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    Broker says day rates may have bottomed out

    News // December 15, 2009

    November vessel day rates gave very little for owners to be optimistic about with rates showing no improvement at all from last months levels, reports broker Offshore Shipbrokers Ltd (OSL).

    "On the plus side however, rates did not drop any further and it looks like they may now finally have found the bottom," said the company.

    "It is clear that with PSVs fixing regularly at £2,000‐ 3,000 per day, and AHTS at £5,000, owners are putting these vessels out to work at a considerable loss. Some owners have in fact decided that they are losing less money by having the vessel in lay‐up and we are seeing more and more heading this way with some 10 vessels laid up already," said OSL.

    "November did however start to show some signs of hope with regards to the rigmarket with a healthy number of fixtures concluded for commencements during 2010 and 2011. It would seem that rig day rates have now fallen to a level where they are once again becoming attractive to operators," the broker reported in its latest monthly report on the North Sea market.

    "For the latest round of rig fixtures we have seen standard jack‐ups fetching between US$90,000–115,000, heavy duty jack‐up’s fetching US$140,000–180,000, and standard semi-sub’s now fixing at around US$250,000–285,000."


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