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    Broker reports on ERRV market in North Sea

    News // July 23, 2004
    Offshore Shipbrokers Ltd (OSL) says the ERRV market in the North Sea continues to be tight on both the spot and term markets, with things looking to remain this way for the next month or two as vessels are being repeatedly extended.

    ConocoPhilips has been on the market for renewal of up to five vessels with a duration of 3-5 years each. However this requirement has now been covered by renewing contracts on all vessels bar one.

    The ex PSV Northern Viking, which has recently been sold to Sartor Shipping for conversion, has now been chartered to replace the BUE vessel which was released.

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