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    Support vessel market remains quiet, says OSL

    News // March 19, 2004
    The spot market during February remained generally quiet other than a brief spell during themiddle of the month where a number of rig moves coincided after a spate of bad weather, said Offshore Shipbrokers Ltd (OSL) in its latest monthly report.

    "During this period we saw rates quickly doubling and reaching a peak at around the ,7000 level. This however only lasted for a few days with rates quickly returning to the 3,000-4,000 level as seen throughout January," said OSL.

    "February saw a definite influx of PSVs returning from term work outside the North Sea with theNormand Flipper, Normand Mermaid, Edda Frigg, Edda Frende, Toisa Invincible and HighlandWarrior all returning. There were however a good number of term PSV fixtures concluded but withmore vessels expected to return during March we don't expect to see a tightening of the market," said OSL.

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