Record Number of OSVs to Be Delivered in 2017

© panalot / Adobe Stock

By Eric Haun

Vessel oversupply will continue to plague the offshore industry
this year as a record total of 465 offshore support vessels (OSV)
are expected to be delivered in 2017, according to VesselsValue.

Beginning with the drop in oil prices and then lower demand for
offshore research projects, the offshore industry is struggling
with historically low asset prices, while many vessel owners
around the world have been led to bankruptcy.

Now as the industry faces a large amount of vessel oversupply, a
record number of OSV deliveries, including anchor handling tug
vessels (AHTV) and platform supply vessels (PSV), will only
further exacerbate the sector's problems.

So far 15 OSVs have been delivered in 2017, with another 456 on
order globally. Incredibly 450 of these will be delivered in
2017, and only six are scheduled for delivery in 2018.

Looking at countries currently expecting OSV deliveries, owners
in Malaysia and Singapore have the largest number of vessels
currently on order, with 109 and 96 respectively.

The top owner is the Malaysian company Nam Cheong International
LTD, who currently has 56 vessels scheduled for delivery, double
that of the second rank, an another Malaysian company Coastal
Contracts, who only has 28 OSV vessels on order.

Mar 8, 2017

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