peter c hunter bwea offshore wind conference – march 2003 approaches to offshore contracting
TRANSCRIPT
Peter C Hunter BWEA Offshore Wind Conference – March 2003
Approaches to Offshore Contracting
Peter C Hunter BWEA Offshore Wind Conference – March 2003
Approaches to Offshore Contracting
The Contractual Triangle
Man
ufac
ture
rs Contractors
Developers
The Contractual Struggle
Man
ufac
ture
rs Contractors
Developers
Negative Contractual Struggle
AgreementMan
ufac
ture
rs Contractors
Developers
Positive Contractual Approach
AgreementMan
ufac
ture
rs Contractors
Developers
The Distorted Contract
Man
ufac
ture
rs Contractors
Developers
BWEA Offshore Wind Finance Forum
• Identified distortions
Single contract structure
Joint & Several Liability
Geotechnic risks
Lack of risk appreciation
BWEA Offshore Wind Energy
“That seemed like a good idea.
I wonder why it never happened ?“
Our grand-childrens‘ reflections:
Scorched Europe 2003
Offshore Wind - Stalled
MikeLeffel©2001
Now look what a fine mess you‘ve got us into !
EPC / Turnkey Tenders
A Reverse Bid Bond !
Murmurs of discontent
Offshore ContractingThe Way Forward:
• Continued dialogue
• Standard Form of Contract
• Eliminate the Unknown
• “A Road Map to Peace“
• Developer / Financier Confidence
• Measured Risk for Contractors
• Manufacturers Confidence in the Future
Standard Form of Contract
• UK Only or,
• Pan European ?
• All sides of the triangle to be represented
• Speedy progress essential
Offshore Contract Conditions
Standard Form of Contract
Conditions of Particular Application
Offshore Wind - Standard Form of Contract
Let‘s do it together
Let‘s do it today
Tomorrow could be too late !
Peter C Hunter BWEA Offshore Wind Conference – March 2003
Approaches to Offshore Contracting