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    North Sea ERRV market still tight says broker

    News // September 18, 2006

    Offshore Shipbrokers Ltd (OSL) says the ERRV market in the North Sea saw temporary signs of improvement during August as one or two vessels rejoined the spot market during gaps between term commitments.

    "This was short lived, however," said OSL, "and by the end of the month the market was once again virtually sold out for spot availability."

    The term ERRV market remains equally tight with a couple of charterers able to capitalise on other operators rig delays.

    Talsiman were able to Sublet the BUE Canna from BG due to delays with the handover of the Sedco 704. Peak Group were also able to sublet the Viking Victory from Chervon for circa 1 month due to problems with the Transocean Rather.

    OSL said BP’s Jigsaw project now also faces further delays, with start up rumoured to have now slipped back until Dec 06.

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