OSVs not ready for wind game; 29GWs

While the maritime industry gears up to find a niche in the offshore wind industry, several Louisiana-based energy section offshore service vessel (OSV) firms aren’t ready to take the plunge ... because profits aren’t there. “This is an opportunity, but it’s just in the infancy level,” J. Peter Laborde Jr., managing member of Laborde Marine Management of New Orleans, told a Marine Finance Forum organized by Marine Money on Nov. 30. "(T)he numbers aren’t working ... (it's) a real deterrent ... because we can’t afford to make a mistake,” he said. Laborde would like to see a 25% return on investment, but seeing a lot lower and that would be difficult to attract capital. Quintin Kneen, president and CEO of Tidewater of NOLA, a global OSV operator, says he'd be “glad to play" if the economics were there. Todd Hornbeck, chairman, president and CEO of Hornbeck Offshore Services of Covington, said its whole fleet can get into offshore wind." We can convert," but the market has to show it can pay. No profit, no interest. He suggested contract liability "must be shared" more as “supply chain operations continue to endorse all the risk." Aaron Smith, president of Offshore Marine Service Association of NOLA, told WorkBoat his people want to be involved but U.S. OSVs "can't compete" with foreign-flagged vessels that can operate at a lower price. Under the Jones Act, U.S. vessels must be crewed by U.S. mariners. Foreign vessels are not. The industry is pushing Congress to apply the Jones Act and other regs more strictly to the offshore wind industry. “It would be difficult" to invest and compete "with vessels that play by other rules,” he said. (Work Boat 12/02/22)

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Offshore Wind Forum details ambitious challenges of next 29 GWs 

With less than one gigawatt (GW) of U.S. offshore wind energy committed with two projects in operation and two others under construction, the Biden administration's goal of deploying 30 gigawatts of offshore wind power by 2030 seems ambitious. Hitting this “30 by 30” goal would require the installation of multiple turbines every week starting in 2023. What will enabling technology at this scale actually look like? How will developments related to financing and the workforce affect what’s possible? These topics and others were explored Nov. 30 at the American Bureau of Shipping's third annual Offshore Wind Forum held in New Orleans. (Work Boat 12/12/22) Offshore Wind Forum details how to address the challenges of the next 29 GWs | WorkBoat