Page 11: of Offshore Engineer Magazine (Jul/Aug 2020)
MARKET REPORT Transport & Installation 12 vessels currently under construction. age bracket are barges, suggesting that attrition at this end of
However, this is a ?eet which is heavily regionalized – 45% the market is badly needed to bring back a more reasonable of these vessels are barges, capable only of working in benign balance between contractor and operator. waters in Asia Paci?c, while a quarter are jack-up units, most Market conditions, however, have been universally tough and of which have been purpose-built for the offshore wind mar- the prolonged contraction of the ?eld development market has ket. The majority of the semi and ship-shaped units, mean- forced heavy lift vessel owners with capable units to look else- while, are marketed for harsh and deep regions. where – namely the decommissioning sector and offshore wind.
Over a quarter of the ?eet (27%) has a lift capacity between 800 to 1,000 tonnes, while almost half of the ?eet is capable DECOMMISSIONING AND OFFSHORE WIND of lifts between 1,001 to 3,000 tonnes. Despite a sharp increase in the number of projects and plat-
Meanwhile, only nine vessels globally, are capable of lifts of forms requiring removal – especially in Northwest Europe, 5,001 tonnes and over. where, according to FieldsBase, we have over 120 ?xed platforms
On a global level, comparing the ?eet by their lift capacities, scheduled for removal, the decommissioning market comes with utilization has been weak across the board – ranging between its own set of problems. Removal programs are often subject to 32% to 46% for 2019 for the four lift categories in the chart budget cuts and delays and are low priority for operators looking above. Age and hull type also throw up a few uncomfortable to reign in expenditure during lean times. The over-supply of home truths. Vessels in this ?eet aged 25 years or over had just heavy lift vessels at the low end of the market – particularly for 26% utilization last year. The vast majority of vessels in this the removal of smaller wellhead facilities in shallow waters – has
JULY/AUGUST 2020 OFFSHORE ENGINEER 11