Cable installation demand is over-concentrated around 2030
Annual cable installation demand is expected to peak around 2030, with 10,000km to be installed. The rising demand for array cables is fueled by the expanding capacities of wind farms, while the demand for export cables is influenced by the increasing distance of wind famrs from the shore. Finally, most announced interconnector projects have set 2030 as their COD target.
15 new CLV deliveries by 2028
The CLV fleet is expanding, with 15 new vessels expected to enter the market by 2028, nearly half of which are anticipated to serve the Asia-Pacific region. However, Spinergie expects a slowdown in newbuild announcements for the export cable fleet, as the number of vessels currently on order appears sufficient to meet future demand. Investment dynamics are now shifting towards shallow-water units, as well as construction support and cable repair assets.
Installation vessel shortage looms over 2030 for IACs
By the early 2030s, the array cable installation market is expected to face a temporary vessel shortage. Based on current fleet projections and project pipelines, installation capacity is likely to remain sufficient until the end fo the decade. However, a supply gap may emerge between 2030 & 2033 as demand peaks. So far, only one new-build vessel dedicated to array cable installation has been announced, suggesting that additional capacity will be required.
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