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    Brief lull in North Sea spot market

    News // July 14, 2000
    Offshore Shipbrokers Ltd reports that for the first time in approximately three weeks, there is reasonable availability on the North Sea spot market.

    This will undoubtedly lead to a drop in rates, however the company says it expects this to be temporary in view of the number of imminent tow-outs and rig moving activity.

    The UT 706 Oil Tracer has been fixed to BP Amoco Trinidad for two years from completion of a Halliburton charter - a departure that will further tighten the PSV market this summer.

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