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    Spot market remains poor, says OSL

    News // April 16, 2004
    Offshore Shipbrokers Ltd (OSL) says the spot market in the North Sea during March continued to follow the pattern seen throughout January and February with a brief tightening of the market mid month caused by bad weather and a number ofrig moves coinciding.

    "During this brief upturn rates for cargo runs reached around the 15,000 level with AHTS performing rig moves reached around the 17,000 level. Once again however this tightening didn't last long and rates quickly returned to the 3500 - 4000 level that seems to have become the normal so far this year," said OSL in its latest monthly report.

    "Owners however are becoming more optimistic from next month onwards due to the large number of drilling rigs now coming out of lay up to undertake summer drilling programmes," noted OSL.

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