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    ERRV market still very tight says OSL

    News // July 8, 2005
    Offshore Shipbrokers Ltd (OLS) says the ERRV market in the North Sea continues to be "extremely tight" with operators struggling to secure vessels to cover requirements.

    OSL said a number of Norwegian and Danish vessels are now beginning to find work inthe UK sector as charterers are forced to look at all options.

    Rates for latest term fixtures are now around the 5,000-5,500 levels with spot fixtures having on occasion exceeded 10,000.

    "We understand that Shell are now close to announcing the award of contract for their EuropeanScandinavian standby vessel management contract. It is believed that the consortium of NorthStar Shipping, Seacor Boston Putford, Mainport Eire and Sartor Shipping Norway are thesuccessful group however this has not yet been confirmed," said OSL.

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