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    End of year flurry in North Sea term market; long term outlook poor

    Contracts, Tenders and Rates // January 31, 2003
    Seabrokers reports that the December term market in the North Sea finished with a flurry.

    TFE concluded a one year plus options contract for the Skandi Buchan commencing this month, and also extended the charter of the Tromsfalken by declaring a one year option.

    Seabrokers said it is anticipated that a number of well support contracts would be offered to the market by the end of January.

    "Overall, the demand for long term charters commencing in 2003 is not considered to be high, with availability of all classes of vessels continuing to increase," said Seabrokers in the December issue of its newsletter Seabreeze.

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