Offshore Shipping Online

A publication for the offshore shipping industry published by Clarkson Research

  • Offshore Intelligence Monthly
  • Menu

    ERRV market remains tight, says broker

    News // March 18, 2005
    Offshore Shipbrokers Ltd (OSL) in the UK reports that the ERRV market in the North Sea "continues to be tight on both spot and term availability" and things look to continue this way with vessels being quickly fixed virtually as they are coming free.

    "Once again demand continues to outweigh availability however term rates are remaining steady at the moment at around the 4000 level for "B" Class vessels. Shell has now issued their tender, to companies that have pre-qualified, for total standby vesselmanagement with on line bidding to take place during April. It will be interesting to see how the Owners react to the tender given that not one owner is in a position to offer all tonnage required," noted OSL in its latest monthly report.

    More articles from this category

    More news