CSOV/SOV Market Analysis

Drewry conducted an independent market assessment of the CSOV/SOV segment, analysing fleet dynamics, demand outlook and earnings across the offshore wind value chain. The study highlighted strong structural demand driven by offshore wind expansion, with differentiated risk profiles between construction-linked CSOVs (Commissioning Service Operations Vessels) and O&M-driven Service Operations Vessels (SOVs). It also identified near-term oversupply risk for CSOVs and more stable, long-term earnings visibility for SOVs, underlining the importance of vessel specification and contract coverage