Cadeler Contract NOV for Wind Orca Crane Upgrade

Cadeler has contracted NOV to upgrade Wind Orca  (ex Pacific Orca with SBO) with a new and improved crane that meets the future offshore market demand. The contract also maintains the option for delivery of a crane on vessel Wind Osprey (ex Pacific Osprey with SBO).

The new crane will have a lifting capacity of 1600 metric tons at a radius of 40 meters, with the main hook at a height of 159.7 meters above the main deck. This is a substantial upgrade of the vessel capacity today (1200 metric tons lifting capacity at a radius of 31 meters) and will enable installation of next generation 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 for replacement of both cranes is 102 million USD, including decommissioning of the old cranes, as well as the design, manufacturing, and installation of the new cranes. The cost will be financed by the Company’s cashflow over the years from 2021 to 2024.

Mikkel Gleerup, CEO of Cadeler, 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”.

Source Cadeler