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Cadeler closes 2020 with EUR 27m deficit, nominates shipping profile as board chair

In the wake of Cadeler's full-year financial statement published Tuesday, showing a 27 million-euro deficit, BW Group is now in preliminary talks about acquiring a larger stake in offshore wind service operator, which expects to see results improve this year on the heels of an eventful 2020.

Andreas Sohmen-Pao has been nominated as new chairman of Cadeler. | Photo: PR-foto BW Group

Offshore wind carrier Cadeler adds a shipping heavy-weight to its board of directors in the form of maritime company BW Group's Andreas Sohmen-Pao, who has just been nominated as chair, shows a notice to the stock exchange published with the company's 2020 annual report Tuesday.

Sohmen-Pao also chairs BW Group, which has invested heavily in the Danish offshore wind carrier. His appointment is pending approval at Cadeler's annual general assembly on April 29, and he will take over from current chairman, Richard Sell, commercial director of major shareholder Swire Pacific Offshore.

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