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    Broker provides update on North Sea market

    News // May 17, 2004
    Shipbroker Seabrokers says that after many months of painful rates in the North Sea, shipowners "must surely be suffering the effects of some acute headaches."

    As the company noted in its most recent report, several companies have just recently reported first quarter figures, with the majority showing a decline in revenues and net income on the corresponding period last year.

    "One or two owners have taken remedial action by putting their older and smaller tonnage up for sale, while others must be hoping for a change in fortunes before they contemplate changes," noted Seabrokers.

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