According to VesselsValue out of 465 OSV newbuildings due for delivery in 2017, only 15 have so far left the yards. The number of scheduled deliveries represents a record eclipsing 396 in 2009. By contrast 2018 sees just six units scheduled for delivery.
Malaysian and Singapore owners top the list of those with new tonnage due to come in with 205 new units between owners from the two Southeast Asian nations.
According to VesselsValue Malaysian owners have 109 OSV newbuildings worth $1.32bn due to be delivered in 2017, while Singapore owners top the list in value terms with 96 units worth $1.37bn for delivery this year. Chinese owners come a relative distant third with 36 OSV newbuilds worth $467m for delivery in 2017.
US and UAE owners are fourth and fifth in the list 28 and 24 new vessels this year respectively.
Malaysian owner and vessel builder Nam Cheong tops the list of owner with vessels due for delivery this year 56 OSVs worth $746m. This will massively expand Nam Cheong’s fleet from 18 vessels to 74. Nam Cheong built vessels to stock with an aim to sell the newbuilds on or close to deliver to get a better price.
Second in the list of owners is Malaysia’s Coastal Contracts with 28 units worth $322m, increasing its owned fleet to 29 vessels from just one.
How many of the vessels scheduled for delivery remains to be seen with owners trying to negotiate delays and cancellations. The financial position of a number of owners, particularly in Southeast Asia, is also looking increasingly shaky.
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