From Start-up to Cadeler

Blue Ocean Ships was founded by Lars Blicher, a ship captain and entrepreneur who saw early where the offshore wind industry was heading.

At the time, there was only one purpose-built vessel for offshore wind installation. The industry was largely using available tonnage and adapting it for the job.

Lars believed that this would have to change. Turbines were getting bigger, wind farms were moving further offshore, and he had developed the concept for a new generation of purpose-built installation vessels.

I joined Blue Ocean Ships later as an investor and working partner, and from there we spent the following years building the business together.

Building the business

Turning the idea into a business meant bringing several things together at the same time.

The vessels had to be developed and built. Customers had to commit to a new concept. Financing had to be found for very substantial investments in an industry that was still young. And an organisation had to be built around it.

All four pieces depended on each other.

This was where my many years in international shipping with A.P. Moller - Maersk came fully into play.

Lars and I had very different backgrounds, and I think that was part of what made us work well together.

Gradually, the pieces came together. The vessels were built, customer contracts were secured, and Blue Ocean Ships became a real operating offshore wind business.

Becoming Swire Blue Ocean

Six months after I joined Blue Ocean Ships, we sold the company to Swire Pacific Offshore.

As part of the agreement, Lars and I continued to run and develop the business much as we had before, now as part of Swire.

Lars continued as CEO & Director. I continued with overall commercial responsibility, first as Business Development Manager & Director and later as Contract Manager & Director.

We both served on the Board of Directors alongside our operational roles.

I had originally committed to staying for three years. I ended up staying for seven, including approximately six years on the Board.

After my time, Swire Blue Ocean later became Cadeler. Cadeler was listed in Oslo in 2020 and has since grown into one of the world's leading offshore wind installation companies.

I am proud to have been part of the early years of that story.

Looking back

The experience still influences how I think about companies and board work today.

We were building not only for the offshore wind market as it was, but for the market we believed was coming.

Understanding the business of today matters. But so does looking ahead and asking what may be different five or ten years from now, and what a company should start doing about it today.

Pacific Osprey at work

A little history from the time

In 2014, Børsen wrote about the people behind the project under the headline:

“Tunge drenge og en stærk pige betød alt.”

Børsen, 2014

I still rather like that headline.

Børsen: Tunge drenge og en stærk pige betød alt