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18 February 2021

Introducing Liftboats

VesselsValue launches Liftboats as part of Offshore offering.

Commenting on the launch, Robert Day, Head of Offshore – 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.

A lesson in Liftboats

As of today, the total value of the global Liftboat fleet consisting of 247 vessels is USD 2.16 bil.

All Coast LLC has the largest fleet by number with 29 vessels to its name with a VV value of USD 16 mil, but Zakher Marine International have the largest fleet by value with an impressive USD 343 mil 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.

With the global pandemic taking effect, 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 c. USD 90 mil back in 2012 and yet the former was sold in December 2020 for just USD 22 mil, with a VV value of USD 21.48 mil as at 17th February 2021.

Light at the end of the tunnel

Although it has been a tough year for shipping with Covid-19 still ongoing, it may not be all doom and gloom for our new Liftboats sector. 2020 saw a spotlight on Renewables, particularly Offshore wind energy, and following that, opportunity could come knocking for Liftboat owners.

About VesselsValue

VesselsValue Ltd. (VV) is a leading online valuation and market intelligence provider for the Maritime industry. VV went live in 2011 and has 2,500 users and works with over 600 global companies including major banks, leasing companies, shipowners, investment funds, hedge funds, lawyers, advisors and government regulators. The company has nine offices globally including London, Singapore, Shanghai, Hong Kong, and Oslo, with over 230 employees.

VesselsValue’s mission is to bring transparency and objectivity to the Maritime market through a wide range of services. Data and market insights are available through online access, reports, API feeds and exports, including automated values, transactions and fleet data, as well as AIS and ADS-B derived mapping & tracking, demand, utilisation and trade and people flows.

Visit for more information.

Disclaimer: The purpose of this article is to provide general information and not to provide advice or guidance in relation to particular circumstances. Readers should not make decisions in reliance on any statement or opinion contained in this article.

See Press Disclaimer for use of VV data in the press.