Iranian Ship Linked to Houthi Attacks Heads Home Amid Tensions
(Bloomberg) — An Iranian ship that’s been linked to Houthi attacks in the Red Sea is returning home, removing a prominent asset in the area as the Islamic Republic braces...
A record 450 offshore supply vessels are still scheduled for delivery in 2017 despite a massive oversupply in the market, according to new figures released by VesselsValue.
Already this year 15 OSV deliveries have taken place, bringing the total number of deliveries in 2017 to 465.
The record number of deliveries will likely exacerbate the problems faced by the offshore supply vessel market, where more restructuring and even bankruptcies are expected to take place this year. Demand for OSVs has fallen since the price of crude oil began crashing in 2014, causing lower activity across the offshore oil and gas industry.
According to VesselsValue, there are currently 456 OSV vessels on order throughout the world and, incredibly, 450 of these will be delivered in 2017. Only 6 scheduled for delivery in 2018.
Looking at where these deliveries are taking place, Malaysian owners have the largest number of OSVs currently on order, with 109, followed by Singapore, China, and the United States.
By owner, the Malaysian company Nam Cheong International LTD has the most deliveries scheduled with 56 vessels. They are followed by another Malaysian company, Coastal Contracts, which only has 28 OSV vessels on order. US-based Tidewater Marine and Edison Chouest Offshore each have 10 and 11 vessels on order, respectively.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,971 members that receive our newsletter.
Have a news tip? Let us know.
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign UpMaritime and offshore news trusted by our 105,971 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up