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    Broker provides update on support vessel market

    News // July 23, 2004
    Offshore Shipbrokers Ltd (OSL) in the UK says the spot market during June remained "reasonably buoyant" as owners' confidence began to steadily grow.

    OSL says rates for AHTS undertaking rig moves peaked at 14,000 during the month with figures of 8,000-10,000 being regularly seen.

    PSVs were not far behind peaking at 10,000 with figures of 7,000-8,000 becoming a common occurrence.

    Two newbuilds joined the spot market in June, the UT755L Olympic Provider and the Maersk 'A' Class Maersk Advancer.

    "Both vessels picked up work straight out of the yard, at healthy rates, showing that market conditions were finally starting to look better for owners," said OSL.

    However, OSL also noted that the first week of July saw a slight lull in the market, although owners remain confident rates will remain well above the 3,000 level seen earlier in the year.

    "We don't however expect this lull to last with a very healthy number of rig moves planned throughout the rest of July which should keep much of the AHTS fleet busy," concluded OSL.

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