Cadeler has signed a contract with NOV to install a new crane on the Wind Orca vessel and an option for delivery of a crane on Wind Osprey.
The new cranes will put Cadeler, formerly known as Swire Blue Ocean, at the forefront of the market and assure a future-proof fleet, the company said.
Cadeler said the offshore market is moving towards installation of larger next generation wind turbines with capacity ratings exceeding 14MW, which requires improved crane lifting capacity from the vessels used to install, operate, and maintain offshore wind turbines.
The crane replacement on Wind Orca is expected to be initiated in October 2023 with completion in March 2024.
The total sum of the contract, including the option for Wind Osprey, is $102m (€83m), including decommissioning of the old cranes, as well as the design, manufacturing, and installation of the new units.
The cost will be financed by the company’s cashflow over the years from 2021 to 2024.
Cadeler chief executive Mikkel Gleerup said: “As we communicated in connection with our listing earlier in the year, replacement of cranes on our existing vessels is an important strategic priority for Cadeler.
“Our vessels are already amongst the best in the industry, but the contracted new and improved cranes will solidify our position as a key supplier within the offshore wind industry.
“As the market for offshore wind is growing significantly, we intend to put Cadeler in the position to meet the expectations of the market and clients in the coming years for best-in-class installation vessels.
“We are therefore very pleased with today’s announcement, with which we are delivering on an important part of our strategy for the benefit of our clients and investors.”