Europe CSOV Dayrates Top EUR 60,000 as Delays Keep 9 Newbuilds Fully Absorbed
Updated
Updated · MarineLink · Aug 17
Europe CSOV Dayrates Top EUR 60,000 as Delays Keep 9 Newbuilds Fully Absorbed
1 articles · Updated · MarineLink · Aug 17
Summary
Multiple European CSOV spot fixtures have cleared above EUR 60,000 a day in the past three months, with limited vessel availability keeping the summer market tight.
Nine newbuilds delivered since early May failed to loosen supply because five arrived more than six months late and all found work quickly, while offshore wind construction delays extended vessel needs.
Dogger Bank and other delayed projects pushed expected August roll-offs toward October; SSE alone chartered three additional vessels, and four more units were fixed for Polish projects including Baltyk II, Baltyk III and Baltica 2.
Europe remains the main demand center even as Taiwan softens and Japan, Vietnam and South Korea face project uncertainty, which could redirect tonnage toward Europe or other work scopes.
A record 22 CSOV deliveries are expected in 2026 and another 20 in 2027, but no new orders have been placed this year, supporting near-term fundamentals despite weaker long-term offshore wind targets.