Global Offshore Layups

Our Head of Offshore Robert Day discusses the first of our global Offshore layups infographics. These will be published once a quarter, so stay tuned!

“By observing the figures, we can see the market with the highest layup is the US Gulf.  Even with the increased scrapping seen in this region the US Gulf is still suffering, especially within the OSV and OCV sector.  At the other end of the spectrum is Northwest Europe, with a layup at 14% for OSV’s. We have recently witnessed several Northsea owners reactivate vessels due to increased sentiment and opportunity in the region. Interestingly the Middle East Gulf comes in just behind Northwest Europe. South East Asia and West Africa remain are in a similar state.” 

How we define ‘layups’ in this infographic: We observe the recency of a vessel’s AIS signal and filter the data appropriately. Vessels that have not signalled for over 8 weeks are considered in layup.

Source: VesselsValue
All data valid as of April 2019