Cadeler Places $938 Million Order for Two Offshore Wind Installation Vessels

Cadeler is pushing ahead with another major expansion of its offshore wind installation fleet, placing firm orders for two new T-class vessels designed to handle the increasingly large turbines and complex projects expected to enter the market next decade.

The Copenhagen-based company said Monday it signed contracts with COSCO Shipping Offshore in Qidong, China, for the two vessels, with deliveries scheduled for 2030 and 2031.

The contracts are valued at approximately EUR 805 million ($938 million) combined.

Cadeler describes the T-class vessels as the largest and most capable offshore wind installation vessels it has developed to date. The ships are being designed around the next generation of offshore wind projects, where larger turbines, heavier components and increasingly demanding installation requirements are putting pressure on existing vessel capabilities.

The company did not disclose detailed technical specifications for the new vessels in Monday's announcement, but said the design incorporates new technologies intended to improve efficiency, versatility and performance beyond current industry standards.

"As offshore wind projects become larger and more technically demanding, developers need installation partners with the experience, specialised capabilities and modern fleet to deliver them safely and reliably," Cadeler CEO Mikkel Gleerup said.

"Our investment in the T-class reflects our commitment to staying ahead of future customer requirements, delivering best-in-class technical solutions and raising the bar for excellence in offshore wind installation," he added.

Cadeler secured equity financing for the investment earlier this year and said it is already in discussions with customers about deploying the two vessels.

The orders deepen Cadeler's relationship with COSCO Shipping Offshore, which has constructed several vessels under the company's broader newbuild program.

"We are pleased to continue our collaboration with COSCO Shipping Offshore shipyard, with whom we have built a strong and trusted working relationship over several years," Gleerup said. "Their understanding of our requirements and commitment to quality have made them a valued partner as we continue expanding our fleet."

The T-class orders extend a fleet expansion that has already transformed Cadeler into one of the offshore wind industry's largest specialized installation vessel operators.

In 2025, the company took delivery of Wind Mover, the second vessel in its M-class series and the tenth vessel in its growing fleet. Delivered ahead of schedule from Hanwha Ocean in South Korea, Wind Mover joined sister vessel Wind Maker, which was delivered earlier in the year.

The arrival of Wind Mover capped a 12-month period in which Cadeler doubled its fleet from five to ten vessels. The company expects to have 12 vessels in service by mid-2027, before the two T-class newbuilds arrive early in the following decade.

Wind Mover is equipped with a 2,600-tonne main crane and DP2 dynamic positioning and is capable of operating in water depths of up to 65 meters. The vessel is scheduled to begin work in Europe under operations and maintenance contracts valued at up to EUR 75 million.

Cadeler's fleet growth comes as offshore wind developers move toward larger turbines and increasingly challenging projects, driving demand for vessels capable of transporting and installing heavier foundations and turbine components.

With the latest T-class orders, Cadeler is extending that capacity build-out into the 2030s, betting that the offshore wind industry's next generation of projects will require installation vessels significantly larger and more capable than much of the fleet operating today.