The offshore wind market is facing growing competition for construction service operation vessels (CSOVs) from the recovering offshore oil and gas market, according to a top broker.
“Shipbrokers and analysts for years warned about what would eventually happen once the oil and gas market recovered, and offshore wind continued to grow,” Clarksons Platou Offshore & Renewables said.
“In 2019 and 2020, we saw the first signs of the intersection of the two markets affecting rates.”
