The global AHTS and AHT fleet varies in power output greatly from a diminutive 850 bhp to a substantial 35,024 bhp. The range in size may be over 34,000 bhp, but 93% of the fleet falls between 2,500 and 16,500 bhp. Throughout this publication we divide the AHTS and AHT fleet into six subsectors based on power and supply capability. August’s Graph of the Month splits the fleet down into 16 categories revealing a more detailed profile of the AHTS and AHT fleet.
Shack To Chateau
When the fleet is broken down into 1,000 bhp sectors one of the trends visible is the dominance of vessels with between 4,500 and 5,499 bhp in the current fleet. These vessels account for 24% of the current fleet (703 units) of 2,895 vessels. Some of this peak can be attributed to a few AHTS designs. For example, there are 398 vessels with between 5,150 and 5,250 bhp. All but 90 of these are Chinese built and the majority in yards within China’s Fujian province, in particular Fujian Southeast. The vessels are primarily Conan Wu and Khiam Chuan’s 59m designs. Most are powered by two Caterpillar 3516B engines, providing c.5,200 bhp.
Location, Location, Location
The AHTS fleet is skewed in its deployment as well as its size. NW Europe is a key area for AHTS deployment. However, in overall number terms, the region accounts for only 6.3% of the world’s AHTS fleet deployment, mostly the largest sized vessels. The Asia Pacific region and the Middle East/Indian Sub Continent account for 32% and 22% of deployment respectively, totalling 1,597 vessels. These regions are the primary areas of deployment for Asian built and designed small AHTSs, such as those c.5,200 bhp, reflecting the benign environments in these regions.
AHTS Under The Hammer
The current orderbook stands at 188 vessels as of the 1st of August (6.5% of the fleet), 101 of which are slated for delivery within the rest of this year. Significantly, 89% of the orderbook is to be built at Asian yards, including many of the largest units. The remaining vessels are built at yards in Europe, South America, India and the United States. The >16,500 bhp category contains 17 units on the orderbook, nine of which are to be built in Asia. This category contains the largest share of orders at non-Asian yards (67%).
The shape of the orderbook profile indicates the trend in demand for larger AHTSs, not only in the very largest vessels but also in the small to medium sized vessels. The 4,500 to 5,500 bhp size range remains the largest in the orderbook; however the curve has shifted along the axis indicating a newer preference for larger vessels c.6,500 bhp. For example, 85% of the existing AHTS fleet built at Fujian Southeast is 6,000 bhp.
Splitting the AHTS fleet to a greater extent reveals the key trends affecting the fleet today. Though the largest units get much of the limelight, units suited to benign environments in Asia are far more numerous. Meanwhile, upsizing is occurring across many parts of the fleet, both amongst the largest units and the smaller ‘commodity’ AHTS vessels.