Offshore Support - Past Reports

In our March 2023 offshore market report, Marcon reports 325 supply, tug supply, crew, fast supply and pilot boats officially on the market for sale out of 4,091 tracked worldwide. As the world has reopened post-pandemic, we have seen a corresponding increase in demand for tonnage. The offshore oilfield market has continued to make marked improvement since our September 2022 offshore supply market report, and shows no signs of abeyance looking into the future. Rates continue to strengthen and vessel sales into and out of the oilfield market continue to move at a rapid pace.

In our September 2022 offshore market report, Marcon reports 448 supply, tug supply, crew, fast supply and pilot boats officially on the market for sale out of 4,100 tracked worldwide. The pandemic severely stalled sales activity from the second quarter of 2020 through the end of 2021. To date in 2022, we have seen an increase in sales as sellers' pricing adjust to what the market will bear for age and condition. Improvement in the offshore oilfield and the offshore wind markets are driving demand for units.

In our March 2022 offshore market report, Marcon reports 529 supply, tug supply, crew, fast supply and pilot boats officially on the market for sale out of 4,149 tracked worldwide. While we only completed 10 sales and charters in 2021, we ended first quarter 2022 with eight sales and several more pending. In the market, we see the number of OSVs available for sale decrease, while recently enquiries for vessels has increased. This has led to sellers' prices increasing, even between our initial and follow-up enquiries. The market is tight, with uncertainty still prevalent given the Ukrainian war, new COVID-19 variants and resulting impacts on the global economies.

In our September 2021 offshore market report, Marcon reports 587 supply, tug supply, crew, fast supply and pilot boats officially on the market for sale out of 4,109 tracked worldwide. Since our last report in March 2021, the offshore supply market appears to continue to improve in most geographic regions. With the continuing battle with varying country and industry responses to the COVID 19 pandemic, economic crises, natural disasters, global supply chain disruptions, et al, there are unequal changes to the offshore supply market. Marcon has had few inquiries for offshore supply vessels and crew boats in the U.S., though we have heard of some sales at just above scrap prices for laid up tonnage. Worldwide operational boats are in limited supply, which will improve second-hand prices and day rates in the near term.

In our March 2021 offshore market report, Marcon reports 618 supply, tug supply, crew, fast supply and pilot boats officially on the market for sale out of 4,119 tracked worldwide. The pandemic severely stalled sales activity from the second quarter of 2020 onward. Demand and prices were significantly depressed and we had several sales cancel due to the inability to travel, arrange deliveries or due to cancellation of projects. On a positive note, the market seems to be improving somewhat as we move further into 2021. In spite of this, the OSV market, especially in the U.S., has been over tonnage which will remain an issue impacting prices for the foreseeable future.