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    North Sea ERRV market likely to remain good for owners in 2006

    News // February 7, 2006

    Broker Offshore Shipbrokers Limited (OSL) says the ERRV market was "extremely good" for owners during 2005 with a definite lack of both spot and term availability, and says it anticipates that the market will remain good in 2006.

    Rates for term fixtures reached in excess of 5,000 per day in 2005, with spot fixtures being rumoured to have reached 20,000 on occasion.

    Describing availability this year, OSL said: "Things look slightly better for 2006, however, with the introduction of BPs Jigsaw programme releasing a number of vessels back into the market. There are however a number of older vessels expected to head for layup or to be sold off to work in other areas."

    As OSL also reported, the Rovde owned Ocean Flower will be undertaking conversion to UK standard and should be back on the market UK certified by circa April 06th, and OH Melling, owners of the UK certified Siddis Pilot and Siddis Sailor, has now sold both vessels to an unidentified Norwegian KS company with vessels being managed by Mokster Shipping. The vessels will be renamed Sea Pilot and Sea Sailor.

     

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