Day rates surge as flights are left grounded

摘要

At the end of 2009, some vessel owners trading the North Sea spot market would have suggested that only a miracle could have returned day rates to somewhere near the lucrative levels seen prior to the global economic recession. While the Icelandic volcano eruption in mid-April could hardly be described as such, and certainly was not forecast as a potential spike in vessel demand by market analysts, it caused European airspace to be shut down for a week with good results for owners. With vast clouds of volcanic ash stopping oil companies from getting personnel out to offshore locations by means of helicopter, supply vessels sitting idle on the spot market were able to command day rates of up to GBP 40,000 for passenger runs, adding impetus to a seemingly already-improving market. With some large AHTS being fixed for rig moves at GBP 50,000 per day shortly after the dust had settled on the extraordinary events in mid-April, there appears to be growing momentum of a recovery in the North Sea market.