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    North Sea AHTS rates sharply up

    News // May 3, 2013

    Seabrokers reports that volatility in the North Sea spot AHTS market was prevalent again in April, with rates soaring to around NKr 1,000,000 (111,000) for the second time this year.

    "With drilling activity picking up, and with new rigs entering the market, diminishing availability allowed Siem Offshore to pick up a rate in the region of NKr 1,000,000 for Siem Opal for a Marathon Norge rig move," the broker reported.

    "Conditions for North Sea PSV owners are also improving in response to an increase in the number of term fixtures being finalised, both locally and internationally," it said in its latest monthly report.

    "With a reduction in available tonnage within the spot market recently, rates have risen to more than NKr 180,000 (20,000) on occasions for larger vessels.

    "While the PSV order book is still large, there has been a reduction in the number of orders being placed. Owners are now expressing increased optimism for the market, with activity poised to increase in the coming months and years via the pending arrival of a host of newbuild rigs."


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