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    North Sea spot market off to a slow start, says broker

    Contracts, Tenders and Rates // January 9, 2004
    The spot market in the North Sea has got off to a slow start this year, says broker Offshore Shipbrokers Ltd (OSL), with only a handful of fixtures to report since the start of the year.

    "There are currently a large number or both AHTS and PSVs available in Aberdeen and rates are reflecting this with recent fixtures being in the 3,000-3,500 region," noted OSL early in the first week of 2004.

    OSL also noted that DOF BOA ASA (a 50/BOA joint venture between DOF and BOA) has completed the purchase of the Boa Giant and the Boa Hercules with the vessels now being re-named the Skandi PMS I and Skandi PMS II.

    The vessels are now leaving the North Sea to undertake an 18 month contract with PMS/Burullus in Egypt, said OSL. The Boa King has also been time chartered from BOA to DOF for a four month period to cover the third PMS/Burullus vessel requirement. This vessel is believed to be acting as a front runner for the Skandi Mogster which will then complete the remaining duration of the 18 months charter.

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