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    US market picking up says broker

    News // February 4, 2005
    Shipbroker Marcon says offshore vessel operators in the Gulf of Mexico "are finding that the market is still picking up steam".

    "Clean-up work on following hurricane damage has continued to be steady as reconstruction work is greater than initially anticipated and this work is expected to continue for at least the next two quarters. In addition deepwater exploration continues toslowly expand and contracts for this work tend to be for longer contract periods than projects on the shelf," said Marcon.

    "Most indications show that day rates and utilisation are still picking up and finding a wellmaintained vessel ready to go to work is becoming more of an effort," said Marcon, noting that larger crew boats and supply vessels over 200ft have seen the greatest increase in day rates, with US Flag, 145ft and longer crew boats are enjoying 100 per cent utilisation.

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