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    North Sea market remains weak says broker - vessel lay ups commence

    News // September 29, 2009

    Broker Nor-Ocean Offshore reports that the North Sea spot market is still weak and there is no sign of a market-turn in the near future.

    As of 28 September, 15 AHTS and 12 PSVs were prompt available in Aberdeen and Norway.

    AHTS rates have varied from 10-20,.000 in the last week, and the PSV rates are still hovering around 2,-4,000, said the broker in the latest issue of Nor-Ocean Offshore Weekly.

    "As a result of the poor market we have seen the first operator laying up vessels in the North Sea. Sartor decided to lay up Ocean Mainport (a PSV built in 1976) and Ocean Star (a standby vessel built in 1975)."

    "We also have indications that other owners could follow in the footsteps of Sartor and lay up older tonnage," said the broker.

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