Offshore Wind Is Outgrowing the Boats That Build It

The offshore wind industry faces a critical "vessel crunch" as turbine and foundation sizes outpace the capabilities of the existing installation fleet. Kajsa Jernetz from Bloomberg NEF explains that as turbine hub heights approach 160 meters, the number of vessels capable of handling such massive equipment is rapidly diminishing. Modeling 60,000 theoretical projects reveals that if turbine growth continues, over 30 gigawatts of capacity could lack suitable installation vessels by 2035. Conversely, if growth plateaus, this risk drops to 750 megawatts. Beyond turbine height, the shift toward deeper waters necessitates heavier foundations, further straining the supply of specialized vessels. With lead times for new, purpose-built ships exceeding four years and daily rates surpassing one million dollars, the sector is increasingly relying on repurposed oil and gas vessels and older fleet assets to bridge the infrastructure gap.