Cadeler and Eneti will merge to form a major new force in the offshore wind installation vessel market, the two companies said today (Friday).

The deal brings together two of the world’s highest profile shipowners and deal-makers— Cadeler is chaired by Andreas Sohmen-Pao of BW Group and Eneti, led by Monaco-based magnate Emanuele Lauro.

The two parties said the new company – to be called Cadeler and based in Denmark – “will result in the largest diversified fleet owned and operated by a single pure-play offshore wind turbine and foundation installation company”.