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    North Sea ERRV market eases as availability increases

    News // January 23, 2009

    Offshore Shipbrokers Ltd (OSL) in the Uk says the North Sea†spot†market for ERRVs remains "reasonably busy," however with improved vessel availability rates have dropped off to around the £6,500-£12,000 level for short term work.

    "Gone are the days of struggling to find availability, with four vessels showing spot availability at the time of writing," said OSl in its latest monthly report on the market.

    Term availability remains reasonably tight for the moment, said the broker, but with a slowing in the rig market beginning to be seen there are signs that things could improve for operators in the coming months.

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