Denmark-based Cadeler has revealed that the company is in advanced talks with COSCO Shipyard regarding a possible order to build a new “hybrid” offshore wind farm foundation installation vessel.
The potential foundation installation vessel could be delivered in the fourth quarter of 2025, with an expected cost currently estimated to be in the range of USD 343 million to USD 347 million.
To partly finance the construction of the vessel, the company completed a private placement with gross proceeds of EUR 86 million (USD 91 million) in new ordinary shares.
According to Cadeler, the new F-class will be built on similar specifications to the two X-class wind installation vessels. However, the company said the F-class will feature a unique hybrid design, allowing the vessel to convert from being a foundation installation unit to a wind turbine generator installation vessel within a short period of time.
The F-class newbuild will be able to transport up to six XL monopiles each weighing between 2,300 and 2,600 mt per round-trip and its main crane will also be larger than the 2,600-tonne cranes on X-class units.
“The new F-class hybrid vessel provides us with a unique competitive advantage. The vessel will increase operational efficiency significantly, and we will be able to serve our customers with foundation installation services,” said Mikkel Gleerup, CEO of Cadeler.
The company said it is also in discussion for the vessel’s maiden contract concerning an XL monopile foundation installation in the North Sea, set to commence in the first quarter of 2026.
The order would be Cadeler’s first purpose-built foundation installation newbuild and would most likely include an option for a second vessel.
“Working closely with our partners in the industry, we see excellent deployment prospects for an F-class newbuild due to strong demand for foundation installation in the rapidly evolving offshore market,” Gleerup added.
“Cadeler has a strong track record having installed more than 500 foundations since 2013 and investing in a foundation installation vessel is a logical step for our business development.”
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