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    North Sea market began upward trend in May says broker

    News // June 25, 2004
    Seabrokers says May "was the month that the (North Sea) market started to get off the blocks."

    "Both the AHTS and PSV sectors showed signs of "motion" as thingsstarted to move," said Seabrokers in the latest issue of its monthly report, Seabreeze.

    Seabrokers said the large PSV sector in particular had been strong with vessels in general having good utilisation and rates have been more positive than previous months, with rates being in the 7,000 to 10,000 range for much ofthe time.

    Anchor handlers were "a little up and down" but in general the signs are strong.

    Several construction related charters have taken vessels out of the market, and this, combined with a pick up in rig move activities, will see this sector gain speed as we continue into summer, said the broker.

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