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    Market remains flat in The Americas

    News // November 21, 2003
    Fearnleys Offshore Supply says Canadian activity remains slow with only a few one well programmes planned before year end.

    "Rumours in the market has it that three or four vessels have been given early redelivery notices, adding up to the fleet of available vessels," said Fearnleys in its latest report on the market, noting that US vessel owners "are still suffering from a flat market, with few new opportunities arising, although rig utilisation is improving, this is the result of rigs leaving the gulf rather than going to work."

    "Shelf activity remains low with operators on hold waiting new licences," said the broker. "A number of newbuild supply vessels are being delivered and further more are under construction. About half have commitments, the other half may effect rates in the short term. Anchor handlers are however earning decent rates compared to international markets, but again utilisation is low with as many as eight to nine medium to large sized anchor handlers available."

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