CLDR
Cloudera, Inc.
stock NYSE

Hey im recently looking at CADELER (CLDR). The company operates multiple vessels which installs offshore windturbines.
They expand their fleet swiftly compared to other companies capable of installing 15MW turbines (they all have more older ones for previous gen turbines but lets focus on 15MW+ needing bigger cranes).
Cadeler fleet: Orca (2012 refitted 2024), Osprey (2013 r 2024), Peak (2024), Pace (2025), Maker (2025), Ally (2025), Keeper (2024),
Under construction: Mover (2025Q4), Ace (2026), Apex (2027)
Competitors:
DEME (2 operational 1 under construction)
FRED (2 reffited vessels which are 10+ yold)
VanOord (2 operational)
Jan de Nul (1 operational)
Other chinese companies
It looks like they want to be dominant in installing the biggest, latest gen turbines. The share of those windfarms growing, and their newly built fleet gives them quite an edge.
What do you think are the biggest risks ? Even if the US ditches wind entirely in the next decade due to the shale revolution, do you think the EU market and east Asia excluding China might be enough for them to grow and be profitable ? What else am i missing ?
Thx

Kind of...I don't think a lot of companies want to build a massive WTIV vehicle that can cost 700 million and take 3-4 years to complete just to install the specialized XXL turbines. There is limited shipyard capacity, and these companies would lack the contracts and scale taht CDLR has. By 2027, CLDR will have by far and away the most impressive and capable offshore wind installation fleet in the world.
My only worry is China. They have a massive and modernizing fleet. They could undercut CDLR...but currently they are focused mostly on Chinese installs...and CDLR on European installs. Europe has a more complicated regulatory environment with different insurance requirements...this might be a bit of a barrier to CDLR. But China is definitely a threat. In the short term CDLR is fine though because of its long term contracts and backlog.

Hey im recently looking at CADELER (CLDR). The company operates multiple vessels which installs offshore windturbines.
They expand their fleet swiftly compared to other companies capable of installing 15MW turbines (they all have more older ones for previous gen turbines but lets focus on 15MW+ needing bigger cranes).
Cadeler fleet: Orca (2012 refitted 2024), Osprey (2013 r 2024), Peak (2024), Pace (2025), Maker (2025), Ally (2025), Keeper (2024),
Under construction: Mover (2025Q4), Ace (2026), Apex (2027)
Competitors:
DEME (2 operational 1 under construction)
FRED (2 reffited vessels which are 10+ yold)
VanOord (2 operational)
Jan de Nul (1 operational)
Other chinese companies
It looks like they want to be dominant in installing the biggest, latest gen turbines. The share of those windfarms growing, and their newly built fleet gives them quite an edge.
What do you think are the biggest risks ? Even if the US ditches wind entirely in the next decade due to the shale revolution, do you think the EU market and east Asia excluding China might be enough for them to grow and be profitable ? What else am i missing ?
Thx

Kind of...I don't think a lot of companies want to build a massive WTIV vehicle that can cost 700 million and take 3-4 years to complete just to install the specialized XXL turbines. There is limited shipyard capacity, and these companies would lack the contracts and scale taht CDLR has. By 2027, CLDR will have by far and away the most impressive and capable offshore wind installation fleet in the world.
My only worry is China. They have a massive and modernizing fleet. They could undercut CDLR...but currently they are focused mostly on Chinese installs...and CDLR on European installs. Europe has a more complicated regulatory environment with different insurance requirements...this might be a bit of a barrier to CDLR. But China is definitely a threat. In the short term CDLR is fine though because of its long term contracts and backlog.