Context
Offshore wind demand is rising fast with Spinergie estimating that a total of 58 GW of capacity will need to be installed by 2030 to meet ambitious international targets outside of China. This is significantly higher than current levels of installation with 2023 expected to only see 36 GW of capacity brought online. Already, the supply chain is providing numerous challenges for wind developers to navigate not least when it comes to securing a suitable WTIV for installation scopes which are becoming increasingly more complex and at a larger scale.
Challenge
The current WTIV supply is already in high demand with a number of vessels also consistently finding O&M work which is keeping them from the installation market. While three WTIVs are currently on order between 2024 and 2027, visibility beyond this point is low and many of these vessels are already booked up for their initial work scops.
Moving fast is key for developers to secure precious vessel time, that's why they use the WTIV selector to quickly assess vessels’ capabilities and availability when creating shortlists.
Spinergie Market Intelligence
The Vessel Selector module consists of two key elements: vessel filters and the WTIV selector which are helping our clients assess this market.
Vessel Filters refine search parametres by common metrics like manager, build year, Jones Act status or sizing. This can be reinforced with further spec detail or by Enviro Score.
The WTIV Selector can be used in two distinct steps. For a broad overview, search for suitable installation vessels through the wind farm metrics of turbine capacity and water depth alone. This will display all jackup vessels excluding those working in China. Calculated parameters of nacelle weight and required crane capacity are automated for ease of use, however, users can override these fields with their own data to ensure complete accuracy for their own individual projects.
From this point, a full selection of vessels is presented with key availability and spec detail provided. A “traffic light” system gives further insight: green ticks mean a vessel is fully capable of the required scope, an orange tick means the vessel is missing some key details but with upgrade or adaptation could be utilised, and finally, the red stop sign means the scope is beyond the vessel’s current and potential capabilities. This system provides a full market overview making the process of elimination as easy as finding capable units.
Applicable vessels can be incorporated into a “Fleet” to share among colleagues or for further analysis within our dashboards including the vessel schedule and market analysis.
Result
The WTIV selector gives Spinergie clients the ability to narrow down a specific fleet of vessels with their own projects in mind. An intuitive selection process makes it simple to compile separate fleets depending on the spec required and makes tracking availability and capability easier. Clients are using the WTIV selector module to maintain an edge in following fleet developments and can assess these customised fleets for schedule gaps or potential delays or cancellations that could impact their own projects.
To find out how the WTIV selector, alongside Spinergie’s extensive modules and dashboards, can help you maintain an edge in tracking an ever-more competitive market contact us for a demo today.
Our team will show you exactly how we can adapt the solution to your needs.
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