There is great demand for wind company Cadeler's upcoming hybrid vessel in the F-class. The company has announced an agreement with an unnamed customer that ensures a minimum utilization of the wind company's F-class vessel for a period of up to four years. The agreement means flexibility for the customer, who can choose between using the vessel to install foundations or wind turbines, Cadeler said in a statement.
In the agreement, Cadeler will make use of its new F-class vessel, which has a unique hybrid design, so that the vessel can be converted from being a foundation installation vessel (WFIV) to a wind turbine installation vessel (WTIV) in a short time. The new vessel is expected to be delivered in Q4 2025.
- We are very pleased that we have secured long-term exploitation of our state-of-the-art F-class vessel until 2030. It is a clear testament to the market fit of our vessels, their strong demand and Cadeler being a valued business partner of our customers. We look forward to making good use of our new hybrid vessel in the coming years, while executing projects in close collaboration with our business partners, says Mikkel Gleerup, CEO of Cadeler.
The first task after delivery of the new-built F-class vessel is the installation of offshore foundations at the Hornsea 3 offshore wind farm, which will begin in 2026. Immediately after the completion of this task, the vessel will start the new project.
If all options set out in the agreement are activated, the value of the contract will exceed 330 million euros (approx. 2.5 billion DKK) for the use of the vessel alone. In addition, the agreement gives Cadeler the opportunity to bid for the transport and installation (T&I) area. If successful, this will further increase the overall revenue and profitability of the agreement.
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