A STUDY by international marine movement specialists VesselValue has assessed that almost 40% of the world’s offshore vessels are currently laid up.

VesselsValue’s head of Offshore Robert Day says that it is no secret that the Offshore sector is suffering.

“Estimating the number of vessels in layup is an imperfect science, however, using a big data approach VesselsValue can provide a valid estimation using the following methodology,” Mr Day said.

“VesselsValue observes the recency of a vessel’s AIS signal and filters the data appropriately. Vessels that have not signalled for over a week are considered to be in layup.

“Through observing the figures, we can see that some areas are experiencing more layup that others.

“The worst of the market seems to be in South East Asia, where layup is at more than 36% in each subtype. More unexpectedly though, the US Gulf is closely following S.E.A in terms of layup consistency.

“The Middle East and West Africa regions are in a similar state and least surprisingly North West Europe remains the leading region globally.
Sentiment may change but the figures are what matters and will truly determine the speed and likelihood of a full offshore market recovery,” Mr Day said.