M

Cadeler signs USD 651 million contract with COSCO SHIPPING Heavy Industry to deliver two new X-class vessels 

30 Jun 2021

Cadeler, a key supplier within the offshore wind industry for installation services, operation, and maintenance works has awarded COSCO SHIPPING Heavy Industry the contract to build two new X-class wind turbine installation vessels. The total order amounts to USD 651 million. The new vessels will, upon completion, be the largest in the industry. The first X-class vessel will be ready by Q3/2024 and has already been commissioned for its first project by Siemens Gamesa

Cadeler is delighted to announce that negotiations with COSCO SHIPPING Heavy Industry Co. Ltd. have been finalized and a contract for construction of two new state-of-the-art wind turbine installation vessels has been signed after a thorough tender process. The two X-class vessels are set to be delivered by Q3/2024 and Q1/2025 respectively. The contract amounts to USD 325.5 million per vessel. The addition of two new vessels will double the size of the current Cadeler fleet.

Mikkel Gleerup, CEO of Cadeler A/S says: “Expansion of our fleet is an important strategic priority to ensure that we can meet the demand we are seeing from clients for greater installation capacity. By providing energy efficient vessels with very advanced technical specifications and climate-friendly features, we are proud to be taking this step to meet the current and future demand of the industry. Offshore wind plays an increasingly important role in the green energy transition, and the installed offshore wind capacity is expected to grow substantially the coming years across several regions. We are well-positioned to play a role in cost-competitive offshore wind power production by providing efficiency gains for turbine manufacturers and windfarm owners”. 

The new X-class vessels are designed to operate at some of the most difficult sites around the globe and with the most advanced equipment in the industry. Upon completion of the two new builds, Cadeler will have the largest fleet in the industry in terms of loading capacity and ability to transport, service and install the next generation offshore wind turbines.

Mikkel Gleerup adds: “We are pleased to have finalized our negotiations with COSCO and to deliver on this important milestone for Cadeler within Q2/2021 as planned. COSCO were chosen due to their extensive expertise, reliability, and high standards in building complex windfarm installation vessels. COSCO showed from the beginning that they actively wanted to partner up with Cadeler for the delivery of our new X-class vessels and this commitment became even more clear when we decided to purchase two identical units in one order. Both vessels represent the future of our business and will be state-of-the-art in all aspects, definitely setting new industry standards”.

Liang Yanfeng, Chairman of COSCO SHIPPING Heavy Industry says: “We are very pleased to have reached an agreement with Cadeler to partner up in this exciting project, and we are very confident about Cadeler's prospects in the offshore wind market. Building the two new wind turbine installation vessels for Cadeler is a commitment that we take on us with great pride. Throughout the process we are committed to delivering vessels that will meet the high standards set by Cadeler’s clients and the Cadeler organization”.

New vessel already contracted for the installation of the world’s largest offshore wind turbines

The construction of both X-class vessels will start immediately at COSCO’s shipyard in Qidong. The construction process will take three years, but even before the keel has been laid, the first X-class vessel has already been contracted for one of the largest offshore windfarms in the world – the 1.4 GW “Sofia” offshore wind power park in the North Sea, owned by RWE. For this project Cadeler will assist Siemens Gamesa with the transport and installation of one hundred 14 MW wind turbines. The project will be located on Dogger Bank 195 km from the nearest point on the UK’s North East coast. The 14 MW turbines are expected be the largest wind turbines in the world at the time of installation. The wind turbines will be 252 meters tall, measured from sea level to the tip of rotor blade, and will have a rotor diameter of 222 meters. 

Marc Becker, CEO of the Siemens Gamesa Offshore Business Unit says: “For the first commercial installation of what will be the largest offshore wind turbines in production, it is essential that the vessels be as cutting-edge as the machines themselves. We are confident that the X-class vessels from Cadeler will provide the outstanding load capacity, technological achievements, and overall energy efficiency gains we are counting on. They will, in turn, enable us to unlock even more of the potential of wind to power the green energy revolution”. 

Sustainable state-of-the-art fleet

The design of the two new X-class vessels incorporates Cadeler’s decade of experience as well as detailed client feedback.

Mikkel Gleerup says: “Compared to the original specifications of the X-class vessels, our final design includes an upgraded jacking system and main crane. This is to better cater for the wind turbines of tomorrow taking into account the latest input provided from clients and partners”.

With a deck space of 5,600m2, a payload of over 17,600 tons and main crane capacity of above 2,000 tons at 53 meters, the two new hybrid, cyber-secure vessels are very attractive to the industry. 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, thus accelerating installation speed and minimizing the carbon footprint.

To reduce the impact on the environment, Cadeler outlined key deliverables within the vessel building specification which were evaluated as a part of the overall tender process for the construction of the X-class vessels. As an example, Cadeler requested criteria such as: minimized emissions, minimized environmental impact, CO2 accounting during the building process, minimized use of hazardous substances, requirement for biodegradable grease and oil in instances with any risk of discharge to the environment, and that the vessels must be recyclable. 

Mikkel Gleerup adds: “Being a key contributor to the global green energy transition, Cadeler strives to include sustainability in every aspect of our business. Our new vessels have been designed with this aspiration front and center. Upon completion we will undoubtedly be running a very modern and environmentally friendly fleet, which is naturally something I and the entire Cadeler team are immensely proud of.”

Additionally, specific technological improvements are planned for in the new design. These include a shore power connection which is expected to reduce fuel consumption by up to 15%, fuel efficient engines and optimized engine sizing, as well as a battery pack with capacity to reduce fuel consumption during crane operations and DP maneuvering. The state-of-the art vessels also will include technology for the regeneration of power from the jacking system and cranes.

Press release

For further information, please contact:

Mikkel Gleerup, CEO
+45 3246 3102
mikkel.gleerup@cadeler.com

News and Press releases

Interim report H1 2021: Cadeler delivers 253% growth in revenue and returns to profitability during first half of 2021  24 Aug 2021
Cadeler signs USD 651 million contract with COSCO SHIPPING Heavy Industry to deliver two new X-class vessels  30 Jun 2021
Cadeler A/S calls option for replacement of crane on Wind Osprey  17 Jun 2021
Cadeler A/S announces significant fleet expansion due to strong market demand  29 Apr 2021
Cadeler publishes Annual Report 2020  06 Apr 2021
Cadeler A/S announces largest contract in company history  10 Mar 2021
Cadeler A/S expands with new office in Vejle  22 Dec 2020
Cadeler A/S contracts new and improved crane to meet future offshore wind market demand  18 Dec 2020
Cadeler A/S to host online presentation in connection with its first day of listing on Oslo Børs  26 Nov 2020
IPO - Result of the Offering - New director appointed  26 Nov 2020
Update on status of bookbuilding and expiry of the bookbuilding/application period  24 Nov 2020
Update on Offer Price and Status of Bookbuilding  24 Nov 2020
Announcement of terms for the initial public offering  16 Nov 2020
Intention to Float  05 Nov 2020
Meet Cadeler's Board of Directors  05 Nov 2020
Swire Blue Ocean is becoming Cadeler  08 Oct 2020
Cadeler A/S signs contract with DEME for installation campaign on Hornsea 2  20 Oct 2020
Swire Blue Ocean intends to order new build vessel and invest in upgraded cranes for Pacific Orca and Pacific Osprey  16 Sep 2020
Pacific Osprey and Pacific Orca received their best eCMID inspection results since construction  20 Apr 2020
Swire Blue Ocean enacts precautions against COVID-19  26 Mar 2020
New workshop installed on Pacific Orca to facilitate onboard maintenance of nacelles  04 Mar 2020
Pacific Osprey’s new upgraded crane boom is on its way to Denmark for installation  24 Jan 2020
Vattenfall and Swire Blue Ocean sign final contract for transportation and installation of turbines in the Hollandse Kust Zuid wind farm  14 Jan 2020
WindEurope Offshore 2019 is over, see you soon!  16 Dec 2019
Meet us at WindEurope Offshore 2019  18 Nov 2019
SBO exhibits at Offshore Energy 2019 in Amsterdam  30 Oct 2019
SBO participates in the Danish Royal visit to France  28 Oct 2019
SBO Area Manager in Taiwan, Matt Bowden, speaks at the 7th Asia Offshore Wind Day.  24 Oct 2019
Pacific Orca passes by Copenhagen on her way to Wikinger Offshore Windfarm  24 Sep 2019
Let’s stay safe together  28 Sep 2019
SBO has started maintenance and service following recent agreement with Siemens Gamesa Renewable Energy  22 Jul 2019
Exhibiting at the Offshore Energy exhibition, Amsterdam  17 Oct 2018
SBO strengthens business presence in Taiwan with the appointment of new Area Manager, Matt Bowden  30 Apr 2019
Pacific Osprey chartered by GeoSea NV for transport of OTM  27 Mar 2019
SBO installing deepest fixed turbine  25 Feb 2019
Swire Blue Ocean employee killed in Great Belt train accident  11 Jan 2019
Halfway on Beatrice Offshore Wind Farm  21 Dec 2018
A milestone reached on Beatrice Offshore Wind Farm  31 Oct 2018
Press Update – 27th August 2018, 11:00 CET  16 Jun 2021
Press Update – 24th August 2018, 14:00 CET  24 Aug 2018
Beatrice project kicked off to a successful start  03 Jul 2018
Pacific Orca completes installation on the EOWDC  06 Jun 2018
Grand Opening Event  20 Apr 2018
New headquarters  15 Feb 2018
Appointment of Mikkel Gleerup as Chief Executive Officer  16 Jun 2021
Lars Blicher retires from Swire Blue Ocean A/S  16 Nov 2017
SBO moves to new and bigger facilities  30 Oct 2017
Gemini Offshore Wind Park Completion  01 Sep 2016
Swire Blue Ocean A/S signs contract with Siemens for Beatrice Offshore Windfarm Ltd (BOWL) project  02 Jun 2016
Congrats to Bilfinger with completing Sandbank foundation installation  12 Feb 2016
Milestone reached on Gemini. Congrats to Van Oord  31 Aug 2015
UK Rampion Offshore Wind Farm – we are proud to have been chosen for foundation installation  01 Jun 2015
Decommissioning now also of the Gas Booster Platform B11  23 Feb 2015
New key contract signed with Bilfinger for the Sandbank project  29 Sep 2014
New key contract signed with EPCI contractor Van Oord  19 Sep 2014
Pacific Osprey setting efficiency records with WTG installation on the DanTysk wind farm  30 Aug 2014
Pacific Orca safely completes foundation installation on the Borkum Riffgrund 1 wind farm  29 Jul 2014
First complete WTG installed on DanTysk  10 Apr 2014
BR1 Foundation Installation  27 Jan 2014
Swire Blue Ocean successfully completes H7 decommissioning job  22 Aug 2013
Swire Blue Ocean naming ceremony for Pacific Osprey at Fayard in Denmark  02 Apr 2013
Swire Pacific Offshore takes delivery of world's largest Windfarm Installation Vessel  30 Jul 2012
Second Windfarm Installation Vessel ordered for Swire Blue Ocean A/S  09 Mar 2011
Swire Pacific Offshore acquires Blue Ocean Ships A/S  09 Feb 2011
Swire Blue Ocean is awarded a contract for turbine installation on the DanTysk project  17 Feb 2011
First Windfarm Installation Vessel ordered for Swire Blue Ocean A/S  10 Aug 2010
Swire Blue Ocean clinches contract with MHI Vestas Offshore Wind for the transportation and installation of wind turbine generators at Seagreen offshore windfarm  16 Jun 2021
Pacific Osprey’s upgraded crane is now fully operational  03 Jun 2020
Swire Blue Ocean enacts precautions against COVID-19 (1)  16 Jun 2021
Pacific Osprey’s new upgraded crane boom is on its way to Denmark for installation (1)  24 Jan 2020
Vattenfall and Swire Blue Ocean sign final contract for transportation and installation of turbines in the Hollandse Kust Zuid wind farm (1)  14 Jan 2020
Press Update – 27th August 2018, 11:00 CET (1)  16 Jun 2021
Press Update – 24th August 2018, 14:00 CET (1)  24 Aug 2018
Grand Opening Event (1)  16 Jun 2021
Appointment of Mikkel Gleerup as Chief Executive Officer (1)  16 Jun 2021
Lars Blicher retires from Swire Blue Ocean A/S (1)  16 Jun 2021
Offices

DENMARK

COPENHAGEN

Cadeler
Fairway House
Arne Jacobsens Allé 7
DK-2300 Copenhagen S


VEJLE

Cadeler
Enghavevej 9D, 1st Floor, Right
DK-7100 Vejle

Tel : +45 3246 3100
Email: enquiry.DNK@cadeler.com 

  

TAIWAN

Cadeler
12th Floor, No. 129, Minsheng E. Rd, Section 3
Songshan District
Taipei City

Tel: +886 9 5583 9202
Email: enquiry.TWN@cadeler.com