Significant fleet expansion for Cadeler

Cadeler intends to significantly expand the fleet with two new build X-class vessels.

This will double Cadeler’s total fleet, reflecting an accelerated market demand for the best-in-class fleet that Cadeler already operates today.

To finance the fleet expansion, Cadeler has successfully completed an oversubscribed private placement, issuing 23,000,000 new shares in the company at a price of 34.50 NOK per share.

The total proceeds of the private placement amount to 794 million NOK which will be used to finance the fleet expansion.

“We maintain a close partnership with our clients to understand their future need for capacity and fleet capabilities. Our aim is to support the green transition by building offshore wind farms. The delivery of two new vessels is great news for the offshore wind market, Cadeler, and the green transition as we see an accelerated need for installation capacity via more sophisticated vessels,” says Mikkel Gleerup, CEO at Cadeler A/S.

Original Source: https://ocean-energyresources.com/2021/04/30/significant-fleet-expansion-for-cadeler/