Cadeler triples fleet after ordering second hybrid jack-up installation vessel

22 Nov 2022 13:00 CET

Today, Cadeler A/S has placed an order to build its second state-of-the-art
F-class vessel. This is the sixth vessel that Cadeler will have in its fleet,
hence tripling its number of vessels and creating the largest and most capable
fleet of jack-up vessels in the offshore wind industry ready to meet growing
market demands.

Cadeler is currently building two X-class as well as an F-class vessel, which
are set to be delivered from H2/2024 onwards. The second F-class vessel is
expected to be delivered in the second half of 2026. All vessels will be built
by COSCO Heavy Industries in Qidong, China, and will sail under Danish flag.

Cadeler has been able to achieve a very competitive price due to a strong
collaboration that the company has built with COSCO Heavy Industries, synergies
reached from building several similar designed jack-ups and negotiating the
option for a second F-class seven months ago. It has been agreed between the
parties not to disclose the final price of the contract due to these special
circumstances.

The X- and F-class vessels are built in close cooperation with Cadeler’s
strategic partners, which include GustoMSC NOV, Kongsberg, Huisman and MAN
Energy.

Cadeler’s CEO, Mikkel Gleerup says: “The decision to build an additional F-class
vessel is based on the strong market demand for assets specialising in
installing foundations. Our yet-to-be-build F-class vessels have already been
sought after by our clients. As announced in August, we have signed a firm
contract with Ørsted and have also entered a long-term agreement with an
undisclosed client booking the F-class vessel from 2027 to 2030. These results
are only possible because our clients believe in our abilities to meet their
demands with increased flexibility and to offer state-of-the-art vessels that
are fit to meet the requirements from the fast-growing offshore wind market.”

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576361_Stock Exchange Announcement - Cadeler orders another F-class vessel_final.pdf