4C Offshore has a new premium service
level report for Wind Farm Service Vessel subscribers which includes access
to a highly detailed supply and demand report for Crew Transfer Vessels
(CTVs) and Service Operations Vessels (SOVs). With 58 figures the report
provides unparalleled insight into current CTV fleet utilisation based
on known contracts and AIS data tracking. Utilisation trends are analysed
by operator, LOA and country. Operations and maintenance strategies of
park operators are considered and used, along with real observations of
vessel requirements and a realistic projection of market growth to provide
detailed future CTV and SOV demand.
The report provides a detailed look at
the Wind Farm Service Vessel (WFSV) market for offshore wind. The depth
of analysis is unrivalled and provides valuable strategic insight for vessel
operators, shipbuilders, investors, wind farm operators and other organisations
in the wind farm operations supply chain.
As projects are moving further offshore
the operations and maintenance strategies deployed on projects is changing
from a Crew Transfer Vessel (CTV) focused strategy to a mix of strategies
that include helicopters, fixed and floating accommodation platforms and
Service Operations Vessels (SOVs). This report analyses the strategies
currently utilized and those known for future projects in order to provide
insight into the demand for CTVs and SOVs for the period 2015 to 2024.
The regulations facing CTVs are considered
along with the changing designs of vessels and the lengths and types of
vessels (classed versus non-classed and hull type, for example) being introduced.
Using a database of contracts and vessel activity spanning two years, an
analysis of vessel utilisation is provided, identifying the utilisation
rates of the leading operators from the 350-strong fleet. The trend in
utilisation by LOA is investigated, with the number of vessel days apportioned
by LOA for the past two years. The increasing trend in mean LOA per contracted
day is quantified.
As expected, seasonal changes in utilisation
of CTVs are apparent and a trend of increasing fragmentation - market share
is divided amongst an increasing number of vessel operators. The expected
monthly utilisation rate for new vessels entering the market is estimated
to be between 15-22 days. The number of WFSV days by country of origin
is provided, as is an LOA profile of the vessels active in different countries,
plus LOA profiles of different operators. Shipyards are considered, with
an overview of those who have successfully entered the market in the last
two years.
Recently several operators and a turbine
OEM have made commitments to using SOVs on several German and UK projects.
These vessels offer increased technician productivity at high levels of
comfort. An overview of the use of SOVs past and future, the vessels and
project characteristics is provided and used as an evidence base for forecasting
future SOV demand.
Progress to date in the European offshore
wind industry is analysed and compared to projected future growth to 2024
based on 4C’s mid-case scenario. Between 2015 and 2024 year on year growth
of 12.5% is forecasted with a breakdown given by country. Additionally,
the volume of offshore wind capacity in the pipeline for each major market
is considered in terms of project demand. All future oriented projections
of demand have been carefully estimated through a combination of top down
offshore wind policy and contextual analysis plus bottom-up scrutinisation
of project progress. This provides a credible pipeline of projects scheduled
to meet realistic goals.
For each project in this realistic pipeline
the number of CTVs and SOV(s) has been modelled using real data on vessel
numbers and operations strategies (e.g. CTV, helicopter, platform, SOV)
as inputs, thereby providing credible estimates. Demand is classified by
year, country of origin and distance from operations port to 2024. CTV
supply and demand is compared and the number of classed vessels available
at the end of 2014 and 2015 is also provided, allowing for comparisons
with country-based CTV demand.
SOV demand shows steady year on year
growth to 2024. The report provides details of which projects are likely
to require SOVs and highlights further projects that may require SOVs but
were narrowly excluded by the selection criteria.
You
can view the sample data for the Wind Farm Service Vessel's report HERE.
By
filling out a service enquiry HERE you are able to purchase the Wind Farm
Service Vessel Subscription.