Term rates for large platform supply vessels (PSVs) in the North Sea have doubled over the past 12 months, while about 26 vessel requirements were still unfilled this month.
This is “promising momentum” for the sector after years of pain for shipowners, writes Turner Holm, managing director of equity and credit research at Clarksons Platou Securities, this week.
The rates rise, plus more demand, high tender activity and shorter charters periods could all combine to create “a positive feedback cycle” at the end of 2018 or in early 2019, according to Holm.
