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    Healthy rates obtained in first two months of year

    News // March 18, 2005
    Offshore Shipbrokers Ltd (OSL) reports that the spot market "got off to a healthy start" in 2005 with rates in January & February being unusually high for this typically quiet time of year.

    "The market quickly became a rollercoaster ride for both owners and charterers however with rate levels fluctuating repeatedly from sub 10,000 to 40,000+, often within the space of only a few days," said OSL in its latest monthly report.

    "The start of January initially saw rates around the 10,000 level for both AHTS & PSVs howeverthings quickly picked up and by the middle of the month AHTS levels had hit nearly 50,000 withPSVs not far behind peaking at around the 40,000 level," OSL said.

    "Rate levels then remained extremely buoyant until the start of February, however by the middle ofFebruary rates had dropped off considerably with fixtures being reported at the 10,000-15,000level for AHTS and PSVs fetching around the 10,000 level. This situation was quickly reversed and within a few days rates were again on the rise. By around the third week of February, AHTS were fetching around the 45,000 level with PSVs fetching in excess of 20,000. Rates then remained at these levels right through until the end of February."

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