Cadeler A/S Shows 253% Growth in H1/2021 – Heavy Lift News
24 Aug 2021

Cadeler A/S Shows 253% Growth in H1/2021

Cadeler A/S has announced growth of 253% for first half of 2021 in their H1/2021 Interim report.

The Wind Orca and the Wind Osprey

The Company owns and operates two offshore jack-up wind farm installation vessels, Wind Orca and Wind Osprey. In addition to wind farm installation, these vessels can perform maintenance, construction, decommissioning, and other tasks within the offshore industry.

Wind Orca crane details:

  • Main Hoist SWL in tandem 1,200t @ 31 m (2 x 600t hoists)
  • Auxiliary Hoist 500t @ 60 m

Wind Osprey crane details:

  • Main Hoist SWL:
    • 1,200t @ 25 m
    • 1,150t @ 30 m
    • 750t @ 50 m
  • Whip Hoist 50t @ 125 m (man-riding)
  • Utility Hoist 20/40t SWL

Both vessels have achieved a utilization rate of 87% during the first half of the year. The return to profitability has been driven by this high utilization rate along with improved rates. Revenue increased from €9 million for the same period in 2020 to €32 million this year. This result has led Cadeler to adjust the 2021 revenue forecast from €56 – €63 million to €59 – €63 million.

Cadeler A/S has 2 X-Class GustoMSC™ NG-20000X jack-up vessel designs on order with Cosco Shipping Heavy Industry, the first of which is already contracted by Siemens Gamesa for the transport and installation of 100 of their 14MW wind turbines on RWE’s Sofia OWF located on Dogger Bank in the UK.

Source Cadeler A/S

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