ERRV market reamins tight - Jigsaw could (finally) become activeNews // April 24, 2007
Offshore Shipbrokers Ltd (OSL) reports that March was another extremely buoyant month for ERRV owners with vessel availability once again extremely tight.
"Last month, many owners were of the opinion that they would see improved availability from March onwards, however this situation has changed somewhat with a steady stream of requirements coming to the market and ongoing delays in BP’s Jigsaw programme," said OSL in its latest monthly report.
"It is now expected that Jigsaw will now not become active in the central North Sea until around late April/early May and BP has extended a number of ongoing ERRV charters to cover this," said OSL.
"This has now left availability extremely limited for the coming months with both spot and terms rate remaining firm, one
charterer during March in fact is reported to have paid £20,000 per day for a 21 day ERRV fixture."