Inland Pushboat Market Report - May 2016
Following is a breakdown of pushboats Marcon has available for sale worldwide. Most of these are typical U.S. inland river units, although there are a few foreign pushboats listed from Europe, Latin America and Southeast Asia.
Market Overview
Of the 13,125 vessels (excluding barges) Marcon currently tracks, 709 are inland river pushboats with 66 officially on the market for sale (55 U.S. flag and 11 foreign flag). Six of the boats with age listed were built within the last ten years. 36 boats are forty-five years of age or older. The oldest listed is a 1939-built 1,700BHP, 94 foot pushboat which has been rebuilt and repowered many times since and is still going strong. This is counterbalanced by a newbuilding 1,200HP, 52' inland river pushboat.
Of the vessels listed for sale, CAT engines are most popular with machinery in 24 vessels. These are followed by Cummins in 11, General Motor / Detroit Diesels in nine and 19 with other engine types ranging from Alco to Niigata. Naturally, most of the inland river pushboats Marcon has listed for sale are located in the U.S. with 55 vessels or 85%; followed by 7 or 11% in Europe, two in Africa and one in Canada.
Actual sale prices of all vessels and barges sold by Marcon so far in 2016 averaged 92.24% of asking prices, compared to 2015âs 84.95%. As reported previously, the market remains relatively flat, with some new listings. The market outlook is stable, but still shrinking due to the slowdown in coal, oil and other commodities. There are always vessels unofficially on the market which might be developed on a private & confidential basis, so buyers should contact Marcon with specific requirements. Marcon also has five inland river pushboats listed for charter - four U.S. and one foreign.
Marcon's Market Comments
The US inland river market remains steady since our last report, but lackluster overall with the continued slowdown in oil, coal and other commodities. 2016 is plagued by low oil and commodity prices coupled with a strong US dollar which cuts back on export tonnage. The sale and purchase market for pushboats and river barges remains stable, with new listings generally offered out of competition. Asking prices for older tonnage remain fairly high. Barge newbuild prices have fallen a bit due to lower steel prices, as have scrapping prices for older barges. Push boat newbuilding prices remain stable, but yards continue to be more competitive with one another given overall work is slow. The foreign market for US flag surplus equipment is very slow given the worldwide reduction in various commodities - plus of course the high rate of exchange. There continue to be few, if any, bright spots either foreign or domestic.
Commercial Marine Brokers since 1981