Broker reviews North Sea spot marketNews // June 14, 2006
Offshore Shipbrokers Ltd (OSL) says the North Sea spot market in May "was once again a profitable place for shipowners with buoyant rates and utilisation levels remaining high throughout the month."
Said OSL in its latest monthly report on the market: "The start of May saw things getting off to a good start with AHTS rates at around the £40,000 level and PSVs fetching £30,000-£35,000 level. The market then picked up further and over the next couple of weeks we saw AHTS regularly fetching £55,000 and PSVs remaining around the £30,000-£35,000 level. The market then took a slight slump from the middle of the month as activity reduced slightly, AHTS were still regularly fixing at between the £20,000-£30,000 levels and PSVs saw a similar drop with rates settling at around the £10,000–£15,000 levels."
OSL said the start of June has so far seen an upturn in activity with rates one the rise once again. At the time of writing AHTS are back to the £50,000 level and with this month expected to see some of the tightest AHTS availability so far this year.