The European C/SOV market remained tight through the northern hemisphere summer, with project delays, contract extensions and postponed newbuild deliveries supporting utilisation and spot fixtures above €60,000 per day.

Shipowners are now positioning vessels for the coming winter and the next summer season as several offshore support units approach the end of existing contracts. Operators are following different commercial strategies: some are accepting lower rates to secure forward employment, while owners with limited backlog are seeking premium pricing for the small number of available vessels.

Nine newbuilds entered the market from early May, but the additional capacity was absorbed. Four already had long-term commitments, while the other five secured work upon delivery. Five of the nine vessels had been delayed by more than six months, contributing to restricted supply during the summer.

Demand was also strengthened by delays at major offshore wind developments. Dogger Bank was among the projects affected, prompting SSE to charter three additional vessels. Two began work in May and another in late July, with at least two expected to remain employed for the rest of the year.

Other delayed projects have extended C/SOV coverage by several months. Seasonal contracts that had been expected to conclude from August have increasingly shifted vessel availability towards October through extensions and additional work.

Poland accounts for much of the currently identified requirement. Longer-term awards have been secured for Baltyk II, Baltyk III and Baltica 2, chartered by Equinor and Ørsted. Four vessels had been fixed for these projects, with delivery scheduled from August and over the following months.

Recent fleet additions include Acta Gemini, delivered in early June and employed under a long-term RWE charter in the UK. Norwind Offshore’s Norwind Mistral and Norwind Sirocco entered operation following July deliveries. Bernhard Schulte Offshore’s Windea Clarke is working for SSE at Dogger Bank, while Windward Munich was delivered from VARD Vung Tau in July and is mobilising to Europe for its first assignment in September.

A further eight C/SOVs are expected to be delivered during 2026, taking the annual total to 22 vessels, the highest recorded delivery volume for the segment. Another 20 deliveries are anticipated in 2027. However, ordering has slowed sharply after more than 80 vessels were contracted between 2021 and 2024. Only eight newbuilds were ordered in 2025, five supported by long-term charters, and no new C/SOV orders had been placed in 2026 at the time of reporting.

Conditions are less certain in Asia-Pacific. Taiwan is showing fewer requirements and more gaps in vessel availability, while projects in Japan, Vietnam and South Korea remain uncertain because several have not reached final investment decisions. Softer regional demand could send vessels into oil and gas, accommodation work or the European market.

The oil and gas sector is already providing alternative employment. Petrobras awarded contracts in Brazil to Normand Valiant and two Windcat vessels, covering 830 firm contract days and keeping the units in the country for at least the next two years.

Europe remains the principal near-term demand driver, but the expanding orderbook could create a more selective market as deliveries accelerate. For now, extensions, ad-hoc work and construction delays continue to absorb open tonnage, while limited winter backlog remains a concern for some owners.