Marine contractor Cadeler has bought a new Wind Turbine Installation Vessel (WTIV) to meet growing demand for operations and maintenance, it says.

The new vessel, already on the water at the Shanghai Boqiang Heavy Industry Group in China, will have to be upgraded to be capable of installing 15MW turbines, Cadeler says, which is possibly why the company says it bought the vessel ’for a purchase price significantly below the vessel’s estimated replacement cost’.