Offshore Vessel Prices Soar as Newbuild Values Nearly Double

A recent report from VesselsValue highlights the dramatic rise in offshore vessel prices, with some asset types experiencing nearly a twofold increase in just three years.

Prices for five-year-old large anchor handling tug supply (AHTS) vessels have surged by an impressive 97% since 2021, according to VesselsValue data. Meanwhile, platform supply vessels (PSVs) have seen a 67% jump in value, driven by a limited orderbook for new vessels.

“Vessel prices in the offshore market have risen by a huge margin since 2021,” said Dan Nash, associate director of valuation and analytics at VesselsValue.

Offshore support vessel (OSV) rates have remained strong throughout 2024, with the OSV rate index, managed by Clarksons Research, reaching record highs. This surpasses the previous peak set in late 2008.

“OSV demand is up 2% year-on-year, or 30% since the 2020 low (75% utilization). Given the small orderbook and challenges in reactivating laid-up vessels, day rates are likely to stay strong,” Clarksons commented in a recent offshore market update.

While many shipping segments are currently seeing significant profitability, offshore support vessels represent the top investment opportunity today, according to new analysis shared last month in Singapore.

At the Marine Money Asia conference, Dr. Adam Kent, managing director of the British consultancy Maritime Strategies International (MSI), offered his insights on the shipping and offshore markets, identifying the best current investments.

According to MSI’s analysis, buying a five-year-old secondhand vessel, chartering it for three years, and then selling it offers the best returns in today’s shipping market, particularly for offshore vessels like PSVs and anchor handlers.