We worked with a large European wind developer to help them plan heavy lift capacity by identifying the optimal timing for them to contract vessels for late 2020s offshore wind farm projects.
Project Context
Offshore wind players face a significant hurdle in securing heavy lift capacity with a significant bottleneck expected through 2030. With new countries entering the market, the limits of current capacity are stretched even further. Consequently the lead time to secure vessels for future projects is also increasing. And, as the late decade crunch point approaches, the client needed to better understand market dynamics as they began the process of securing heavy-lift capacity for their upcoming installation campaigns.
Scope of Work
We provided a comprehensive study in two parts including supply and demand analysis and vessel and company scoring.
- Market analysis with an in-depth view of probable bottlenecks expected from the late 2020s in the Wind Turbine Installation Vessel (WTIV) and Foundation Installation Vessel (FIV) sectors.
- Supply and Demand analysis based on custom scenarios tailored to the specifications of the client.
- Comparative analysis on the overall market and taking into account potential delays and cancellations.
- A comprehensive fleet overview organized by vessel segment.
- Separate turbine and foundation analysis for a granular outlook.
- Lead time analysis and comparisons for foundations and turbines.
- Campaign length analysis.
- A vessel and company analysis focused on a specific upcoming project to help the client in their decision-making process.
We ensured ongoing full transparency of our calculations and modeling to help the client understand our conclusions.
Spinergie’s Approach
Our team of expert analysts, with significant experience in offshore wind and marine markets, applied their robust modeling to forecast heavy lift vessel supply and demand up to 2030.
Collaboration was central to the project and we worked closely with the client throughout. This included weekly meeting points to discuss and adjust the methodology and provide recommendations and market analysis. This ensured full understanding and alignment every step of the way.
Unlike other consultancy services we are completely transparent with our sources and with our methodologies. With this, the client understood they could rely on Spinergie to provide a fully customized, data-driven report delivered with a fast turnaround.
Project Result
After providing the documentation, client feedback was overwhelmingly positive, with particular recognition of our supply and demand model as the most accurate in the market relative to competitors.
We maintain an ongoing partnership, including annual workshops with the client’s teams to provide updates and insights into market developments.
.jpg)
.jpg)
.webp)