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Used tugs are rare, says Marcon

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Written by

Nick Blenkey

If you’re looking to buy a used tug right now, you’ll probably have to search a lot harder than you would have last year. Marcon International, a Coupeville, Washington-based shipbroker, has released its latest May 2022 Tugboat Market Report with data from the company’s extensive databases of tugboats for sale in the United States and around the world. . In May this year, Marcon reported 409 tugs officially on the market for sale out of 5,198 tracked. This is a decrease of 13.89% compared to a year ago and 31.03% compared to five years ago. Marcon has closed ten sales so far in 2022 and says it has several more sales pending.

“Activity nearly doubled from 2021 (our worst year ever) and it looks like we’re finally out of the COVID-19 surplus,” Marcon says. “Active tugs and barges are rare, both in the US market and in the international market. Regardless of age, the lack of inventory in the used market is our biggest challenge as brokers. Rising diesel prices have refocused buyers on fuel efficiency, creating greater demand for “right-sized” low BHP tugs. »

“Gone are the days of having to buy or charter a 6,000 BHP tug to do a job that a 4,000 BHP tug can do,” says Marcon. “Inflation in general has driven up prices to maintain and reactivate tugs and barges, driving up prices for units with current certificates. We have also seen several examples of shortages of engines and other parts, which has caused some buyers to stop taking layups Rising oil prices have led to marginal demand for offshore tugs and barges, hitting an already tight market Anticipation of wind projects is forcing many owners to retain various tugs and currently underutilized barges.

  • There is much more in the full report. It’s available HERE

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