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    ERRV market still extremely tight

    News // May 27, 2005
    Offshore Shipbrokers Ltd (OSL) says the ERRV market in the North Sea continues to be "extremely tight" with charterers struggling to secure vessels to cover both spot and term requirements.

    "Rate levels for ERRV's have now hit the 5,000 mark for latest fixtures with this situation looking to continue until the end of the summer at least," said OSL, noting that Shell held its internet bid for its standby vessel supply and management contract on 18th May, with no more than two bidders comprising some five owners, BUE and Havila being one consortium whilst North Star, Boston Putford and Mainport Ireland the other.

    "It is our understanding that no award of contract has currently been made," said OSL at the time.

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