VesselsValue, a vessel valuation and data website, often cited by Offshore Engineer for data on offshore support vessels and rigs, is now covering Crew Transfer Vessels, too.

According to data shared by VesselsValue with Offshore Engineer, the UK is the top crew transfer vessel nation by CTV fleet value, with the fleet value estimated at $310 million. By the number of vessels, Windcat Workboats tops the list with 50 vessels.

Robert Day, Head of Offshore – VesselsValue Ltd said: “Crew Transfer Vessels represent an important milestone for VesselsValue as the first ‘pure’ Renewables asset to be valued using our five-factor algorithm. 

“Over the last five years, we have worked hard to complete the oil and gas asset portfolio, launching OSVs, OCVs, MODUs, and most recently Liftboats. However, over the last two years, renewable energy, in particular offshore wind, has witnessed a mini-renaissance. 

“Public and governmental pressure has forced oil majors to assess their Renewables portfolio and their ESG protocols. At VesselsValue, we believe that having quick and clear access to real-time market information is essential, particularly for those who are looking to enter the Renewables sector for the first time.”  

Under the newly launched CTV coverage, VesselsValue provides daily updated market and newbuild values for every CTV in the global fleet, full technical specifications for vessels, ownership structures, transactions, newbuild orders, and charter information, and live AIS and GIS mapping and tracking services for the global CTV fleet.

“The Renewables and CTV markets are developing quickly in regions outside of Europe, specifically in countries such as China, Taiwan, Japan, Vietnam, and South Korea who either have, or are looking to move into the vessel ownership space. This provides a wealth of opportunity for valuations and key supporting data to help these new market owners and financiers navigate the market effectively and transparently,” VesselsValue said.

Last year, VV says, for the first time ever, offshore renewable project spending was higher than offshore oil and gas spending, with an estimated USD 56 billion sanctioned for Renewables compared to USD 43 billion for oil and gas.

“The global capacity of Offshore wind farms at present is 25GW, but this will increase to an estimated 235GW by 2030, 520GW in 2040, and as much as 1000GW in 2050. As of today, the total value of the global Crew Transfer Vessel fleet consisting of 498 vessels is USD 824 million,” VV added.


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