Page 21: of Offshore Engineer Magazine (Nov/Dec 2023)

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OFFSHORE WIND

Still a bright future

Offshore wind projects, whether in the U.S. or glob- ally, are navigating some signifcant obstacles, whether supply chain bottlenecks, fnancial support or infationary pressures. However, the fundamentals remain strong for growth of offshore wind projects in Europe, East Asia and the U.S. Further, we anticipate new market entrants, in- cluding South America and Australia.

A common theme of all of these projects is that they will require logistical support during construction and opera- tions. CTVs and SOVs remain key assets for these activi- ties, and more will be required.

But to avoid the challenges that have been faced by many early movers, lower risk long-term charter contracts with no early termination provisions should always be consid- ered as a potential option.

november/december 2023 OFFSHORE ENGINEER 21