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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