The West African offshore sector may be less affected by the recent oil price slump than the North Sea, but a surplus of vessels has caused charter day rates to drop by around 25 per cent. Brokers said oil companies have driven down rates for platform supply vessels (PSVs) and anchor handlers due to the rising level of the region's fleet of idle vessels. "There is negative sentiment on pricing, especially for PSVs," said one broker. "Anchor handler rates are bad, but the PSVs have been suffering the most," said another.
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