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Cadeler is on track for its largest installation contract to date - worth billions

A gigantic contract worth between three and five billion Danish kroner is on its way to the Danish offshore wind company Cadeler, which is the world's largest

Yesterday, Cadeler ordered a new gigantic offshore wind installation vessel in the A-class.

Today, the publicly listed Danish shipping company tops the news with a teaser that it has been offered its largest order yet.

This involves a preliminary reservation for installation vessels on a four-year contract worth between 400 and 700 million euros, equivalent to between 3 and 5.2 billion Danish kroner.

The company announced this in a press release.

Keeping the customer undisclosed 

The unnamed customer, who is ready to "sign" with Cadeler, is awaiting the outcome of an offshore wind auction, which will be decided this year.

If all goes according to plan, the order will be Cadeler's largest to date.

The order includes one or more installation vessels from Cadeler's fleet. The fleet now comprises 12 installation vessels, including the new A-class vessel, 'Wind Apex,' which the company announced yesterday it has placed a binding order for with Cosco Heavy Industries.

According to CEO Mikkel Gleerup of Cadeler, the reservation agreement underscores the importance of customers making "ambitious vessel reservations" promptly. It emphasizes that installation shipping companies are prepared with flexible fleets in a scenario where offshore wind projects are rapidly emerging worldwide.

- Cadeler remains committed to meeting customers' needs for innovative solutions and exceptional service, ensuring that their offshore wind projects meet both budgets and deadlines, says Mikkel Gleerup in the statement, adding:

- Our customers' success is of utmost importance for the commercial viability of offshore wind and in our joint efforts to push the boundaries of global offshore wind deployment.

The Cadeler director tells Søfart that he cannot elaborate on the details of the agreement.

However, Søfart will follow up next week, when the publicly listed shipping company reports its first-quarter earnings for the year.

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