Splash 247

Record 450 OSVs still to deliver this year

Record 450 OSVs still to deliver this year

Array
(
    [0] => WP_Term Object
        (
            [term_id] => 60
            [name] => Offshore
            [slug] => offshore
            [term_group] => 0
            [term_taxonomy_id] => 60
            [taxonomy] => category
            [description] => Stay updated on what's going on in the offshore industry by browsing the offshore news archive. Find the latest maritime and shipping news on Splash 24/7.

Read the latest news about offshore. Browse Splash 24/7 for more maritime and shipping news.

            [parent] => 54
            [count] => 3670
            [filter] => raw
            [cat_ID] => 60
            [category_count] => 3670
            [category_description] => Stay updated on what's going on in the offshore industry by browsing the offshore news archive. Find the latest maritime and shipping news on Splash 24/7.

Read the latest news about offshore. Browse Splash 24/7 for more maritime and shipping news.

            [cat_name] => Offshore
            [category_nicename] => offshore
            [category_parent] => 54
        )

)

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.

 

Share this article

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts

1 Comment

  1. Ralph Dazert
    March 9, 2017 at 9:35 am

    I know you are not the source of this report, but surely you do not believe that all of these ships will actually be delivered in 2017? A large part will be deferred, while an even larger part will probably never be delivered at all. Recall the various reports about the Chinese “ghost fleet” of cancelled PSV’s, which, depending on the source, could run up to 170 vessels.