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    Seabrokers describes "jumpy" July

    News // August 30, 2002
    Shipbroking group Seabrokers says the market for vessel owners in the North Sea was "jumpy" in July."At one point, rates reached over 20,000 per day, and then at the other end of the scale theywere well below the 10,000 level. Rate rallies were short lived, with the rates dippingquickly after peaking. The latter part of the month saw a surge in rig move activity, which resulted in active vessel fixing. Rates went up once again but did not reach the 20s that were seen in the early part of July", said Seabrokers in its latest monthly report.

    "Availability during this period was very tight, with market utilization at 100 per cent at one point.The PSVs had a good spell in the second half of the month, which was partly due to the rig move activity. PSV numbers are starting to swell but market activity is keeping them all well occupied at the moment", said the report.

    Looking ahead, Seabrokers said it anticipated that the market in the North Sea would remain "jumpy" for the next several months.

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