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    North Sea standby vessel market update

    Contracts, Tenders and Rates // June 15, 2001
    The market is now very tight with few vessels available for spot jobs. The firmness is expected to continue and is helped by the disposal of older vessels that will not now be reactivated after having been laid up for sometime. A further four vessels have been sold in the last 4-6 weeks, with more expected to follow.

    Recent fixtures include BP Amoco Maersk Don Forties Field 18 months N/R. Outstanding requirements: Agip TBA 1 well June; EDC Monarch 1 well June; Norsk Chevron TBA 45 days September; Norsk Hydro Glomar Grand Banks 1 well June; Talisman Tartan Area 2 years September.

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