Vessel charter rate estimation for offshore wind O&M activities

Dalgic, Yalcin and Lazakis, Iraklis and Turan, Osman; Guedes Soares, C and López Peña, F, eds. (2013) Vessel charter rate estimation for offshore wind O&M activities. In: Developments in Maritime Transportation and Exploitation of Sea Resources. CRC Press, ESP, 899–907. ISBN 9781138001244 (

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Estimating the cost of vessels is an important factor for the operation & maintenance (O&M) costs of offshore wind farms. Accurate cost estimation is required during operation of the wind farm. This paper presents the development of the O&M charter rate modelling for offshore wind turbine jack-up vessels under different op-erational strategies. The main objectives of this modelling are to explore the differentiation of charter rates as-sociated with the charter periods and with the capabilities of different vessels; as well as to allow offshore wind farm operators to plan their maintenance strategies through considering the share of vessels’ costs in the overall maintenance costs. In this respect, various jack-up vessels in the offshore wind industry are investigat-ed and the most effective charter periods are identified. The seasonal effects on the charter rates are also con-sidered to provide critical insight into the selection of the optimum charter rate scenario.