NAO fingers crossed for higher dayrates

Nordic American Offshore, an offshore vessel owner, is seeing signs of improvement in the platform supply vessel market conditions, and the company hopes that going forward the dayrates will grow further.

Herbjørn Hansson, Executive Chairman of NAO said this week the company had in July secured a medium term employment for one of its vessels, seven months firm + three months options at a rate of $7,200 per day.

Also, he said that NAO had concluded 15 new fixtures in July with rates in the range of $7,200 – $21,000 per day. So far in August, NAO has concluded eight new fixtures between $8,700 and $30,000 per day.

“The UK Platform Supply Vessel (PSV) market is currently stronger than the market on the Norwegian Continental Shelf. We have all our seven operating vessels in the UK sector of the North Sea. Three ships are in lay-up and ready to be reactivated if required.“

“Going forward, we are hopeful that we can conclude fixtures at higher rates than in the first half of this year. The market is volatile by nature. We do not predict how long the stronger market will last – the longer the better,” Hansson said.

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