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    Sales and purchase activity on the increase, says broker

    News // October 1, 2004
    Sale and purchase activity is on the rise, says broker Fearnleys Offshore Supply. "Asking prices for older tonnage have dropped recently, and the demand for more powerful AHTS tonnage and larger PSVs in the Far East and Middle East is creating opportunities for those who wish to dispose of tonnage that no longer meets the requirements of Northern Europe's operations."

    "The North Sea spot market has and will continue to benefit from the frequentdeparture of tonnage to other theaters around the world. Project related work in the Med, North and West Africa and even Brazil has helped an oversupplied North Sea spot market. We predict that these regions will remain very important when it comes to improving the supply/demand balance in Europe. Deepwater drilling in West Africa continues to evolve, although the impact for the AHTS market is limited," said Fearnleys.

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