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    Stewart Group notes increase in activity in term market

    Contracts, Tenders and Rates // March 19, 2004
    Brokers The Stewart Group say February saw an increase in activity levels in the term market in the North Sea.

    "The rise in activity was nothing dramatic," said the company in its latest monthly report, "butnoticeably different to levels seen in previous months."

    Fresh requirements came to the market from Global Sante Fe, Marathon Norway, Premier Oil Exploration and Statoil who all required PSVs for upcoming projects.

    The broker said the first week of March saw TEAM Marine come to the market for a couple of PSVs, one commencing in April and the other in May.

    Since these requirements appeared on the market last month Global Sante Fe, CNR, Statoil and Premier Oil Exploration have all chartered PSVs.

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