Tug Boat - Past Reports

In November, Marcon reported 475 tugs officially on the market for sale out of 5,221 tracked. This is down 22.89% from one year ago, and down 27.48% from five years ago. Marcon closed ten sales and one charter in 2021. Many of the 2020 deals were well in the works before the Covid-19 situation developed and oil prices crashed. Throughout most of 2020 and early 2021, the market was extremely slow both domestically and world-wide. We continue to see a pickup in inquiries and inspections and have multiple sales pending at this time as business rebounds.

In May, Marcon reported 615 tugs officially on the market for sale out of 5,203 tracked. This is up 15.17% from one year ago, but down 1.28% from five years ago. Marcon has closed six sales and one charter so far in 2021 after ending 2020 with 22 sales and charters completed. Many of the 2020 deals were well in the works before the Covid-19 situation developed and oil prices crashed. Throughout most of 2020 and early 2021, the market was extremely slow both domestically and world-wide. As we have been seeing an increase in inquiries lately, we are hopeful that a rebound is emerging as more people are vaccinated, Covid-19 slowly subsides and economies turn around with strong fiscal stimulus.

In November, Marcon reported 616 tugs officially on the market for sale out of 5,202 tracked. This is up 3.01% from one year ago, though down 3.75% from five years ago. Marcon ended 2020 with 22 sales and charters completed, but many deals were well in the works before the Covid-19 situation developed and oil prices crashed. Since then, the market has been extremely slow across the board both domestically and world-wide. Despite price reductions for many classes of vessels and barges, delayed or cancelled projects, lack of ability to travel and general economic uncertainty has made buyers scarce.

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.

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.

Marcon reports 547 tugs officially on the market for sale out of 5,038 tracked. This is down 6.5% 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 March, Marcon has sold three tugs so far this year with two about 21 year olds selling for region $1,400-$1,500/BHP and the third, 41 years of age and in the right place at the right time, selling for $374.44/BHP. In 2018, 18 tugs were sold for an average $84.39/BHP with an average age of 37 years.

Marcon reports 523 tugs officially on the market for sale out of 5,057 tracked. This is down 11.8% 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 12 tugs so far in 2018 with an average price per BHP of $64.84 and average age of 39 years, reflecting owners selling off under-utilized or laid up vessels at bargain prices.

Marcon had 635 tugs officially on the market for sale out of 5,025 tracked. Owners continue to try to sell viable units, though we still see a number of older and lower horsepower tugs going to scrap yards.

Marcon had 593 tugs officially on the market for sale out of 4,982 tracked. Inventory for sale dropped as more vessels were scrapped due to age and lack of work.