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    West Africa: broker anticipates new round of charters in July

    News // May 23, 2013

    Chart Shipping says April proved to be a stable month for OSV rates in West Africa, but with low levels of chartering activities.

    On the spot side, the PSV market tightened whilst the AHTS went in the other direction. The term market was less clear, with a significant number of big PSV tenders still in the process of being fixed and little period enquiry for AHTSs.

    "As predicted, the PSV market strengthened in April, with average availability down
    70 per cent on the previous month," said the company. "Whilst in March around six vessels on average had been available at any one time, this became closer to two for April.

    "Spot rates climbed in the PSV sector due to this under-supply, although it’s possible a
    number of owners are holding off fixing longer spot jobs which might interfere with
    the commencement of more favoured term work.

    Chart Shipping said the fixing of a number of tenders has been delayed due to small changes in charterers’ programmes.

    "Once these are resolved, a clearer picture will emerge of the PSV market," said the broker, "with Lukoil in Sierra Leone and Ivory Coast, Tullow in Mauritania and Ghana, Murphy in Cameroon and Petrobras in Angola all poised to take PSVs for commencement in July."


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