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    Rates continued to fluctuate, says OSL

    News // October 1, 2004
    Shipbroker Offshore Shipbrokers Limited (OSL) says July "proved to be a busy month," but rates fluctuated in a very volatile way, and continued to do so into August, although August proved to be "a more exciting month."

    "It started off slow, with fixtures reported at around 5,000 to 7,000 for both cargo runs and rig moves. However after three weeks the market showed signs of recovery and rates over G10,000 were quickly the norm for both AHTS and PSVs," said OSL.

    "We also witnessed fixtures over 20,000, which is significant considering the highest registered day rate so far in 2004 was 25,000 per day for a rig move. The average rates for large AHTS was up another 1,500 from July to 8,500 per day. The larger PSVs fetched an average of 8,700 per day, while medium sized earned about 6,750 on average."

    "The volatile August climate stretched into September," said OSL, and, at the time of its latest monthly report, rates were on the rise with limited availability in most categories and fixtures reported in the high teens/low twenties.

    "At the moment it is the UK sector that is driving the demand for AHTS and PSVs as several of the planned rig moves on the Norwegian sector have been delayed because of the ongoing strike and lock-out situation between the Norwegian Shipowners' Association and Federation of Oilworkers' Trade Unions. The strike has now been ongoing for 12 weeks," concluded OSL.

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