ABS: U.S. Offshore Wind Vessel Demand Set to Soar

It's no longer news that the U.S. is set to become the next big offshore wind market, with an IEA 2019 report forecasting 40 GW of installed offshore wind capacity in the country by 2040, which will require a $100 billion investment. To meet this expected growth, both in the fixed-bottom wind farms and the floating wind farms, the U.S. market will require a large amount of wind farm support vessels of various types, with the current fixed-bottom wind turbine installation fleet non-existent, and the foreign-flagged vessels not an option, for the most part. Development of ports required to support the offshore wind construction will need to pick up, too.