North Sea ERRV rates soften a little

Contracts, Tenders and Rates - October 12, 2007

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Offshore Shipbrokers Ltd (OSL) in the UK says September was a quiet month for the ERRV market in the North Sea with continued limited availability and little fresh news to report.

OSL said a steady stream of fresh term requirements have come to the market, however, and owners remain bullish with long terms rates remaining in the ,7000-10,000 range, depending on the specification of the vessel.

"Spot rates have softened slightly from the August levels, peaking around 17,500, however vessel availability continues to look tight through until at least the end of November," said OSL in its latest monthly report on the market.

 

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