Tank Barge - Past Reports

Tank Barge Market Report - Oct 2024

The tank barge market in 2024 demonstrated exceptional strength, with utilization rates consistently above 90% and significant price increases. Marcon reports a substantial reduction in available barges for sale, driving up prices with term contract renewals increasing in the low 20% range and spot market prices rising in the low 30% range. Major operators like Kirby Corporation confirm these trends. The tight supply-demand balance, fueled by robust customer demand and limited new supply, has created a favorable environment for barge owners and operators. This trend is expected to continue into 2025, although industry participants should remain aware of potential risks such as weather impacts, refinery utilization fluctuations, and economic uncertainties affecting shipping volumes.

Tank Barge Market Report - April 2024

As of April, Marcon had 14 inland and 14 ocean/coastal tank barges available for sale out of 678 tracked. 2023 experienced a generally improved market for inland and coastal tank barge service in the U.S. and has continued to improve with increased day rates and utilization in first quarter 2024 over first quarter 2023. Mild winter conditions bolstered the inland market. The coastal market especially is experiencing a shortage of available tonnage with units previously on the market being sold or returned to service. Shipyards are reporting increases in orders and backlog, with openings at yards for routine maintenance work difficult to find. Demand, lack of supply and rising newbuild costs have increased prices for secondhand equipment, even older or in rough condition units.

Tank Barge Market Report - Oct 2023

As of October, Marcon had 12 inland and 22 ocean/coastal tank barges available for sale out of 676 tracked. Since our last report, the generally improved market for inland and coastal tank barge service in the U.S. has continued to maintain momentum into this past quarter of 2023. Year on year spot pricing is reported to be improving in both segments, and term contracts are being renewed at higher rates than a year ago as well. However, low river levels and Illinois lock closures caused drops in overall inland utilization, compared to this time last year. In the coastal market we have seen a drop in available tonnage during the past six to eight months with good utilization levels being advised.

Tank Barge Market Report - April 2023

As of April, Marcon had 13 inland and 18 ocean/coastal tank barges available for sale out of 676 tracked. The tank barge market remains strong, still in a recovery trend. The inland market is experiencing high utilization and rising rates. The coastal market is steady, with decent utilization and fairly flat rates. Available for sale ocean and inland tank barges are becoming more difficult to find, though we have a few ocean barges in the 80,000BBL range available.

Tank Barge Market Report - Oct 2022

As of October, Marcon had 14 inland and 22 ocean/coastal tank barges available for sale out of 673 tracked. The tank barge market remains strong on a continued uptrend fueled by higher commodity demand and prices. The inland market is strong with high utilization and rising rates. Utilization in the 90 percent range, coupled with low levels of new construction of barges, is driving rates higher. The coastal market is steady, but still suffering from an overhang of excess capacity.

Tank Barge Market Report - April 2022

As of April, Marcon had 19 inland and 21 ocean/coastal tank barges available for sale out of 676 tracked. Rampant inflation in the commercial marine industry is causing all costs in the tank barge sector to rapidly rise. Oil prices have soared since the February 2022 Russian invasion of Ukraine and looks to continue. Newbuilding costs in the US are up roughly 40%-50% from November 2021 to March 2022, having an immediate effect on newbuilding market demand, while boosting the demand for working / certified tonnage in the US petroleum barging market. Currently the inland market has high utilization rates due to demand exceeding supply, whereas the coastal market is lagging with excess tonnage languishing on the market.

Tank Barge Market Report - Oct 2021

As of October, Marcon had 19 inland and 25 ocean or coastal tank barges available for sale out of 679 tracked, eight fewer inland but nine more ocean than was available one year ago. The tank barge market in the U.S. has continued to struggle over the past several months. Much can be attributed to reduced shipment volumes related to the Covid-19 Delta variance. Inland market utilization, which was hit hard by Hurricane Ida, should improve at a faster rate than coastal market utilization, but we hope for both to eventually settle out at pre-pandemic levels.