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    Seabrokers describes lively market in North Sea

    News // February 18, 2005
    Broker Seabrokers say that, as expected, the North Sea market continued in January in the samevein of rich form that the market encountered at the back end of 2004."Rig move average rates hit a four year high with charterers expecting to see little change from a 30,000 day rate," said Seabrokers. "Confidence is still high at the moment, and even with a few short term availability peaks, charterers have not been seeing rates drop to 2004 levels; though rates have recently slid back from the 40-50k level that were being casually banded about inmid January," said Seabrokers."Demand has been and remains fairly even at around 130 fixtures a month which has been the case for the past year or so, though notable exceptions were spotted in the highs of last October and lows of January and, surprisingly, December too. Vessel numbers in and around the spot market at any one time remain at around the 60-70 level, though it is expected this level may drop as summer approaches and PSVs get dragged away. Term fixtures have slowed a little this month, but the rates being recently quoted for spring/summer commencement has certainly brought water to charterers' eyes," said the company.

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