Lagos — Leading online valuation and data provider, VesselsValue, has announced its launching of Liftboats.
Commenting on the launch, Robert Day, Head of Offshore at VesselsValue Ltd said: “Since entering the offshore market in 2016, VesselsValue has launched automated values for around 11,000 offshore vessels, and with Liftboats representing a key link between offshore oil and gas assets and the renewables sector, it was the logical next step to take.
“As the only valuation provider producing live, fully automated and 100% unbiased Liftboat valuations, VesselsValue’s unique launch fills an essential gap in the market. In a sector notorious for a lack of transparency and under extreme pressure due to COVID-19, more than ever, real time and objective information is critical.”
Alongside the introduction of daily updated automated values, Liftboats have now been incorporated into VesselsValue’s extensive fleet search database and live AIS and GIS mapping and tracking tool.
The company stated that as of today, the total value of the global Liftboat fleet consisting of 247 vessels is USD 2.16 billion.
All Coast LLC has the largest fleet by number with 29 vessels to its name with a VV value of USD 16 million, but Zakher Marine International have the largest fleet by value with an impressive USD 343 million, spanning their 16 vessels fleet. Recent offshore rumours suggest that Zakher Marine Services may even be selling their entire Liftboat fleet to Abu Dhabi National Oil Company, ADNOC, although there has been no official confirmation as of yet.
Due to the ongoing COVID-19 pandemic, there have been several recent distressed Liftboat sales. Interestingly, the two largest Liftboats in the world fleet by leg length (ft), Teras Fortress 2 and its sister Teras Fortress, were contracted for USD 90 million back in 2012 and yet the former was sold in December 2020 for just USD 22 million, with a VV value of USD 21.48 million as at 17th February 2021.