EuropeOffshore

North Sea offshore business picks up

The North Sea is seeing a spurt of offshore activity, confounding the doomsayers.

Offshore Merchant Partners (OMP) reports that PSV spot rates have soared in the first week of June, up from $14,700 to $17,500, the highest weekly average seen since 2014.

OMP did warn however: “[T]he rate level remains at risk if a substantial number of vessels currently in lay-up return to service.”

There has also been a lot of business for anchor handlers in the North Sea in early June. Staoil alone took nine AHTSs in the first week of the month, making available tonnage very tight all of a sudden. This has not yet translated into a rate hike – OMP noting that AHTS rates actually dropped $3,000 last week to $12,000.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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