Crew Boat Market Report - November 2016
Marcon presently has the following crew boats, pilot boats and launches officially available for sale, both domestically and abroad. Others can be developed on a private and confidential basis.
Market Overview
Of the 13,111 vessels and 3,847 barges Marcon tracks, 1,126 are crew, fast supply & pilot boats with 215 officially on the market for sale, plus we have 57 boats available for charter worldwide. 35.8% of the boats officially for sale are U.S. flag. 78 crew boats for sale worldwide were built within the last 10 years. 61 boats, or 28.37%, are 25 years of age or older. The oldest boat listed is a 40', 240BHP 1957 built and located in the US Northwest. This vessel is counterbalanced by three foreign-built newbuilds 82' to 132.1' LOA crewboats scheduled for delivery in 2016 in Southeast Asia and the Far East.
The number of crew boats on the market for sale has remained at a historically elevated level, but the number of new listings being added has slowed. Utilization levels seem to have stabilized at a low level. Although asking prices remain stable in most cases, sellers have become more negotiable given the small number of buyers. Land based rig counts have started an upward trend in the last few months, but the offshore market has not seen any improvement as of yet. Actual sale prices of all vessels & barges sold by Marcon so far in 2016 averaged 94.15% of asking prices, compared to 2015's 84.95%. Where vessel location is known, 74 boats for sale are in the U.S., followed by 40 in Southeast Asia, 25 in Europe, 21 in the Mid-East, 13 in Africa, 11 in Latin America, 9 in the Mediterranean, 7 in the Caribbean, 6 in Southwest Asia, 5 at undisclosed locations and 2 each in the Far East and the South Pacific. Of the crew, pilot boats and launches listed for sale, the most popular engine is Cummins in 60 of the 215 boats where engines are given, followed by 56 CATs, 53 GMs, 9 MTUs, 7 each with MAN and Volvo/Volvo Pentas, 5 Yanmar powered boats and 18 other types.
Marcon Market Comments
Oil prices continue to bounce around $50/bbl with no clear direction. Although OPEC has announced plans to cut production, the US land based rig count continues to slowly increase likely negating any supply reductions. The number of FSVs and FSIVs on the market for sale remains at all-time highs. The only positive seems to be that the number of new listings has slowed perhaps indicating that utilization rates have bottomed out. There remain few buyers with a lack of new charters. Vessel price expectations continue to decline with some boats for sale having been idle for over 2 years. Any sales have involved opportunistic buyers and deeply discounted prices. Marcon can develop various sizes of boats for sale on a private and confidential basis - especially if sold out of immediate competition. Please contact us with your requirements.
Commercial Marine Brokers since 1981