Offshore Wind Will Need Support Vessels; What Form Will Be Used?
The authors discuss the forms available to the offshore wind industry to use when contracting with support vessels and the issues likely to be subject to negotiation and modification.
As the United States develops offshore wind capacity, the need for vessels to support the industry for installation and maintenance will rapidly expand. While it may seem perfectly logical for the industry to adopt the BIMCO WINDTIME form, the SUPPLYTIME 2005 form is more common and generally known to the U.S. service and supply-vessel industry. In any case, we wholly expect that there will be a good deal of modifications to any form or perhaps use of bespoke agreements as the work comes online. This article reviews the various forms available and looks at particular terms and issues likely to be the subject of specific negotiation and modification.
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“Offshore Wind Will Need Support Vessels; What Form Will Be Used?” by Keith B. Letourneau and Douglas J. Shoemaker was published in the October 2020 edition of Pratt's Energy Law Report (Vol. 20, No. 9), an A.S. Pratt Publication, LexisNexis. Reprinted with permission.
This article was first published in Blank Rome’s MAINBRACE: Special Offshore Wind Edition (June 2020).