ShippingWatch

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.

Photo: Maersk Supply Service

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.

This is the evaluation from Norwegian brokerage firm Westshore Shipbrokers after both the smaller supply vessels (PSV) and larger anchor handling vessels (AHTS) have come close to selling out on the spot market over recent weeks.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Reefer rates to peak in fall season, followed by slow decline

Rates on refrigerated containers, or reefers, have increased by 50% in the second quarter compared to the same period in 2021, with growth set to continue in the third quarter. 2023, however, will see rates slowly declining, forecasts consultancy Drewry.

Further reading

Related articles

Latest news

See all jobs