Derrick Offshore Blog

Rate Commentary – November 2011

North Sea

• Anchor handlers faced a rocky month as there was often a considerable amount of available tonnage in both Aberdeen and Norway
• PSV’s were also available in abundance throughout the month as larger vessels saw their margin reduced compared to smaller vessels

West Africa

• Issues with the availability of DP tonnage remain across the region, especially for PSVs
• Security issues are also increasing with the higher frequency of attacks, especially around Nigeria

Asia Pacific

• There was an increase in activity last month but rates remain flat as there still remains an oversupply
• The outlook for the market is becoming more positive as there is expected rise in E&P

US Gulf

• A further strengthening in market utilization and dayrates is apparent in the USGOM for high-spec DP-2 PSV’s based upon recent market fixtures for these vessels

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The Derrick Offshore Rate Commentary is delivered in its entirety to our subscribers. It covers the OSV markets in the North Sea, West Africa, Asia Pacific and the US Gulf and provides a detailed commentary on the events that have transpired over the previous month in each region. The extensive experience and knowledge at Derrick Offshore as well as our partners ensures that the monthly report provides a commentary that is all encompassing and gives our clients an up to date overview across all of these markets.

Other items that are provided in the full version include:

• Fleet summaries of the major offshore support owners
• Analysis of charter rates for PSVs and AHTS over the past 12 months
• Commentary on charter rate movements over the past month
• Outlook on expected charter rate movements over the coming months
• Major news items from the relevant regions

If you have any questions about the Rate Commentary or any other services that Derrick Offshore provide do not hesitate to contact us using the details below.

Dan Quarm or Ian Coates

Tel: +44(0)1483 538336

Email: dan@deroff.com or ian@deroff.com

Rate Commentary – September 2011

North Sea

• NOK 1.5 million (£180,000) dayrates were achieved this month for large anchor handlers although this did not last long.
• It was a consistent month for PSVs as availability remained tight and dayrates stayed at around £20-30,000 for larger units and £10-15,000 for smaller units.

West Africa

• Quiet September across all sectors
• The end of the month saw a number of requirements and tenders so October should see increased activity

Asia Pacific

• Utilisation improving but rates remain flat
• Australia becoming increasingly busy, especially in the North West.

US Gulf

• A strengthening in market utilization and dayrates
• October 3, 2011 BOEMRE splits into two separate agencies – BOEM and BSEE

The Derrick Offshore Rate Commentary is delivered in its entirety to our subscribers. It covers the OSV markets in the North Sea, West Africa, Asia Pacific and the US Gulf and provides a detailed commentary on the events that have transpired over the previous month in each region. The extensive experience and knowledge at Derrick Offshore as well as our partners ensures that the monthly report provides a commentary that is all encompassing and gives our clients an up to date overview across all of these markets.

Other items that are provided in the full version include:

• Fleet summaries of the major offshore support owners
• Analysis of charter rates for PSVs and AHTS over the past 12 months
• Commentary on charter rate movements over the past month
• Outlook on expected charter rate movements over the coming months
• Major news items from the relevant regions

If you have any questions about the Rate Commentary or any other services that Derrick Offshore provide do not hesitate to contact us using the details below.

Dan Quarm or Ian Coates

Tel: +44(0)1483 538336

Email: dan@deroff.com or ian@deroff.com