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    Broker says North Sea PSV remains strong

    News // August 5, 2013

    Vessel owners in the North Sea are still enjoying a prosperous summer, with the PSV spot market continuing to return healthy day rates.

    Broker Seabrokers said vessel availability remained at a premium throughout July, which meant that rates within the spot market continued their upward trajectory. 

    Average PSV spot rates for both medium (<900m deck area) and large (>900m deck area) vessels were both above 27,000 in July, about three times higher than the averages of 9,000-11,000 that were recorded in July 2012.

    While recent spot rates within the North Sea AHTS market have failed to reach the heady heights that were recorded in June, they are still well up on last year. At this stage in 2012, the average monthly rate for rig moves was only around 22,000, considerably less than the 39,000-40,000 that has just been recorded for July 2013.

    "While there are still a host of AHTS vessels currently available on the spot market, charterers will remain conscious of how quickly availability can diminish and rates can increase within this market sector," said Seabrokers.

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