Carriers flock to trending wind market – but entry costs exclude many
Several shipping companies are keeping a keen eye on the hot market for wind turbine installation vessels, which is predicted to grow significantly. But the ships are so expensive that the market is not accessible to the average carrier, says analyst. EnergyWatch's sister media, ShippingWatch, paints a picture of the market, the biggest players and their customers.
Photo: PR / Cadeler
BY CHRISTIAN CARLSEN & SØREN PICO, SHIPPINGWATCH
Shipping companies around the world are now flocking to the scorching hot wind market, which is currently one of the only maritime markets that can look forward to structural growth in the coming years.
EU must introduce requirements for local production in the wind industry, says Jupiter Bach’s CEO. Otherwise, Europe will lose production and the knowledge needed to regain its footing.
A manufacturing presence in North America is crucial, says the CEO on the return to the US, where the aim is 2.5GW per year using both Germany’s largest turbine and an as yet unknown product.
Under the new management, Jupiter Bach has transformed the business from huge losses to a profit. However, the chief executive admits that coincidence has played a significant part.
Norlys Energy Trading is currently investing in growth, but competition for the best people has never been so intense, says the head of the energy trading company.
In the midst of an arbitration case with back-and-forth claims over a record-breaking turbine order, an Indian project developer now sues Siemens Energy to prevent the manufacturer’s departure.
EU must introduce requirements for local production in the wind industry, says Jupiter Bach’s CEO. Otherwise, Europe will lose production and the knowledge needed to regain its footing.
The political trend towards marginalizing China is dangerous, says Siemens Energy’s hydrogen chief, who is confident about the German company’s abilities despite the much cheaper Chinese plants.