Current Market Reports
As of October, Marcon has 27 inland and 21 ocean or coastal tank barges available for sale out of 670 tracked, similar to what was available one year ago. The COVID-19 pandemic and the related economic slowdown has continued to negatively impact companies in the petroleum transportation sector during the third quarter of 2020. Marine petroleum transportation companies are moving lower volumes with lower barge utilization.
In our inaugural combined crew and supply market report, Marcon reports 557 supply, tug supply, crew, fast supply and pilot boats officially on the market for sale out of 4,120 tracked worldwide. To date in 2020, Marcon has sold a 42' crew boat and a 254' PSV. The stagnation in the oilfield service vessel market continues to persist. Since our last report, the world economies were effectively upended by the ramifications related to the Covid-19 pandemic and the historical impact it has had world-wide. Utilization levels are still flat or down year on year and any sales that are occurring are typically at distressed levels.
In May, Marcon reported 617 tugs officially on the market for sale out of 5,184 tracked. This is up 15.54% from one year ago, though down 0.80% from five years ago. Marcon ended second quarter 2020 with 16 sales completed, which involved many deals which were well in the works before the Covid-19 situation developed. Since that time, the market has been extremely slow, which we see reflected across the board both domestically and world-wide.
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.