Surge in Demand, Over 100 Wind Farm Vessels Needed

New offshore wind projects being proposed over the next decade will require a fleet of more than 100 offshore installation and maintenance vessels over the next decade. 

A significant amount of this need will be satisfied by new construction of offshore supply vessels, as well as retrofitting of existing offshore supply vessels. The existing fleet is expected to become obsolete in 2025 due to the growth of new facilities. However, boats that are smaller and currently exist may be able to service the quickly expanding Chinese market. 

Currently the bulk of the installed projects are in Europe and the UK. But in the future, most new wind power projects will be located in China and Vietnam. 

Other research shows that China has 69 future wind farm projects planned, Japan has 55 future wind farm projects planned, and South Korea has 41 future wind farm projects planned.