Idled supply vessels bring the spot market near balance

The large number of idled offshore ships has brought the North Sea spot market closer to balance, where the active part of the fleet is virtually sold out, notes Westshore Shipbrokers. However Clarksons believe that sustainable rates will first emerge in 2008.

BY JOHANNES HARTKOPF-MIKKELSEN

The North Sea spot market for supply vessels to the offshore industry is inching closer to balance between supply and demand, if one looks beyond the circa 100 vessels which the carriers have idled on a more or less permanent basis.

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