While the following does not look at the demand for cable laying vessels for offshore wind projects, focused rather on service operation vessels (SOVs) and wind turbine installation vessels (WTIV), the analysis should be of interest to the cable industry as the market continues to expand globally.

In a recent blog post, Zac Ward, Offshore Wind Analyst for VesselsValue, examined the current standing of offshore wind farms across the globe, projected numbers for increasing demand looking at capacity and count, the need for more wind farm vessels and how this predicted surge in demand is to be met.

"Last year, for the first time ever, offshore renewable projects spending was higher than offshore oil and gas spending with an estimated US$56 billion sanctioned for renewables compared to US$43 billion for oil and gas,” Ward said.

“VesselsValue’s Orderbook shows that of the 16 SOV and WTIV currently on order, half are for the European market and half are for the Far East market. Asia has the highest number of future planned wind farm projects with China planning 69 wind farm projects followed by Japan with 55 planned projects and South Korea with 41 projects,” he continued. “Demand for wind farm installation and maintenance vessels will be met by newly constructed vessels and re-purposed or upgraded existing offshore supply vessels. Most of the existing fleet of wind turbine installation vessels will become obsolete by 2025 due to increased wind turbine sizes to accommodate higher MW capacity, larger foundation sizes and deeper water windfarm sites."

The full blog post can be seen here.