Yes, the energy slump (some say a depression is more accurate) has hit many Gulf of Mexico shipyards hard. Several yards that built OSVs like they were going out of style after the permit moratorium ended are now suffering.
Our annual construction survey which comes out next month reflects the down market in the Gulf ― there were 18% fewer vessels, 515, in the 2015 survey. This compares to 628 vessels contained in the 2014 survey. Predictably, the big losers were supply boats and crewboats. This had a big effect on several yards ― Signal, Gulf Coast Shipyard Group and Leevac ― that were either purchased, merged or filed for reorganization.
But how about some good news? Many shipyards have good stories to tell. This contributed to increases in the patrol boat, tug, barge, and fireboat categories.
One success story out of Jeanerette, La., is Metal Shark, which has several patrol boat contracts underway for multiple boats. The company, which recently expanded, may add even more space soon.
Other yards are building plenty of workboats too. Sure, Eastern Shipbuilding Group has built a bunch of OSVs in recent years for Hornbeck, Harvey Gulf and Boldini (Brazil), and still has a few more to finish up, but its current orderbook is flush with non-energy work. It includes an ATB dredge, Z-drive tugs and inland towboats.
Another yard that has built for the offshore industry but has a diverse orderbook is Conrad. Its backlog includes an assortment of barges ― anchor, dry bulk, deck, tank, asphalt, LPG, etc. ― ATB tugs, a towboat and a ferry. And a small Texas yard that has carved out a nice towboat niche is John Bludworth. The same can be said for Geo Shipyard’s research vessel niche.
And let’s not forget about yards on the East and West coasts and the Great Lakes that are busy building pusher tugs, ATB tugs and barges, fireboats, pilot boats and passenger vessels. This list includes All American, Nichols Brothers, Gunderson, Blount, and Bay Shipbuilding.
So enough of the energy-related doom and gloom. There are plenty of good shipyard stories out there to brighten the day.
