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    North Sea AHTS rates soar

    News // February 6, 2013

    Broker Seabrokers says 2013 started with a bang in the North Sea, with rates in the AHTS market soaring in the latter stages of January. With a number of rig move requirements hitting the market at the same time, vessel availability diminished, allowing some owners to reap the benefits of significant improvements in short-term rate levels.

    "Having just made the decision to layup 2010-built AHTS Siem Garnet a few days earlier, Siem Offshore performed a swift 'u-turn' towards the end of the month and sent her back to work as spot rates rose to a peak above 100,000," said Seabrokers in its latest report on the market.

    "That represents a remarkable increase from the maximum rates in the 20,000s that were being recorded at the tail-end of 2012.

    "The PSV market has had a less remarkable start to the year, with the over-supply of vessels continuing to prevent any significant increases in day rates.

    "With a host of newbuild PSVs still to be delivered, it will remain difficult for owners to push rates north to any great extent," said Seabrokers. "However, with the overbuilding issue less prevalent in the AHTS market, the likelihood is that rates in this sector are more likely to experience volatility this year."

     

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