Offshore wind vessel heavyweight Cadeler has signed a senior secured green term loan facility of €247 million (approximately $282 million) to finance part of the construction of its third A-class newbuild offshore wind installation vessel, named Wind Apex, according to Splash247.
Loan Details and Syndicate
The 12-year facility is supported by Denmark’s Export and Investment Fund (EIFO). The Hongkong and Shanghai Banking Corporation (HSBC), Singapore branch, acted as coordinator, mandated lead arranger, facility agent, security agent, and EIFO agent. The lending syndicate comprises HSBC, KfW IPEX-Bank, Coöperatieve Rabobank, and DNB Bank.
This financing marks continued confidence in Cadeler’s ability to deliver offshore wind installation capacity, according to Cadeler CEO Mikkel Gleerup.
Vessel Construction and Timeline
Cadeler has two A-class vessels currently being built in China by COSCO. The Wind Ace is scheduled for delivery in the second half of 2026, while the Wind Apex is expected to be delivered in the second quarter of 2027. The A-class vessels are specialized for offshore wind turbine installation, a sector requiring heavy-lift capacity and dynamic positioning.
Implications for Offshore Wind Logistics
While this news directly concerns vessel newbuilding financing, it has indirect effects on the logistics and freight market for offshore wind components. The addition of a third A-class vessel will expand Cadeler’s fleet, enabling more efficient installation campaigns and potentially reducing project delays. For logistics operators, this means increased demand for transport of tower sections, nacelles, and blades to staging ports, as well as barge and tug services for offshore positioning.
| Vessel | Delivery Timeline | Builder |
|---|---|---|
| Wind Ace | H2 2026 | COSCO (China) |
| Wind Apex | Q2 2027 | COSCO (China) |
The Port of Rotterdam and other North Sea hub ports may see increased throughput of oversized wind components as installation schedules ramp up. However, no specific port or route impacts are detailed in the source.
Shipper and Operator Considerations
Logistics managers involved in offshore wind projects should monitor Cadeler’s delivery timelines as they will influence available installation capacity. The financing secured for the Wind Apex indicates strong support from European export credit agencies and commercial banks, signaling a healthy outlook for offshore wind investments. Operators should also note the involvement of HSBC Singapore, which may facilitate future financing for Asia-Pacific wind projects.
Watch List
- Delivery milestones for Wind Ace (H2 2026) and Wind Apex (Q2 2027).
- Any further vessel orders or financing announcements from Cadeler or competitors.
- Updates on COSCO’s shipyard capacity for specialized offshore vessels.
Sources:
