Page 43: of Maritime Reporter Magazine (May 2015)

In the last 10 years the Norwegian ? eet The Norwegian ? eet as a collective is wegian international ship owners pos- of 2015, half were due for delivery in has tripled in value, and today it makes generally regarded as young and techni- sess a healthy new build order book. As 2015, and around 35% due for delivery up nearly six percent of the global ? eet, cally advance, a notion proven in num- of January 1, 2015, Norwegian shipown- in 2016. Of the 176 vessels on order, 32 measured in value. In terms of ? eet val- bers, as the average ship age in the Nor- ers have 176 ships on order with a com- percent are being built in China, 24 per- ue, the world maritime powers “Top 10” wegian international ? eet has fallen by bined value of $12.4b, a 20% increase cent are being built in South Korea, and stack up as follows: three years since 2005 to an average age (in terms of the number of ships) over about 15 percent are being built in Nor- of 11. Part of this anti-aging progress is the previous year, though a far cry from way, con? rming the longstanding trend 1. Japan due to the fact that larger, older tonnage the record 378 ships on order in 2008. Of of declining new ship orders in Norwe- 2. Greece has ‘? agged out.’ At the same time, Nor- the 176 ships on order at the beginning gian shipyards.

3. Germany 4. China 5. USA 6. Norway 7. U.K.

8. Singapore 9. South Korea 10. Denmark

The Norwegian-Controlled Fleet

Despite its small population size, Nor- way maintains one of the world’s largest and most modern ? eet of ships, powered by a strong maritime cluster. Today Off- shore Service Vessels – smaller vessels than the traditional deep sea ? eet but much higher technical speci? cation and value – make up the largest sector by number of ships, exceeding 600 vessels at the beginning of 2015.

Modern OSV design and technology has strong roots in Norway, and as Gard

Sem of Sperre notes in a related story on page 48 of this edition, Norway is an “OSV Mecca.” While the size and shape of the col- lective Norwegian ? eet is impressive, it is not immune from trends seen in other developed countries, speci? cally the precipitous fall of the vessels ? ying the

Norwegian ? ag, via either the NOR or

NIS regimes.

Ten years ago 57% of the Norwegian controlled ? eet ? ew the Norwegian ? ag; today 42% ? ies the Norwegian ? ag.

Conversely, the number of ships in the

Norwegian ? eet sailing under foreign ? ags has grown from 697 in 2005 to

I don’t make my 1036 in 2015, a jump of nearly 50%.

money on land

When a boat is an essential tool, it simply has to work, every day

Norway Fast Facts – rain or shine. Each minute spent at the dockside for repairs means lost revenue.

Population: 5,147,792

That’s why we’ve always strived to make high-endurance waterjet

Population Rank: 121 (out of 240) systems that stand up to the toughest conditions and out-last (795,000) Capital: Oslo the competition. Developed from industryleading research and manufactured with the best materials, we can tailor any system

Area: 125,004 square miles to your needs.

Language: Norwegian

That’s how we satisfy our demanding but dedicated cust omers

Religion: Evangelical Lutheran around the globe. They insist on durability and relia bility, and that’s

Currency: Norwegian Krone exactly what we deliver. On large vessels or small, we’ll keep you in

Life Expectancy: 79 operation and take you where you need to go. Every day, all year round.

GDP per Capita: $33,000

Literacy Percent: 100

Meet us at Seawork International.

Sources: National Geographic, CIA marinejetpower.com www.marinelink.com 43

MR #5 (42-49).indd 43 MR #5 (42-49).indd 43 5/8/2015 11:33:53 AM5/8/2015 11:33:53 AM