On behalf of a major European EPCI and drilling contractor, Westwood provided a detailed review of the global offshore wind sector, and the vessels used in constructing offshore wind farms.
Project Brief
Provide a detailed review of the global offshore wind sector and the vessels used in constructing offshore wind farms. Our scope of work included:
- Offshore wind industry overview and trends – fixed and floating trends, turbine and foundation technology evolution and adoption, long-term investment outlooks, national targets and their influence, and wider policy and macroeconomic context
- Wind turbine vessel market outlook – review of principal construction vessels in OWFs (e.g. financial assessment), owner landscape, JVs and supply chain relationships
- Heavy lift vessel market outlook – supply/demand, newbuilding, utilisation and dayrates to 2030
- Cable lay vessel market outlook – supply/demand, newbuilding, utilisation and dayrates to 2030
- Regional profiles – Asia, Europe, Mainland China and USA
Consulting Sectors: Energy Transition Consulting, Offshore Wind Consulting, Offshore Marine Consulting
Westwood Approach
Leveraging our core Energy Transition offering, WindLogix, alongside our deep expertise in the offshore marine space, Westwood completed an assessment of the major offshore wind markets and the capability of the fleet which competes for awards in the sector.
We reviewed regional area activity, the supply chain (including proliferation of E&Ps), technology developments, political and policy considerations, and economic data to provide independent advice on the commercial landscape (including market shares and market growth) for wind turbine installation vessels, heavy lift vessels and cable lay vessels.
Project Outcome
Westwood’s analysis helped our client quickly and clearly understand the composition and evolution of the vessel contractor landscape, the trends across offshore wind technology, and the expected change in principal offshore wind markets. This helped our client to make strategic planning decisions and to focus sales and business development resources on a rapidly growing sector.
Westwood Consulting Project Team
For every energy consultancy mandate that Westwood delivers, we define key roles to ensure the smooth management and delivery of each project.
Thom Payne
Thom has a background in delivering strategic projects for clients in the marine sector, which includes acting as expert witness and fundraising support for vessel newbuilds. As well as leading on client communication and problem definition, Thom ensured quality control and had editorial oversight of project deliverables.
Chen Wei
With a strong background in the offshore energy and marine sectors, Chen Wei brought insight and leadership, alongside focused vessel analytics. This included an assessment of unit availability in the global offshore wind sector, complementary vessel classes, and alternative use cases for WTIVs.
Pei Yu Quek
As a Senior Analyst in Westwood's offshore marine team, Pei Yu brings deep expertise in offshore marine mandates and delivers insightful, data-driven analysis.
