AHTS & PSV Charters: Latest Market Trends

The AHTS market bottomed out at at the end of last week at GBP 10K levels, however recent activity has seen and will continue to see rates increase, considers Westshore Shipbrokers.

In the AHTS market the high availability in Norway from earlier in the week has come down with one vessel available, while the UK sees three vessels prompt without future commitments. The market has tightened significantly at the close of the week and another rig move could push it even further.

In the PSV market, Westshore saw more availability than normal recently at the beginning of the week but that has now been picked up with utilization just about at maximum. Norway is sold out, while the UK sees one vessel prompt.

According to Westshore, analysts in the market have commented on the fact that utilization is still high despite a large number of rigs undertaking work in the yard. The market is tight with returning rigs likely to push demand and rates further upwards from the low point seen last week.

Westshore Shipbrokers was established in 1987. Their main focus is to provide the highest standard of Chartering, Sale & Purchase and Market Intelligence to the offshore vessel supply industry. Today Westshore is one of the leading independent offshore shipbroking houses in Norway with experience in the contracting and sale and purchase of offshore vessels both in Norway and on a global basis.

Source: Westshore Shipbrokers