CBED acquires two new SOVs from oil and gas
Denmark-based CBED has acquired two former oil and gas industry vessels for conversion into Service Operations Vessels (SOVs) for the offshore wind industry.
The price of crude oil is notable for its volatility, and in 2008, according to Hargreaves Lansdown, a barrel of Brent crude dropped from a short-lived peak of around US$140 to less than US$50 in around a year. Graphs indicate there has been a roller-coaster ride of peaks and troughs since, with oil majors cutting back of exploration and production as a consequence of resultant profit uncertainties.
This had an effect on every sector of the offshore oil and gas support vessel industry, from seismic survey to platform supply vessels and anchor-handling tug supply vessels, whose owners in a short space of time faced a decline in demand. New vessels of these types are not built overnight, and some found themselves going straight into lay-up upon delivery with no work on hand.
However, the increased availability of oil and gas industry vessels was positive news for the then relatively young offshore wind industry. Vessel owners took advantage of the unexpected downturn in demand from their usual markets and entered the wind farm sector, their vessels usually requiring minimal conversion for the new role.
As well as introducing high-quality tonnage to the fast developing wind farm sector, they brought the expertise of an industry more used to operating with giant structures in hostile deep water locations.
Working in the wind farm sector was well within the capabilities of these vessels and contributed to the decrease in the cost of new wind farm developments, along with the proliferation of specialist marine operators who are filling the gaps for the demand for installation vessels and the economy of scale of turbines with greater generating capacity.
CBED opts for conversion
Earlier in 2023, Netherlands-based Vroon Holding BV announced it had “turned green” with the company’s restructuring, including focusing attention on its deep sea and Emergency Rescue and Recovery Vessel activities, with around 40 OSVs passing to new ownership).
It is two of Vroon’s platform supply vessels VOS Start and VOS Stone that CBED has acquired, which following dry docking for refurbishment will reappear under the names Wind Evolution and Wind Creation respectively.
Conversion work will include receiving CBED’s colourful livery and the company says it will be ready to take on new walk-to-work, inspection, repair and maintenance and subsea projects from Q2 2024.
The pair can look forward to a busy new life, with CBED saying the coming decade is likely to bring “unprecedented demand” for vessels to service projects in the offshore sector. According to maritime consultancy Clarksons’ latest market report, the offshore wind sector alone is expecting 30,000 turbines and foundations to be installed by 2030 with the yearly installation rate set to double from 700-1,000 per year to more than 2,000 per year from 2025.
The two 80m LOA Vroon sister vessels, built in 2017 by Fujian Southeast Shipyard, will under their new guise provide a home for 60 clients and 27 crew in DNV Comfort Class III accommodation. Quality accommodation is now expected for SOVs and as well as onboard offices and meeting rooms, providing leisure activities including a fitness room, cinema, TV lounge and gaming facilities.
Wind Creation and Wind Evolution will have customised walk-to-work motion compensated gangways and Kongsberg DP2 systems allowing for safe transfers to and from offshore installations and the pair will also feature 50 tonne active heave compensated and 5 tonne 3D motion compensated cranes.
Daniel Alon, general manager, CBED said: “We have been looking for the right opportunity to expand our fleet for a long time, so we are very pleased to have sealed the deal on these two very modern sister vessels.
“We see a very strong market now, and there will be an even higher demand for high-quality, purpose-built SOVs like Wind Evolution, Wind Creation and of course our existing Wind Innovation. Adding these two SOVs to our fleet brings new opportunities for CBED to take in more projects across a wide range of offshore disciplines.”
