Offshore Shipping Online

A publication for the offshore shipping industry published by Clarkson Research

  • Offshore Intelligence Monthly
  • Menu

    Seabrokers describes "nervous" November

    Contracts, Tenders and Rates // December 6, 2002
    Seabrokers says that after October's bullish month the market for anchor handlers and PSVs in the North Sea gradually returned to the rather unappealing levels in November that unfortunately have been the norm for most of the year in the North Sea.

    "Throughout November, charterers' requirements came to the market in sporadic bursts that leadto a "feast or famine" set of circumstances for vessel owners, " said Seabrokers. "Other than acouple of isolated days during the middle of the month when fixture numbers rose to around 15vessels a day, the rest of the month was blighted by fairly poor levels of business. Poor weather also accounted for the fragile state of the market."

    For October the weather had the effect of keeping vessels out on charters thereby reducingavailability; but during November, the autumn storms made charterers nervous about committing to spot tonnage in case the weather held vessels unnecessarily at location.

    Several days were also "lost" due to both Peterhead and Aberdeen ports being closed. Thiscombined situation led to a trickle of requirements at certain times and a rush to the market by charterers, at others, explained Seabrokers.

    Against the backdrop of slowly increasing availability, rates slowly slid back from October's highs.

    More articles from this category

    More news