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    North Sea spot market "reasonably busy" says OSL

    News // September 17, 2004
    Offshore Shipbrokers Ltd (OSL) says the North Sea spot market in July and August remained reasonably busy with rates fluctuating dramatically from the 4,000 level up to a peak of 25,000 for an AHTS undertaking a rig move.

    "Looking at things in more detail we saw the start of July being reasonably healthy with PSV rates around the 8,000 level and AHTS rates around the 11,000 level. As the month progressed however we saw rate levels dropping with 5,000 - 7,000 being thenorm," said the company. "By then end of the month fixtures at 4,000 were by now not uncommon for both cargo runs and rig moves. August didn't get off to much of a better start with rates around the 4,000-7,000 level being the norm right up until circa the 20th of the month where we started to see a rapid recovery with fixtures being concluded at the 10,000 - 12,000 levels. By the 25th however rates for AHTS peaked at the 25,000 level with a number of fixtures being reported in the high teens andlow twenties."

    "PSVs were also fetching good rates for owners with 12,000 - 13,000 now being common place. This upturn lasted into early September with rates for PSVs remaining around the 11,000 level however AHTS rates didn't fare quite as well dropping to similarlevels seen for PSVs."

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