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GICAN, a major national industry body in France, needed a market study to understand how wind farm development until 2050 would affect the support fleet.
Project Context
With offshore wind capacity in the client’s country expected to increase by 350% by 2050, they wanted to understand the impact this would have on the Crew Transfer Vessel (CTV) and Service Operation Vessel (SOV) fleets. This understanding would help them assess national shipyard capacity and help them build strategies to support domestic maritime growth.
Scope of Work
We provided a comprehensive study including:
- Fleet Analysis taking into account characteristics, average specs and age, and emissions reduction technologies such as alternative fuels and electrification capabilities.
- Supply and Capacity Analysis of the selected fleet looking into market share, the impact from neighbouring countries and future supply (newbuild construction).
- Operational analysis including estimates and comparisons of vessel performance and comparisons between the selected vessel types.
- Contractual analysis with typical contractual standards for each vessel type including costings and duration.
- Demand analysis and forecast from factors influencing specific vessel demand (wind farm size, regional weather etc.) to in-depth regional analysis with added context.
A number of possible market scenarios are presented with clear, actionable conclusions accounting for wider market context.
Spinergie’s Approach
We deliver custom studies quickly. Using data from our Market Intelligence solution, which tracks and analyses the movements and performance of over 14,000 vessels, we have a vast database to draw from. By combining vessel positions and technical details alongside context such as ports, wind farms, oil platforms, pipelines, and cables we provide a holistic view of the market.
Our team of expert analysts then combines this data with their deep market knowledge to create the detailed analysis required by the client. Unlike other consultancy services we are completely transparent with our sources and with our methodologies. We don’t believe in just handing over some numbers, we embrace discussion and collaboration with our clients to make sure our analysis is exactly what they need.
Project Result
After providing the documentation, we undertook several internal and external presentations of our report as required by GICAN. Ongoing support included training sessions and additional follow-ups to help the client fully understand the SOV and CTV market.
The data provided in the study was then used to craft policies and investment strategies aimed at encouraging shipyard growth. These initiatives will help the region meet future offshore wind demand as capacity increases.
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