North Sea PSV market troublesome. Ray of light for AHTS

The PSV market is continuing to prove troublesome for vessel owners in the North Sea, Seabrokers write in their May issue of the Seabreeze magazine.

The majority of spot fixtures are coming in with rates of just GBP 2,000 – 4,000, prompting many owners to remove tonnage from the market via layups. There are now more than 20 North Sea PSVs laid up, with more to follow in the coming weeks.

The list of owners who have either laid up PSVs already, or who are preparing to lay up vessels, includes Atlantic Offshore, Blue Ship Invest, Bourbon Offshore, COG Offshore, Deep Ocean, Deep Sea Supply, DOF, Eidesvik, Farstad, GulfMark, Island Offshore, Rem Offshore, Simon Møkster Shipping, Solstad Offshore, Ultrapetrol, Vestland and World Wide Supply.

Ray of light for AHTS

On a brighter note for North Sea owners, conditions within the AHTS market have been considerably better this month, with a number of rig moves hitting the market in quick succession.

This has left the market much tighter than it has been in previous months, with very few vessels available for charterers to choose from, especially those seeking a vessel with an ROV. This has allowed some owners to push rates up into the high GBP 20,000s and GBP 30,000s, Seabrokers wrote in their report.

Click here to read the full Seabreeze May magazine by Seabrokers.