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    North Sea spot rates fluctuate but hold promose of better ones ahead

    News // March 2, 2011

    Seabrokers says North Sea spot rates have mirrored temperatures in February in the area, recording wide fluctuations.

    PSV day rates varied from a low of £,2200 to a "euphoric" £18,000 while anchor handlers ranged from £4,300 to £21,500, said the broker in the latest issue of its report Seabreeze.

    The broker said utilisation was up on January but compared to a year ago PSV rates are about a third lower while the AHTS have fared better with a 14 per cent improvement on this time last year.

    "In the term market there is a reasonable level of enquiry which is helping to absorb the continuing flow of new tonnage," said Seabrokers.

    "Fourth quarter 2010 results from most owners showed a marked year on year improvement and owners are increasingly optimistic that the green shoots of recovery will sustain vigorous growth," said the company.

    "As March begins, there are buds of promise that 2011 will be a better year for owners with the prospect of an even better display in 2012, while the recent hike in the oil price hails the promise of oil companies bursting into life to take advantage of the hopefully benign summer season. "


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