The concept of walk-to-work solutions has been around for close to 20 years, but several factors are driving their recent rapidly growing demand.
The first is the advancement in gangway technology. We have come a long way since motion compensated gangways - which could be temporarily installed on a vessel - were developed in Europe at the turn of the millennium. This has enabled safer, more reliable, productive and cost-effective transfers in higher sea states and transfer heights as well as harsher weather conditions.
Safety is a major factor. Walk-to-work solutions enable safer crew transfers via crew boats instead of high-risk basket and swing rope transfers. It also improves productivity and reduces the time required to perform such personnel transfers.
Furthermore, in the current industry environment, cost efficiency remains a priority. It is no surprise that operators are shifting towards the use of walk-to-work solutions in replacement of helicopter transfers, the latter of which often work out to be more expensive.
As offshore structures age and operate well past their expected lifespan, they also require more regular maintenance. Walk-to-work solutions not only support unmanned platforms during their hook-up and commissioning, but also the maintenance of these assets during planned shutdowns.
Finally, we are witnessing the rise of the renewables sector particularly in Europe and parts of Asia. Walk-to-work solutions are increasingly needed to support the installation and maintenance of these assets.
At POSH, we are well-positioned to capture the opportunities in this space, with best-in-class capabilities and a proven track record.
We have performed more than 12 walk-to-work projects to date; and own and operate five motion compensated gangways, including on our two flotels - POSH Arcadia and POSH Xanadu. POSH is one of only two ship-owners with accommodation vessels with the capacity to take on between 60 and 750 passengers. With our focus on crew and client welfare, our vessels are equipped with a wealth of amenities on board.
We are confident in our ability to deliver safety and operational excellence through our differentiated walk-to-work fleet for our clients' accommodation needs.