Offshore wind is booming, and as turbine and project sizes grow, demand for specialized installation vessels will soar. The market for vessels capable of installing large offshore wind components is quickly being outpaced by growing demand from the global development pipeline, a Rystad Energy analysis shows. The global fleet will be insufficient to meet demand* after 2025, opening room for more specialized vessel orders and other oil and gas heavy lift vessel conversions. When translating the volume of offshore wind projects into vessel years for…
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