Increasing Offshore Wind Activity to Fire Up Specialist Vessel Demand

Increased investment in the offshore wind sector could spur demand for specialist vessels, according to Clarksons Research. 

Bigger turbines and wind farms to be built in deeper waters are likely to drive a need for new, larger wind turbine installation vessels (WTIVs), after investment in WTIVs reached its peak in 2010 with 13 contracted units.

However, the requirement for installation jack-ups was higher several years ago when the industry was gaining momentum, and vessels of focus in today’s offshore wind sector are those offering offshore accommodation, especially the ones equipped with a motion-compensated gangway to allow “walk-to-work” access, as well as Service Operation Vessels (SOVs), specifically tailored for the offshore wind industry by encompassing accommodation, maintenance and manoeuvrability in one ship-shaped unit.

At the start of October 2016, there were more than 25 traditional accommodation vessels with a known track record of working within the renewables sector and 12 SOVs in service with an additional 11 units on order, Clarksons Research said.

A number of high-profile final investment decisions (FIDs) and an increase in investment levels over the last few years extended to 2016 as well. The investment value of new FIDs reached for European projects during 1H 2016 was at EUR 14 billion – greater than full-year 2015 levels, Clarksons writes, thus leading to what is likely to be the most successful year for the industry yet.

To some degree, the perception of greater offshore wind activity is only relative to the challenging backdrop in the offshore oil and gas market, and risks do still exist. However, there is no denying that investment in the wind sector is on the increase. This will ultimately result in a rise in total installed capacity and is already encouraging investment in specialist vessels to support the offshore wind industry.

Representatives from Chevalier Floatels and Damen have discussed offshore accommodation vessels and future vessel requirements at the first Offshore WIND Expertise Hub. Stay tuned and watch our interviews coming online tomorrow (Tuesday, 15 November).

Check out our interviews published last week as well and learn more about vessels working in the industry from DEME/Tideway Offshore Solutions and Jan De Nul.

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To watch the interviews published last Tuesday, follow this link: https://bit.ly/2g0Qdua