NEW RATES AND NEW DEALS FOR NEWBUILDS

摘要

This year's Annual Review issue of OSJ sees some incredibly sophisticated, high spec vessels being delivered into what is, unfortunately, one of the most depressed markets for offshore support vessels in decades. Not much more than two years ago the oil price was still well above US$100/barrel and, despite warnings about oversupply and the likely effect on rates, owners continued to pile into the newbuilding market. We all know what has happened since, and charter rates and contract terms for many of the newbuilds described in this issue have been renegotiated in the last 12 months. Some of the owners highlighted in this issue are lucky to have long-term charters for the vessels described; some owners whose vessels were highlighted in the 2015 Annual Review have gone out of business. Even in the unlikely event that the oil price was to increase steeply there is still a significant supply overhang through which to work, not forgetting the many hundreds of vessels that have been laid up around the world. In such a situation, what is an owner to do except take it on the chin and renegotiate the best possible rate for their newbuild?