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    Rates remain soft in West/South Africa, says broker

    News // November 21, 2003
    Despite a declining number of semis working in West Africa, vessel utilisation has remained decent for deepwater equipment, reports broker Fearnleys Offshore Supply in its latest market report.

    "Availability of large anchor handlers has been limited for the last couple of months, but despite the hike in utilisation, rates have remained soft. As for straight supply vessels, a couple of larger units seem to be available at any one time, but utilisation in general seems to be holding up."

    "Again, rates remain soft compared to earlier in the year," said the broker, noting that utilisation for smaller vessels remains poor, much as a result of a downbeat jack-up market."

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