Record number of wind installation vessel orders placed in 2021

After another record breaking year for the offshore wind sector, shipowners have never before been more active in ordering new tonnage, the latest data from Clarkson Research shows.

A record number of newbuild investment developed during 2021, with over $4bn of orders placed and an increasing focus on alternative fuels and energy saving technologies, such as battery-hybrid solutions. 

The wind turbine installation vessel (WTIV) orderbook stood at around $2.5bn. This included over 17, plus nine options, WTIV newbuild contracts placed – the highest yearly total on record. Meanwhile, 15 service operation vessels (SOVs) were ordered for approximately $0.8bn, also the highest number on record, and 39 crew transfer vessel contracts were placed.

According to Clarkson Research, the wind vessel market reached nearly 1,100 vessels by year’s end. Global WTIV utilisation averaged 83% in the year, while exceptional demand for vessels off China consistently kept utilisation over 90% in the second half of the year. Rates responded, with the average dayrate assessment for 3rd generation WTIVs in Europe up 18% across the year, besides increases in the SOV market also. Dayrates reportedly quadrupled off Guangdong in China in the middle of the year.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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