. These are specifically foundation installation vessels for offshore wind projects. The vessels are due to be delivered in 2030 and 2031.

The order represents a substantial financial investment. The contract price for the two vessels is approximately 805 million euros in aggregate. Cadeler secured the agreement on competitive commercial terms. The company had earlier secured equity financing for this investment. This financing formed part of its long-term growth strategy.

 

Advanced Vessel Capabilities

 

The T-class vessels are designed to set new industry standards. Cadeler describes them as the largest and most capable vessels ever introduced. They incorporate what the company calls breakthrough technologies. Their operational capabilities extend well beyond current industry standards. This positions them at the forefront of installation vessel technology.

The vessels are built for increasingly demanding projects. They are designed to tackle increasingly complex projects with greater efficiency. Versatility and performance are central to their design. Cadeler says they will open access to new opportunities. This reflects the growing scale and complexity of offshore wind developments.

 

Responding to Market Demands

 

The investment addresses the changing needs of offshore wind. Company leadership noted that projects are becoming larger and more technically demanding. Developers need installation partners with the right experience and capabilities. They also require a modern fleet to deliver projects safely and reliably. The T-class vessels are intended to meet these evolving requirements.

The order reflects a strategy of anticipating future needs. Cadeler framed the investment as staying ahead of future customer requirements. It aims to deliver best-in-class technical solutions to clients. The company described raising the bar for excellence in offshore wind installation. This forward-looking approach underpins the T-class programme.

 

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Established Shipyard Relationship

 

The order builds on a long-standing partnership with the shipyard. It draws on Cadeler's established collaboration with COSCO Shipping Offshore. The shipyard has already constructed several vessels for the company. These formed part of Cadeler's broader newbuild programme. This history provides a foundation for the new contract.

Company leadership emphasised the value of this relationship. They described a strong and trusted working relationship built over several years. The shipyard's understanding of Cadeler's requirements was highlighted. Its commitment to quality was also noted as important. This established trust made the shipyard a valued partner for the expansion.

 

Strategic Position and Outlook

 

The order advances Cadeler's broader strategic ambitions. It forms part of a long-term strategy to become the preferred installation partner. This strategy supports the continued growth of the offshore wind industry. Expanding the fleet strengthens the company's capacity to serve this market. The T-class vessels represent a significant step in this direction.

The company is already looking toward deploying the vessels. Cadeler is in discussions with key clients for their deployment. This early engagement suggests confidence in demand for the vessels. Securing deployment commitments would support the investment's commercial case. It reflects the company's proactive approach to the T-class programme.