NOVEMBER 1, 2018 — Vessel deliveries typically slow down towards the end of the year. If shipowners wait a few weeks, allowing the delivery to slip into the new year, the vessel is considered a whole year younger. Currently, according to VesselsValue, there are 1,966 vessels that have deliveries dates scheduled for 2018, but only 1,100 have been delivered so far meaning 44% of the 2018 orderbook is outstanding.
Of the three top shipbuilding countries, China still has 50% of its 2018 orders to deliver within the last two months of the year, while Japan and South Korea have 25% and 28% of their respective orderbooks currently outstanding. Chinese yards could potentially slip 446 vessels into next year’s delivery schedule.
According to VesselsValue, ship types with the highest number of outstanding 2018 scheduled deliveries include all offshore vessels types (MODUs at 75% 2018 vessels still to be delivered, OSV 69%, OCV 67%) and the Small Dry sector at 54%.
In the years prior to the oil price crash, notes VesselsValur offshore support vessels would typically make up 30-50% of deliveries from American shipyards. In 2017, though, only 13 were delivered vs 63 in 2014. One company bucking the trend is Edison Chouest by taking delivery of 12 OSVs so far this year, with only one still in the schedule.