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    Rig count offshore Africa continues to decline

    News // November 22, 2016

    Broker Chart Shipping says the working rig count offshore West and East Africa fell by another four units in October, down to a total of 20 units.

    "This represents a 71 per cent drop since December 2014," said the broker. "Unsurprisingly, day rates on all
    vessels apart from mid-sized PSVs nudged down further over the course of October.

    "At the same," said Chart Shipping, "with the single exception of large PSVs, which remained static, the availability on all other vessel classes fell in October for the second month in a row. This fall in availability is, in most part, a result of continued lay-ups."

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