The (C)SOV Market update

What’s Happening: Moves & Developments

The European offshore wind market is entering a prolonged growth phase, with the cumulative installed base set to rise significantly over the next 15 years. However, the near-term picture has shifted: recent projections show that Europe is expected to construct around 19 GW less offshore wind capacity than previously forecasted, largely due to supply chain constraints and geopolitical uncertainty delaying the build-out over the next five years. Some of this lost capacity is expected to be partially recovered in the 2030–2040 period, but not fully.

For the W2W segment, this creates an interesting dynamic. CSOV demand is projected to increase steadily until around 2031, peaking at roughly 100 vessels, before gradually stabilizing. SOV demand, on the other hand, continues to grow in line with the expanding installed base, underlining the market’s gradual shift from construction to operations & maintenance.

Recent developments

Edda Wind
In late 2025, Edda Wind sold two SOVs to Esvagt. In March 2026, it agreed to sell its remaining fleet (including newbuilds) to North Star (Partners Group) and Navigare Capital Partners, effectively exiting vessel ownership entirely. A clear sign of financial players scaling up in the space.

Acta Marine
Acta Marine took delivery of the Acta Hercules, the second in a series of four newbuild CSOVs. The vessel will enter a five-year charter with Vestas, starting on the Hollandse Kust West project.

“As the offshore wind market gradually shifts from construction to O&M, the rules of the game are changing. Fleet size, cost efficiency, and long-term partnerships will define the winners. That is exactly where the consolidation opportunities lie.”

Rick ter Maat, Partner Maritime & Offshore

Our track-record in Maritime & Offshore

At JBR, we boast a maritime advisory history since 1984. We have moved and lived with the many waves this sector has experienced over the past decades. We are happy to assist you with our experience, knowledge and skills in future strategic choices, investment issues and to help you understand the issues.

• Strategy, Acta Marine: Advised on a strategic study into the offshore wind market and M&A related outcomes
• Buy Side, Cyan Renewables: Advised on acquiring Groenewind from DEME
• Restructuring, Wagenborg Offshore: Advised Wagenborg on the restructuring of their offshore business unit
• Sell Side, Vroon Offshore: Advised on the sale of around 40 vessels of its offshore fleet and supporting offices
• Buy & Sell Side, Boskalis: Advised Boskalis on various buy side and sell side mandates in towage and offshore

Interested to learn more? Let’s talk.