The hard hit OSV sector must brace for a record number of deliveries this year. According to research from online pricing mechanism VesselsValue, there are currently 456 OSV vessels on order throughout the world. Incredibly 450 of these will be delivered in 2017, in addition to the 15 which have already delivered in the first 10 weeks of the year, and only six are scheduled for delivery in 2018.
Malaysian owners have the largest number of OSV vessels currently on order.
Nam Cheong currently has 56 vessels scheduled for delivery. This is double the second rank, another Malaysian company Coastal Contracts, which has 28 OSV vessels on order.
A recent survey carried by Splash suggests 2017 will be worse than last year for OSV operators, many of whom are struggling to stay solvent during the protracted downturn.