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.
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.
It is therefore crucial for developers to accurately track the WTIV fleet and quickly assess vessels’ capabilities and availability. Moving fast will be key in securing precious vessel time as the market tightens yet further.
Spinergie's Market Intelligence Solution
Spinergie’s Vessel Selector module consists of two key elements: vessel filters and the WTIV selector which are helping our clients assess this market.
Vessel Filters enable clients to refine their initial search within Spinergie’s extensive database of over 11,000 vessels. General points such as manager, build year, Jones Act status and sizing can be reinforced with further spec detail. It is also possible to select vessels based on Spinergie’s Enviro Score rating which gives each vessel a rating based on carbon emission reduction technologies on board and close analysis of vessel behaviors.
The WTIV Selector can be used in two distinct steps. For a broad overview, it is possible to 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, it is possible for clients to 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 utilized, and finally, the red stop sign means the scope is beyond the vessel’s current and potential capabilities. This system provides clients with the ability to see the full market overview making the process of elimination as easy as finding capable units.
Applicable vessels displayed in the selector can then be incorporated into a “Fleet” which can be shared among colleagues for tracking, and selected for further analysis throughout Spinergie’s in-depth and intuitive dashboards including the vessel schedule and market analysis.
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.