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    Seabrokers describes "dismay in December"

    News // January 17, 2003
    The final month of 2002 in the North Sea market was what shipbroking firm Seabrokers described recently as "a frustrating and fairly depressive affair throughout."

    "December's spot market in general was the same picture as November. Aberdeen harbour for the main was packed with available vessels as a result of seasonal low chartering activity levels thatensured that rates remained pretty much at rock bottom levels," said Seabrokers.

    "After the previous two-month's poor weather there was a hint of optimism in the air that after a spate of delayed rig moves backing up, owners might benefit from a pre-festive period of rig moving. Unfortunately this confidence failed to materialise into anything."

    "Week 49 and 51 saw signs of some increased activity, but with so many vessels looking to secure work, rates never really climbed away from November's slump. With New Year just passed and the levels of availability rising almost on a daily basis, early indications for 2003 suggest the market could be in for more of the same for the immediate foreseeable future," said Seabrokers.

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