The Danish offshore shipping company Cadeler has signed a Vessel Reservation Agreement (VRA) for one of its new M-Class vessels. This is intended to strengthen the company’s commitment in the Asia-Pacific region.
According to a press release published by Cadeler, the agreement covers “a number of wind projects” in the region. The VRA is intended to secure the availability of one of the two M-Class newbuilds and underline further expansion in the Asia-Pacific market. The total potential value of the development pipeline, which will be negotiated during the term of the VRA, is reportedly expected to be around €200m for the shipping company.
Cadeler is waiting for six newbuildings
The M-class installation vessel newbuilding – the “Wind Maker” and “Wind Mover” – to be used for these projects is one of six newbuildings Cadeler will add to its fleet in the coming years (alongside the “Wind Peak”, which was taken over last month).
CEO Mikkel Gleerup said: “The Asia-Pacific market has significant growth potential and is of great interest to Cadeler. Expanding our presence in this market with this VRA is in line with our global business strategy.” With the first newbuild and six further additions to be delivered in the coming years, the Danes want to put themselves in a position to handle “the largest and most complex next-generation offshore wind projects”.
