Page 33: of Maritime Reporter Magazine (August 2021)

SHIPBUILDING WTIVs

Summary of Market Size, Local Content

Preference and Development Type

Offshore Wind Turbine and Installation and Maintenance Fleet by 2025 components drive heavier foundations particularly in China, as well as servic- more than 35 optimal WTIVs and foun- to support the increased wind turbines ing important O&M demand. dation vessels are required to meet inter- loads. The longer cardon ? ber blades The ? gures exclude some 125 oil & national turbine and foundation installa- that all larger rotor diameter wind tur- gas and port/salvage heavy lift vessels, tion demand through 2030 amounting to bines have drive higher lifting heights. some of which have been used to support over $10 billion of CAPEX. The Chi-

Foundations will generally be installed offshore wind projects in the past and nese market demand will be met with in the year before turbine installation. will occasionally provide solutions on around 25 additional WTIVs and foun-

The steel monopile has been the predom- speci? c project challenges in the future. dation vessels for close to $4 billion of inant bottom-? xed foundation solution in CAPEX. Details off the forecast are pro- the international market to date. It is ex- vided in the report.A $14b CAPEX Opportunity pected that the monopile will continue to Our forecast identi? es a demand of be deployed in large numbers of interna- tional projects in the future. We anticipate that monopiles and jackets will account for over 95% of bottom ? xed foundations through 2030. Larger wind turbines and deeper waters are resulting in very large monopiles, most of which cannot be in- stalled by today’s WTIV ? eet.

Wind Farm Construction and

Maintenance Vessel Fleet

We forecast a global ? eet of around 105 wind farm construction and main- tenance vessels by 2025. Close to 60

WTIVs and foundation installation ves- sels will provide the backbone of the wind farm turbine and foundation instal- lation capabilities by the middle of the decade. Although being suitable to per- form wind farm maintenance duties, our forecast indicates that the majority will focus primarily on construction work.

An additional 45+ vessel, grouped as sub-optimal for installation activities, will support some construction work, www.marinelink.com 33

MR #8 (18-33).indd 33 8/2/2021 4:45:35 PM