32 % of offshore-vessels not in operation

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It is no secret that shipping companies that deal in the offshore sector are under pressure. VesselsValues' offshore manager Robert Day has a new study out on how many ships are currently not in service on a global scale, a study that shows that 32 percent of the worlds ships are not in service. The situation is worst in South East Asia.

“The estimated number of out of service vessels is an incomplete science, but with the help of a large quantity of data, VesselsValue are able to give an approximate estimate by the use of the following method. VV observes the news of a vessels AIS-signal og filtrates this data on a regular basis. The vessels that do not respond within one week are considered to be non operating.

By observing the data, one can see that some areas are harder hit than others. The worst area right now seems to be in Southeast Asia, with more than 36 percent of various ship types being out of operation. More unexpectedly, the American golf are not far behind this percentage. The Middle East and West Africa are witnessing a similar experience, while Northwest Europe does not quite surprisingly have the highest number of vessels in operation.

Source: VesselsValue / Maritime Danmark