Supersize offshore wind buildout stymied by lack of vessels

Ships suitable for transporting the new generation of huge wind turbines are in short supply, but oil & gas EPC contractors are being attracted to the market

The global offshore wind power industry is facing a shortage of specialised vessels needed to install the new generation of supersized turbines that are proving increasingly popular with project developers. The market for wind turbine installation vessels was already in choppy waters last year after the pandemic upended the global economy, leading to construction delays as countries went into lockdown. Major suppliers of heavy-lift (HL) vessels—the likes of DEME Group from Belgium and Rotterdam-headquartered Van Oord—reported delays to contract execution last year, which analysts at information provider IHS Markit say lowered estimated market utilisation for 2020 to c.32pc. The outlook now l