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    Good month for North Sea supply ship operators

    Contracts, Tenders and Rates // July 13, 2001
    Offshore Shipbrokers reports that, as expected, June was a very good month for owners with tight availability throughout the month.

    The Maureen platform tow took a large number of vessels from the market - the tow itself has gone according to schedule with the vessels now returning to the market.

    Rates of 30/40,000 level have been paid on several occasions for rig moves and special projects whilst cargo runs have peaked at 30,000.

    Whilst there is a sense of optimism in the general market there seems to be some concern about the cable lay market with concerns that it will be soft for the next two years. The problem seems to be that the demand for cable bandwidth is not at the levelexpected which is a reflection of the general market sentiment for technology and telecom stocks. Vessels are now being offered for re-let thatmust make those owners who are building on speculation very nervous.

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