Cadeler has signed up for another wind turbine installation vessel in China.
The Oslo-listed, BW Group-backed company said its second hybrid jack-up F-class ship will again be built at Cosco Heavy Industries in Qidong.
It will cost something like $345m, based on the price of the other F-class under construction.
Cadeler also has two X-class ships being built at the same yard, which will bring the fleet to six wind units, all set for delivery from the second half of 2024.
They will operate under the 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 similarly designed jack-ups and negotiating the option for a second F-class seven months ago,” the company said.
The exact final price is not being disclosed.
Cadeler chief executive Mikkel Gleerup said: “The decision to build an additional F-class vessel is based on the strong market demand for assets specialising in installing foundations.”
The first unit has a firm charter deal with Denmark’s Orsted, and then with another unnamed client from 2027 to 2030.
O-Class ships up and running
Two O-Class ships are operational already. Cadeler expects to sign a letter of intent soon for a “significant” contract with a blue-chip client for one of these.
In October, Cadeler raised $95m from a private share placement.
The deal involved new stock representing 19.9% of the outstanding shares.
Proceeds will finance about 25% of the cost of the first F-Class ship, as well as funding general corporate spending.