Half of OSV newbuilding orders will fail

Half of the offshore support vessel newbuildings slated for delivery in 2009 will fail to hit the water this year, ODS Petrodata says. A maximum 200 of the planned 393 anchor handlers and PSVs will make it into the market in 2009, director David Bichard says.

In an interview at Oslo’s ShippingKlubben, he says it is unrealistic to expect shipyards to deliver the mammoth orderbook as planned. “It can’t happen,” Bichard said.” We would expect that about 200 vessels is the most that can be delivered in one year. “There will be cancellations and there will be a lot more delays. A lot of them will be pushed forward into future years while others will disappear completely.”

Bichard says, however, that despite recent difficulties it is not all doom and gloom in the offshore sector. “Demand continues to rise. That is to be cheerful about,” he explained. “The fundamentals of the market are strong and owners will do okay long term. Short term it is a concern.”

It was reported in January one third of offshore newbuildings for delivery in 2008 were rolled over into this year. A combined total of 80 PSVs and AHTS units were slated to arrive during 2008. However, only 54 ships of North Sea standard were successfully handed over to owners, Norwegian shipbroker Hagland said.