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    Safety standby fleets see changes

    News // March 19, 2004
    Offshore Shipbrokers Ltd (OSL) reports that February was an "interesting month" for the North Sea safety standby vessel market, with BUE Viking putting their reserve fleet up for sale.

    These are the vessels that have been laid up in Leith for sometime and total some 12 vessels.

    The Viking Viscount and BUE Foula have already been disposed of - one for further trading outside of the industry and the other for demolition.

    In addition Grampian Shield has been sold to London Greeks.

    OSL confirmed that North Star Shipping has shown their commitment to the market by placing a new building order in Spain for up to four purpose built conventional vessels.

    Deliveries will take place from third quarter 2005.

    "Given the number of term requirements currently on the market however and with a couple moreexpected to come out shortly its looking like rates may begin to improve for owners over the nextfew months," said OSL in its latest monthly report.

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