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The Market for Offshore Installation Vessels

[source] Forget about North Sea oil platforms. Offshore Wind Installation Vessels Market to Hit $2.93B by 2020

The global market for offshore wind installation vessels will rise from $0.56 billion in 2014 to approximately $2.93 billion by 2020, resulting in a growth rate of 30%/year, illustrating the potential for offshore wind. The growth in installation vessels will go hand in hand with the growth of annual installed offshore wind capacity from 1.78 GW in 2014 to approximately 7.85 GW by 2020. Europe is the largest offshore wind market by far with 90% in 2013. Vessel growth from two in 2005 to more than 40 by the end of 2014.

An essential condition for this growth to continue is that the EU keeps loyal to its renewable energy policy and does not let itself deter by president Trump’s recent decision to trash the Paris Climate Accords. Instead, this act should be seen by Europe and its industry as a great opportunity to get the global upper-hand in this crucial form of energy generation, comparable to Anglo dominance in the oil industry of the 20th century (#SevenSisters).

[] – Offshore projects face vessel shortage for large turbines until 2018

September 2015 – The European offshore wind industry has a fleet of more than 75 vessels to support it, but almost half of the jack-up vessels in use are not capable of installing the 8-MW turbines now planned for some projects… Around half the fleet is not equipped to handle deep-water monopile installations, limited to a maximium depth limit of 30 metres for 3.3-MW turbines. Developers continue to convert existing vessels not originally designed to handle the new higher-capacity structures… Currently only around a dozen vessels are fully adapted for work in the offshore wind industry, the report said, and only seven in the world are capable of handling monopiles weighing more than 1,000 tons… Of 22 wind industry support vessels known to be under construction or in planning, only half a dozen have firm delivery dates.

[deepresource] – The Giants of a New Energy Age


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