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    Offshore markets in good health says Fearnleys

    News // July 22, 2005
    The North Sea supply market remains in good health and rates continue firm with recent fixtures for large AHTS ranging from 12,000 to 47,500 averaging 28,960 for the month of June, says broker Fearnleys Offshore Supply in its latest report on the market. Large and medium sized PSV fixtures averaged $22,700 per day during June.

    "With expanding drilling and construction activity, supply vessel earnings are firm in most markets around the world. South East Asia, the Mediterranean, West Africa and Mexico are all experiencing increased activity levels and the demand for supply vessels is continually rising. Owners of supply vessels in the Gulf of Mexico are preparing for a hearty second half to the year, with additional drilling rigs entering the region and a sound construction season approaching. In addition to planned activity,additional work can be expected as result of the hurricanes ripping through the Gulf," said the company in an upbeat report.

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