Cadeler has signed firm contracts with COSCO Shipping Offshore for two new T-class offshore wind installation vessels, with deliveries scheduled for 2030 and 2031.
The two-vessel order has an aggregate contract value of approximately €805 million ($930 million) and will be built at COSCO Shipping Offshore’s yard in Qidong, China.
Cadeler said the T-class vessels have been designed for increasingly complex offshore wind projects and will expand the company’s installation capacity. The company describes the newbuilds as the largest and most capable vessels it has introduced to the offshore wind installation market.
The vessels are intended to support larger and more technically demanding projects, with new technologies and operational capabilities incorporated into their design. Cadeler said it is already in discussions with prospective clients regarding the future deployment of the two ships.
The agreement extends Cadeler’s existing relationship with COSCO Shipping Offshore. The Chinese yard has previously constructed several vessels under Cadeler’s newbuild programme.
Cadeler had signalled plans for the two T-class vessels earlier in 2026. In March, the company announced a private placement raising approximately €175 million ($202 million) to fund initial capital commitments for the proposed newbuilds, alongside the potential acquisition and conversion of a scour protection vessel.
At that stage, Cadeler said a majority of the capital commitments for the two T-class vessels were expected to fall due after 2029, while around 65 per cent of the total capital expenditure was expected to be debt-financed.
The company was then in advanced discussions over the newbuilds before confirming the firm contracts on 10 August.
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The latest order forms part of Cadeler’s wider fleet expansion programme. The company owns and operates jack-up offshore wind installation vessels and is also expanding into foundation transport and installation, as well as operations and maintenance services.
Cadeler said it doubled the size of its operational fleet during 2025. In its March investment update, the company also pointed to an expected tightening in the supply of wind foundation installation vessels from 2029 onwards as part of the rationale for further fleet investment.
The two T-class vessels will now join Cadeler’s newbuild programme for delivery at the start of the next decade. The company has not disclosed individual contract values for each vessel.
Cadeler is listed on both the New York Stock Exchange and the Oslo Stock Exchange and focuses its vessel operations on the offshore wind sector.
