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    Mixed start to September in North Sea market

    News // September 7, 2009

    Broker Baremar Seascope Offshore says the beginning of September has brought with it a mixed bag for the North Sea vessel market.

    Owners of anchor handlers have been give some brief respite from the plummeting rates of recent times, however, rates on the PSV market continue to suffer as the excess tonnage on the spot market weighs down on rates.

    "Poor weather offshore and clashing rig move schedules brought about a reprieve for AHTS owners from the punishing times of the last few months although it is difficult to believe it will be long before the number of prompt anchor handlers rises above the sparse few currently sitting prompt," said the broker.

    However, Braemar Seascope Offshore said the picture for the PSV spot market is looking "very harsh" for owners with rates falling back to day rate levels last seen in 2004.

    Average day-rates in August for large PSVs were 5,000 and 4,000 for medium PSVs. Some of the most recent fixtures recorded have been lower than 2,500.

    Owners of anchor handlers have fared a little better, possibly due to a number of overseas fixtures for vessels such as Havila Neptune, which has been fixed into An-gola. Average figures for AHTS charters in August were 29,000 for large AHTS and 23,000 for medium vessels.


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