Philip Lewis
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26 Apr 2024
SOVs – Analyzing Current, Future Demand Drivers
At a high-level, there are three solutions to transferring technicians from shore bases to offshore wind farms for construction and O&M activities: crew transfer vessel (CTV), helicopter, and SOVs/CSOVs.SOVs and CSOVs generally house 60-120 technicians offshore for a few weeks at a time, allowing them to transfer to structures on integrated heave compensated gangways, by daughter craft or on CTVs.
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22 Feb 2024
Floating Production – A Growing Segment in Transition
The specialized deepwater oil & gas and floating offshore wind segments will share many of the same stakeholders and supply chains, competing for increasingly scarce resources.To receive a full version of Inteletus analysis, click hereThe established floating production segment is forecast to experience continued growth through this decade, driving demand for, among other things, moorings, subsea systems…
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11 Jan 2024
Rebuilding the Foundations of US Offshore Wind
As we enter a New Year, the memories of the shocks to the foundations to the U.S. offshore wind segment remain fresh. In short, supply chain inflation and capacity/availability, interest rate increases, and tax credit monetization have been the key themes highlighted by developers to explain why many projects became commercially unviable.Several Northeast and Mid-Atlantic states have reacted rapidly…
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20 Dec 2023
What Do MARAD Title XI Changes Mean for Offshore Wind?
The U.S. Maritime Administration (MARAD) has recently announced an amendment to the Federal Ship Financing Program, commonly referred to as Title XI. The amendments have aligned the program’s financial requirements and tests with common current federal credit and maritime lending best practices. In particular, the amendments aim to move away from inflexible static metrics and Title XI’s limited amortization requirements.
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20 Dec 2023
Top 10 Things to Watch in Offshore Wind in '24
Despite short-term obstacles driven by high inflation and interest rates coupled with supply chain issues, we maintain that the foundations supporting long-term offshore wind activity remain solid. As we prepare for the new year, let us look at 10 factors that will shape the offshore wind sector in 2024.1. A Continuously Dynamic Energy TrilemmaThe dynamic relationship of the three key drivers of affordable energy…
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27 Nov 2023
The $1 Billion Offshore Wind Prize for US Shipyards
The U.S. offshore wind market presents a $1 billion long-term opportunity to builders of crew transfer vessels (CTV) and service operation vessels (SOV) that will support both wind farm construction and long-term operations and maintenance. Unlike many of the construction vessels to be deployed on U.S. wind projects, CTVs and SOVs must be Jones Act compliant, meaning they will be built, owned and operated by U.S.
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06 Sep 2023
Floating Wind: What Opportunities Exist for Installation Companies and Vessel Owners?
Global floating wind capacity will have grown from less than 200 MW at the end of 2022 to around 61 GW of grid connected capacity by 2035. This activity will require over $250 billion in capital expenditure. Over 75% of the forecast activity is expected to come from four countries. The global forecast translates demand to a requirement to pre-lay more than 6,000 mooring spreads within the forecast period and the hook-up of around 5,400 turbines.
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04 Sep 2023
How Serious a Problem is the Cost Issue in U.S. Offshore Wind?
Much has been written recently about the challenges facing U.S. offshore wind projects, resulting in requests to terminate or renegotiate contracts to sell power to states. Examples of these challenges can be found from Massachusetts to Virginia. Coming on top of last week’s somewhat disappointing events of the Gulf of Mexico lease auction, speculation has mounted around the longer-term prospects for U.S. wind.
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29 Aug 2023
Low Interest Shown in US' First Gulf of Mexico Offshore Wind Auction
Only one of three available areas was sold during the United States' first ever offshore wind lease sale in the Gulf of Mexico on Tuesday.The auction, held by the Interior Department's Bureau of Ocean Energy Management (BOEM) offered up three sites for offshore wind development, including one in Louisiana (Lake Charles) and two in Texas (Galveston I and II). Together, the three shallow water sites contain a theoretical potential of 3.7 gigawatts (GW).
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16 Aug 2023
Anchor Handler Construction: What to Expect as Floating Wind Picks Up
A fleet of newbuild specialized anchor handlers will be required to help build up the emerging floating offshore wind industry. But since the industry is still in its early days, many unknowns have made it difficult for shipyards and their partners to gear up to build this fleet. This article explores complex market demand and technical drivers that help give a better understanding of anchor handler…
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20 Jun 2023
Energy Transition: What is an Offshore Vessel Operator to Do?
The energy transition is moving ahead amid recovery in offshore oil & gas and growth in offshore wind, leaving vessel owners that serve these markets with big questions about energy carrier and energy converter selection for their newbuilds.What is driving the change?The foundations of energy transition in the offshore and marine segment can be found at global, regional, national and local levels:At a global level…
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13 Apr 2023
Markets: The Challenges of Developing Floating Wind at Scale
Tens of gigawatts of floating wind projects are slated for development in this and the next decade, but many obstacles remain.There has been much focus on the emerging floating wind market of late.The U.K. is forging ahead with commercial scale floating wind developments through the Scotwind and INTOG awards of at least 24 gigawatts (GW) of floating wind capacity representing close to 1,500 floating turbines that will come on stream through 2030.
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03 Apr 2023
US Working to Address Challenges in the Way of Offshore Wind Goals
A number of recent actions in the United States will better position the nation to meet its short- and long-term offshore wind energy targets, as outlined in the April 2023 U.S. Offshore Wind Report from Intelatus Global Partners.April brings with it the news that the U.S. federal government is seeking to accelerate and incentivize investment in offshore wind technologies and the supply chain, whether it be for bottom-fixed or floating wind projects…
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06 Mar 2023
US Offshore Wind Pushing Forward, But Short-term Cost Concerns Linger
As we move into March, we note both positive and negative trends developing in the U.S. offshore wind segment.As an indication of the long-term sustainability of the offshore wind industry in the United States, federal agencies are finalizing the auction by the middle of this year of three Gulf of Mexico sites that will support a minimum of 3.6 gigawatts (GW) of offshore wind capacity. This capacity is likely to come onstream early in the next decade.
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02 Feb 2023
Intelatus: A Month of Contrasts for U.S. Offshore Wind
February will be a month of contrasts for U.S. offshore wind industry. On the positive side, BOEM is moving forward with lease negotiations for an East Coast floating wind pilot array, and six developers submitted over 100 proposals in response to New York’s third offshore wind solicitation. To support bids, local supply chain development commitments have been presented, which include plans to construct two wind turbine component factories.At the same time…
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31 Jan 2023
Offshore Wind: Floating Wind is the Future
$3 billion forecast to be invested in new anchor handlers to meet floating wind demand.Floating wind is an emerging technology. Currently being tested in small scale demonstration and pilot projects, global floating wind commissioned capacity at the end of 2022 was less than 200 MW. By 2030, close to 11 GW of commercial scale wind farms are planned to be commissioned in Europe and the Asia Pacific Region.
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17 Jan 2023
China Faces Wind Turbine and Foundation Installation Vessel Shortage
Over the last few weeks, we have seen three announcements by Chinese OEMs of 18-megawatt (MW) turbines. CSSC Haizhuang announced the H260-18MW turbine with a 260-meter rotor diameter. Mingyang Smart Energy has announced its new MySE 18X-28X turbine, which has a rotor diameter of over 280 meters.Dongfang is developing 16-, 17- and 18-MW turbines featuring rotor diameters of over 160 meters and 128-meter…
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06 Jan 2023
$3 Billion Forecast to be Invested in New Anchor Handlers to Meet Floating Wind Demand
Floating wind is an emerging technology. Currently being tested in small scale demonstration and pilot projects, global floating wind commissioned capacity at the end of 2022 was less than 200 megawatts (MW). By 2030, close to 11 gigawatts (GW) of commercial scale wind farms are planned to be commissioned in Europe and the Asia Pacific Region. Then, 2030-2035 will see a period a high commissioning activity as the U.S. joins established European and Asia Pacific markets.
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06 Jan 2023
The Top 10 Offshore Wind Energy Trends to Watch in 2023
The drivers for global offshore wind growth look good for 2023. Global offshore wind is forecast to grow from over 60 GW at the end of 2022 to 240 GW by 2030 and over 410 GW by 2035. But the sunny outlook must be balanced with some building dark clouds. As we prepare for the new year, let us look at ten factors that will shape the offshore wind sector in 2023.1. Solid foundations: Optimism for the…
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05 Jan 2023
What's in Store for US Offshore Wind?
January brings with it the expectation that the United States' first commercial wind farm in federal waters will start generating power by year end, the promise that permitting for close to 5 gigawatts (GW) of projects will be finalized within the year and that federal agencies will auction leases containing more than 15 GW in the Gulf of Mexico, in the Central Atlantic and offshore Oregon by the end of the year.However…
