North Sea platform supply vessel (PSV) spot rates have hit new highs as steady fixing keeps utilisation very high.

Brokers said the 4,800-dwt Standard Provider (built 2010), operated by Fletcher Shipping, was booked by Shell in the UK for supply duties at £21,000 ($27,500) per day.

Rates were £5,500 just two weeks ago.

Figures from broker Westshore show the average spot rate has not reached more than about £13,000 per day each year since 2015.