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    April "another good month for supply vessels" says OSL

    News // May 27, 2005
    Offshore Shipbrokers Ltd (OSL) says April was once again a good month for owners with day rates remaining reasonably buoyant, although slightly down from the levels seen previously this year.

    "The month had initially got off to a very quiet start with only limited activity resulting in rates of around the 8500 level for AHTS and 10,000 for cargo runs. An upturn in rig move activity around the middle of the month caused things to tighten with rates for both AHTS & PSVs rising to around the 20,000 level. This was only short lived with rates soon returning to the 8,000-10,000 levels where they remained until virtually the end of the month," said OSL in its latest monthly report.

    "The last week of April however saw another sudden upturn in activity causing rates to rise sharplyin response with AHTS fetching circa 30,000 and PSVs around the 20,000 level. The AHTS owners were undoubtedly hardest hit by this roller coaster ride resulting in less than ideal utilisation with some periods during April having up to 20 vessels laying idle. PSV utilization was however generally much better with vessels finding regular work albeit often at lower rates due to the large number of AHTS competing for cargo runs," said OSL.

    "The general market situation once again remains optimistic for the months ahead however withmany charterers now looking to secure term tonnage to avoid the somewhat turbulent spot market.The current steady flow of requirements and ongoing limited PSV availability, particularly throughthe summer months, continues to be reflected by the steady rise in term rates. A number of newbuild orders also continue to be concluded including Hull Invest AS formed by Eidesvik, Vik & Sandvik and Westcon ordering two VS470 MKII PSV hulls for deliveryin Early2006."

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