Current Market Reports
In May 2020, Marcon reported 73 push boats officially on the market for sale out of 779 tracked. This is down 25 from our last report published in August 2019, 22 less than one year ago in May 2019 and six or 8.96% more than in May 2015. Push boats need barges to push. It appears that there are plenty of barges in the market, but whether they need to be pushed anywhere, or not, will have an effect on the demand for tonnage. Currently Marcon does not have any sales of pushers to report, and the sale and purchase market continues to be having a tough ride - at least on the dry cargo side of the market.
Marcon has 21 inland and 24 ocean or coastal tank barges available for sale out of 668 tracked as of April 2020, fewer than were available one year ago. The first quarter and to date second quarter 2020 have been a time of hope and despair for most of the tank barge market. Inland and coastal / ocean markets were impacted differently due to COVID-19, weather issues and impacts of the rapidly collapsing oil prices.
As of December, Marcon reports 274 supply and tug supply boats officially on the market for sale out of 3,097 tracked. Little has changed in the OSV market since our June 2019 report. The few sales seen have been at deeply discounted prices. Asking prices are still high for vessel conditions and ages. For older or rougher condition vessels, selling prices are near or at scrap levels. On the plus side, we have heard of vessels going back to work, positively impacting utilization and day rates. But these improvements are still not enough to help owners break-even.
Marcon reports 225 crew, fast supply and pilot boats officially on the market for sale out of 1,152 tracked worldwide. Marcon sold a 16.7m 2009-built crew boat between South American parties recently. Unfortunately, nothing has really changed in the market since our March 2019 report. The market is as bad or worse than it has been since 2015 and there is no improvement in sight. As brokers we are aware of some other sales, but these are far and few between and at greatly reduced prices.
Marcon reports 556 tugs officially on the market for sale out of 5,038 tracked. This is down 6.3% from one year ago, mostly due to scrapping of older, lower horsepower tugs. There is still demand for good, higher horsepower, modern tugs, especially ASDs. As of end August, Marcon has sold six tugs so far this year with an average price per BHP of $381.50 and an average age of 39 years. Two tugs abt. 21 years old sold for region $1,400-$1,500/BHP; two, 41 and 53 years old, were the right boats, in right places, at right times sold for $347/BHP and $485/BHP, respectively. Two others regrettably only sold for $5/BHP.