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    February "fumbled forward" says Seabrokers

    News // March 14, 2003
    Seabrokers says February was what it called "a steady month" for the North Sea supply vessel market.

    In the latest issue of its Seabreeze newsletter, Seabrokers said "market activity was enough to keep utilisation ticking along, but levels weren't high enough to force the entire AHTS & PSV fleet out of port."

    "Rate levels as a result looked at times as though they were going to breakout from the low levels the market has seen since November. With the fast turnarounds at sea, vessel availabilitynever completely dried up. With the number of term requirements having risen considerably, mostly for commencement between March and May, perhaps we'll see a glimmer of hope on the horizon for owners as drilling activity increases after the winter break," said Seabrokers.

    "One observation we've noted recently is that the number of anchor handlers has fallen (albeit by only one or two) in the North Sea spot market, in spite of nearly 30 newbuilds arriving in the worldwide market last year. With another 30 or so AHTS vessels due off the production line thisyear - will we be saying the same thing next year?" said Seabrokers.

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