Owners of platform supply vessels are still losing money in a tough North Sea market, but the sector has stabilised as the spot fleet has been cut.
Norwegian broker Seabrokers said a spate of lay-ups from March to May has seen owners reduce ship supply to a "more manageable level".
"Nevertheless, although a bit of stability has been achieved with regards to supply, the same cannot be said for rates," it said.
As coronavirus restrictions and oil price falls hit the market, every fixture in June in the UK fell within a narrow band of £3,000 to £6,000 ($3,710 to $6,805) per day.
In Norway, rates ranged from NOK 50,000 to NOK 75,000 ($5,180 to $7,770) per day.
"No owner is making money at those levels," Seabrokers said.
Anchor-handlers quiet in June
In the anchor-handling tug supply sector, it was another quiet month in terms of the number of requirements.
"However, there are fewer than 30 vessels active on the spot market so it doesn’t take long for the market to tighten," the broker said.
It added that owners are suffering from a severe lack of confidence, but there have been a few rig moves in the UK sector that generated fixtures in the £20,000 to £30,000 range.
"Having said that, the market remained firmly in charterers’ favour for most of the month," Seabrokers said.
In Norway, rates of NOK 325,000 per day marked the upper end of the market for rig moves in June.
PSVs down 57% in June
Seabrokers assessed large PSVs as averaging £4,769 per day last month, down 57% from £11,039 a year ago. The lowest rate was £3,500 per day.
Large AHTS vessels averaged £17,197 — down a third from £25,687 in the same month of 2019.
Norwegian broker Westshore said PSVs are enjoying 80% utilisation this week, with AHTS units on 67%.
It is quoting £14,000 per day for rig moves.
There are just 10 AHTS units left working spot in Norway, with one charter-free, and 14 in the UK, with two vessels open.
A total of 49 PSVs remain laid up, as do 30 AHTS vessels.
Two AHTS units and one PSV have been brought out of lay-up in the last three weeks, Westshore said.
Brazilian bounty
However, Brazil is proving a happier hunting ground for European owners.
Norway's DOF has secured long-term contract extensions for three of its AHTS vessels with oil major Petrobras, supporting exploration and production activities on the Brazilian continental shelf.
The 16,820-hp Skandi Fluminense (built 2007) and 23,112-hp Skandi Urca (built 2014) have each been awarded two-year firm contracts with two years of options, Seabrokers said.
Both contracts are scheduled to begin in September.
The 32,112-bhp Skandi Paraty (built 2016) was awarded a one-year deal that started at the beginning of June.
The Brazilian-built ships are equipped with remotely operated vehicles.
Rival Solstad Offshore has also picked up a pair of term charters with Petrobras.
The 21,457-bp AHTS ships Far Sagaris (built 2009) and Far Statesman (built 2013) have each been fixed for a firm period of three years, under the Brazilian flag.
They will be equipped with ROVs for operations in water depths of 3,000 metres.
Both contracts are due to start in September and are worth more than NOK 800m ($83m) to the company, Seabrokers said.
The Far Sagaris is already based in Brazil, while the Far Statesman is relocating from Australia.
