Even without new hulls it shouldn't be complete gloom and doom - as has been mentioned there's the issue of demand for Part Time working contracts, which if granted in significant numbers could produce some demand for new entrants, there's also the fact that retirements will start to pick up as people reach 65...
It's hard to see at the moment what will happen and whether there will be enough demand to trigger a call for LH DEPs in 2017 but as bex88 has said: " if I were swimming and got offered SH I would not be so bold as to turn it down to wait for LH."