Swire Blue Ocean to go public

Swire Blue Ocean to go public

09-10-2020 12:00:00

Swire Pacific Offshore has announces its intention to list its subsidiary Swire
Blue Ocean on the Oslo Stock Exchange. The announcement comes on the back of the announcement of significant expansion plans for the Danish operator.

In connection with the listing Swire Blue Ocean will be undertaking a thorough rebranding
process and will be renamed Cadeler, a name selected to reflect the company’s
Scandinavian maritime heritage and its commitment to excellence in maritime

Mikkel Gleerup, CEO of Cadeler, commented:

“As an established company in the industry, with a solid pipeline of projects, Cadeler is
well positioned to consolidate its position at the top table.

Cadeler plans to expand and adapt to keep pace with the largest turbines in the market,
with further capacity for the mega turbines to come.

This growth will require significant capital investment and is expected to further
strengthen the company’s orderbook and operational flexibility. In addition to supporting
our existing partners and clients in Europe, the growth is intended to enable us to capture
opportunities in emerging offshore wind markets in the USA and North Asia”.

Swire Blue Ocean has also issued RFPs to leading international shipyards for the
construction of a newbuild windfarm installation vessel, with an option for a second. The
bespoke vessel design has been under development for some time, in conjunction with
GustoMSC, based on Swire Blue Ocean’s experience of more than thirty offshore
windfarm projects.

Pacific Orca and Pacific Osprey, already two of the most capable jackups in the global fleet, are planned to be fitted with new cranes, enabling them to handle future turbine models currently under design by major manufacturers

Source: Swire Blue Ocean

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