North Sea AHTS rates diverge - broker optimistic about 2014

News - December 3, 2013

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Broker Nor-Ocean Offshore says AHTS spot rates were at a level of US$46k last week (the last week of November), down from US$54k, with average on Norwegian side US$75k (57k) sharply above the UK average at US$24k (38k).

"The AHTS spot market has, as expected, entered the winter season over the last couple of weeks," said the broker. "Rates have however diverged, with relatively
decent rates seen for high-spec vessels on Norwegian side – with for example a fixture at NKr 500k (US$82k) - but more moderate rate levels seen for lower-spec’d vessels on the UK side.

"The market is currently on the soft on UK side and more firm on Norwegian side," said the broker.

"We remain bullish on the AHTS market going into 2014 – based on solid fundamentals. Several factors such as a reduced spot fleet, a limited newbuild orderbook, Petrobras likely to pick up capacity, increasing rig activity and projects such as Exxon’s Kara Sea campaign implies that the stars are likely to be aligned for owners of AHTS tonnage next year."

 

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