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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Name of Issuer)

(Title of Class of Securities)

(CUSIP Number)

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13D/A 0002057227 XXXXXXXX LIVE 3 Ordinary Shares, with a nominal value of DKK 1.00 per share 11/28/2025 false 0001978867 12738K109 Cadeler A/S KALVEBOD BRYGGE 43 COPENHAGEN V G7 DK-1560 Nicholas Fell 65 (0) 6434 5818 BW Maritime Pte. Ltd. #18-01, 10 Pasir Panjang Road Mapletree Business City U0 117438 0002057227 N BW Altor Pte. Ltd. WC N U0 96166034.00 0.00 96166034.00 0.00 96166034.00 N 27.44 CO (1) The CUSIP 12738K109 applies to Cadeler A/S's American Depositary Shares, each representing four ordinary shares of Cadeler A/S. BW Altor Pte. Ltd. (the "Reporting Person" or "BWA") holds 96,166,034.00 ordinary shares. (2) The working capital used to purchase the ordinary shares of Cadeler A/S originated from an equity injection by the Reporting Person's sole equityholder. (3) The response to Item 13 above, 27.44%, is based on a total of 350,479,238 outstanding ordinary shares of Cadeler A/S, which amount was calculated from Cadeler A/S' Report of Foreign Private Issuer on Form 6-K filed with the Securities and Exchange Commission on August 26, 2025, which disclosed 350,957,583 shares with 478,345 shares held in treasury. Ordinary Shares, with a nominal value of DKK 1.00 per share Cadeler A/S KALVEBOD BRYGGE 43 COPENHAGEN V G7 DK-1560 This Amendment No. 3 to Schedule 13D (this "Amendment No. 3") relates to the shares, nominal value DKK 1 per share (the "Shares"), including Shares represented by American Depositary Shares ("ADSs", each representing 4 Shares) of Cadeler A/S (the "Issuer"), whose principal executive offices are located at Arne Jacobsens Alle 7, 7th floor DK-2300 Copenhagen S, Denmark. This Amendment No. 3 amends and supplements the statement on the Schedule 13D originally filed by BWA with the Securities and Exchange Commission (the "SEC") on February 19, 2025 (the "Original Schedule 13D") and amended on May 28, 2025 ("Amendment No. 1") and October 2, 2025 ("Amendment No. 2" and, together with the Original Schedule 13D, Amendment No. 1 and Amendment No. 2, the "Schedule 13D"). Except as specifically provided herein, this Amendment No. 3 does not modify any of the information previously reported in the Schedule 13D. Capitalized terms used herein and not otherwise defined in this Amendment No. 3 have the meanings set forth in the Original Schedule 13D. Except as otherwise stated in this Amendment No. 3, the Original Schedule 13D, as amended, remains in full force and effect. Item 3 is hereby supplemented as follows: The working capital funds used by BWA to make the acquisitions disclosed in this Amendment No. 3 came from an equity injection by Mr. Sohmen-Pao using his personal funds. The Reporting Person may be deemed to beneficially own 96,166,034 Shares, representing approximately 27.44% of the outstanding Shares. The foregoing beneficial ownership percentage is based on a total of 350,479,238 outstanding ordinary shares of Cadeler A/S, which amount was calculated from Cadeler A/S' Report of Foreign Private Issuer on Form 6-K filed with the Securities and Exchange Commission on August 26, 2025, which disclosed 350,957,583 shares with 478,345 shares held in treasury. The Reporting Person has sole voting power and sole dispositive power over 96,166,034 Shares, representing approximately 27.44% of the outstanding Shares. The foregoing percentage is based on a total of 350,479,238 outstanding ordinary shares of Cadeler A/S, which amount was calculated from Cadeler A/S' Report of Foreign Private Issuer on Form 6-K filed with the Securities and Exchange Commission on August 26, 2025, which disclosed 350,957,583 shares with 478,345 shares held in treasury. On November 27, 2025, the Reporting Person agreed to purchase from an unaffiliated third party a total of 17,510,330 Shares at NOK44.5 per Share, for a total purchase price of $76,362,549.13, in a privately negotiated transaction. The purchase was completed on December 1, 2025. On November 28, 2025, the Reporting Person purchased a total of 160,182 Shares in mulitple open market transactions with a weighted average price of NOK43.72 per Share. Except as described herein, to the best of the Reporting Person's knowledge, there have been no transactions in the Shares effected by the Reporting Person or, to the best of the knowledge of the Reporting Person, without independent verification, any of the other persons with respect to whom information is given in response to Item 2, during the past 60 days. As of the date hereof, no other person is known to have the right to receive or the power to direct the receipt of dividends from, or any proceeds from the sale of, the securities beneficially owned by the Reporting Person. Not applicable. BW Altor Pte. Ltd. /s/ Nicholas John Oxleigh Fell Nicholas John Oxleigh Fell/Authorized Signatory 12/01/2025