Rates for platform supply vessels (PSVs) have more than quadrupled in the North Sea as spot tonnage remains tight.

Brokers reported Nordic American Offshore's 4,200-dwt NAO Power (built 2013) being booked at £22,000 ($28,900) per day by Apache for supply duties.

This is up from £5,000 just four days ago.

Utilisation levels are up at 80% in the North Sea, with some PSVs having been fixed for anchor-handling work due to a lack of such ships in Norway.