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April 2012

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Awesome April ?

Has the tide turned in the offshore market ?

SEABREEZE APRIL 2012

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Contents: Market Round-Up 2,4 Feature Vessel 3 Daily Availability -Rates & Utilisation North Sea 5 Newbuildings, Conver- sions, Sale & Purchase 6-8 Rig FPSO, Field and Oil company news. 9-10 Conundrum Corner, 11 Duty Phones Monthly Rates 12 The Seabreeze Monthly Market Report is distributed worldwide through our offices in Aberdeen, Stavanger, Singapore and Rio de Janeiro. Production and Administration: Seabrokers Ltd, Aberdeen For your free copy of Seabreeze, email: chartering@seabrokers.co.uk

Seabrokers Group Forusbeen 78 4033 Stavanger Norway

April was a month where vessel rates appeared to ride the crest of a wave - both PSV and AHTS North Sea spot rates remained at the fairly high levels seen last month, which are well up on the same period last year. Term fixtures continue to make waves on the market, taking spot vessels away and helping to keep the vessel rates high. Charterers were also pleased that current average oil prices continue to be high with no signs of that tide turning at pre-sent. Read on for the latest news on newbuilds surfing into the market as well as details on the raft of term fixtures this month...

Seabrokers Group was established in 1982. We work in the areas of shipbroking, development and facility management of property, radar based sea tracking, man-free decks and Entrepreneur Services. Our head office is situated in Stavanger, but we also have offices in Bergen, Aberdeen, Rio de Janeiro and Singapore. Please visit www.seabrokers-group.com for more information.

Awesome April

Total Take Two... Total E & P UK Limited and Elf Exploration UK Limited have taken two vessels on term char-ter, each for five years firm plus two by one year options. Solstad Offshore’s P105 Nor-mand Aurora (pictured here) and Havila Shipping’s VS 485 CD Havila Commander are the two PSVs that will join the fleet. Both vessels have already be-gun their charters this month.

...And Talisman Take Two... Total were not the only North Sea charterer that were busy this month ; Talisman have also term chartered two PSVs, both for one year firm plus options. The VS 485 CD Solvik Supplier began this work at the start of May whilst Gulf Offshore’s UT 705 Highland Pride has already com-menced the charter.

...Whilst Nexen Nab One Farstad Shipping’s 2010 built PSV Far Server has been contracted by Nexen for 3 months firm plus a one month option. The vessel will work in UK waters with this charter beginning in May 2012.

Departures - North Sea Spot

Pegasus & Taurus Saipem Italy Term

Tor Viking II Shell Alaska Term

Vigeo Adebola (Ex Siem Danis)

SNEPCO Nigeria Term

Normand Draupne EDT Egypt Term

Arrivals - North Sea Spot

Normand Titan Ex Petrobras (Brazil)

Normand Neptun Ex EDT (Egypt)

Brage Trader Ex Yard (Cochin India)

Ocean Mainport Ex lay Up

Olympic Energy Ex Yard

Vidar Viking Ex Estonia Maritime Admin

DEPARTURES & ARRIVALS — April

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DESIGN FEATURE: PAGE 3 STUNNA

This month’s Page 3 Stunna is the recently delivered Olympic Shipping STX PSV06 LNG Olympic Energy. After her christening in Aalesund on the 24th March, the vessel was delivered by the STX Aukra shipyard on the 11th April and immedi-ately joined the North Sea spot market. Vessel specification details include : LOA 94m Deck Area 1,000 m2 Gross Tonnage 5197 tonnes Accommodation 28 persons Extensive underdecks including methanol and special products. NOFO 2009 LNG fuelled DynPos AUTR (DP II) ICE-C Class OIL Rec COMF-V(3) Class SCR catalyst for removal of NOX It is also equipped with an environmentally friendly design, with low resistance hull shape to enable high speed and low fuel consump-tion.

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Page 3 Stunna...

OLYMPIC ENERGY

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MARKET ROUNDUP

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Ocean Installer AS, a HitecVision company, has chartered the Sol-stad DP 3 vessel Normand Mermaid. Fixed for five years firm plus 5 yearly options to carry out subsea construction work, the vessel will begin this work in March 2013. The Normand Mermaid is currently working for Fugro and will continue on this until the new Ocean Installer AS contract begins.

Aye, Aye Skipper!

Solstad VS 4220 PSV Normand Skipper has been chartered by MLS / Det Norske Oljeselskap for supply work. The 2005 built vessel will work in Norwegian waters, supporting the semisub Transocean Barents for around one hun-dred days, commencing in May 2012.

The Gulf Offshore UT 706 North Vanguard has been chartered by Team for work in the North Sea. The PSV (pictured c/o Paul Gowen) began the four month plus options charter at the end of March and is supporting the WilPhoenix semi-submersible.

Vanguard Teams Up

The Not So Little Mermaid

Statoil Secure Several

Island Offshore UT 787 CD Island Vanguard (pictured left) and K Line Offshore STX AH12 CD KL Sandefjord (pictured right c/o Jan Plug) have both been chartered by Statoil beginning in May 15 and June 1st respectively. The Statoil anchor handler contracts are for four months firm plus four months of options.

Kvitsoy Kitted Out

Seabrokers would like to point out the following clarification regarding last month’s article about the Rem Star charter to Peterson. The walk to work system that will be used on this vessel will be the Ampelmann A type.

The STX PSV 09 CD Skandi Kvitsoy has recently delivered from the STX Aukra shipyard in Norway. The DOF owned vessel has now begun a six year term charter with Conocophillips working in the Norwegian sector of the North Sea.

Clarification

Peterson have the Power

Vroon 2006 PSV Power Express has been snapped up by Dutch based Peterson for a term contract. The vessel has already begun the charter which has a period of five months firm plus seven weekly options and more options availa-ble thereafter.

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DAILY AVAILABILITY - RATES & UTILISATION NORTH SEA

Category Average Rate April 2012

Average Rate April 2011

% Change

All Cargo Runs £18,541 £10,705 +73.2%

Cargo Runs PSV’s up to 800M2

£17,543 £10.355 +69.4%

Cargo Runs PSV’s over 800M2

£19,405 £11,330 +71.3%

CNS/NNS/WoS Rig Moves

£37,576 £23,803 +57.9%

Category Minimum

Maximum

All Cargo Runs £9,000 £29,400

Cargo Runs PSV’s up to 800M2

£9,000 £23,000

Cargo Runs PSV’s over 800M2

£12,500 £29,400

Rig Moves Excluding Southern Sector

£15,000 £59,800

Type March 2012 Feb 2012 Jan 2012 Dec 2011 Nov 2011 April 2012

Med PSV 88% 68% 75% 71% 83% 82%

Large PSV 92% 88% 88% 83% 79% 79%

Med AHTS 85% 55% 74% 63% 57% 73%

Large AHTS 78% 65% 70% 81% 46% 77%

RATES & UTILISATION

North Sea Spot Average Utilisation April 2012

North Sea Day Rate Levels - Spot Market April 2012 North Sea Average Rates April 2012

North Sea Vessel Utilisation

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

April PSV 2012 PSV 2011

AHTS 2012 AHTS 2011

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NEWBUILDINGS, CONVERSIONS, SALE & PURCHASE

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STX PSV Holdings Limited are to design and construct an ice class anchor handler for Iceman AS. Iceman AS is an investment com-pany under establishment by Pa-reto Project Finance AS, which is supported and subscribed for by a group of Norwegian and interna-tional investors. The vessel (image pictured left) will be an AH 12 design anchor handler, specially equipped for harsh and arctic areas with a wide 24m beam. STX OSV in Romania will deliver the hull, whilst STX OSV in Nor-way will complete the vessel with delivery expected in mid 2013.

Siem Select STX

Siem Offshore has selected STX OSV Holdings Limited to design and construct two offshore subsea construction vessels (OSCV). Both vessels will be OSCV 11 design which will have an LOA of 121m, beam of 22m and will come equipped with a 250t active heave compensated crane. STX OSV Tulcea in Romania will deliver the hulls with final delivery by STX OSV Brattvaag in Norway scheduled for third and fourth quarter of next year. Norwegian shipowner Siem Offshore also has two PSVs under currently under con-struction by STX OSV in Brazil.

The Iceman Cometh

Farstad Sticks With STX

STX OSV AS also had further reason to celebrate with the news that Farstad Shipping ASA, through its wholly owned subsidiary Farstad Supply, have agreed a NKr 1.2 billion contract with them for the construction of two UT 731 CD anchor handlers. The Rolls Royce Marine designed vessels will have an LOA of 87.4m, a breadth of 21m, bollard pull of around 260 tonnes and total BHP of circa 24,000 brake horse power. STX OSV Lang-sten in Tomrefjord, Norway will outfit the vessels after the hulls are built in Romania. These two anchor handlers will deliver in the first quarter of 2014 but Farstad also has two of the same design vessels currently under construction at Langsten slated for delivery in 2013. Sister ship Far Sagaris is pictured left c/o David Dodds.

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Vessel Type/Design Owner / Manager Commitment

Olympic Energy STX PSV06 LNG

Olympic Shipping N Sea spot

Skandi Kvitsoy STX PSV09 CD

DOF Conocophillips

North Ocean 105 CSV Oceanteam Eastern Marine Services

Polarcus Amani SX 134 seismic Polarcus

Grampian Dee NSS IMT 950 North Star Ship-ping

SPD

Agulhas II Polar Supply S Africa Govt S Africa Govt

Aiviq Ice AHTS Edison Chouest Shell Alaska

Volstad Maritime has awarded a NKr 750 million contract to Bergen Group Fosen for a large, high end offshore construction vessel. The ST-259 CD de-sign will be built by Skipsteknisk of Aalesund, Norway with delivery scheduled for the final quarter of 2013. This is the second contract Volstad Maritime has awarded to the yard this year.

NEWBUILDINGS, CONVERSIONS, SALE & PURCHASE

NEWBUILDS (PREDOMINANTLY EUROPEAN)

Boost For Bergen Group

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Oceanteam Shipping ASA’s latest newbuild lay vessel CSV North Ocean 105 has now been delivered on time and has gone straight on to a 5 year time charter with Eastern Marine Services Inc (a 100% subsidiary of McDermott. Built and de-livered by Metalships in Vigo, Spain, the North Ocean 105 is jointly owned by J Ray McDermott (Norway) AS. The vessel will have an advanced 440 tons top tension vertical reel system for rigid and flexible pipelay for depths of up to 3,000m.

105 For Five

Biggest Built In Brazil

DOF have now named their new STX AH 12 design an-chor handler Skandi Iguacu. The ceremony held at STX OSV shipyard in Niteroi marks this vessel as the biggest AHTS ever built in Brazil. With over 32,000 BHP and more than 300 tons bollard pull yet combining the environmental benefits of a hybrid propulsion system, the Skandi Iguacu is already in de-mand and has been term chartered by Petrobras.

Kleven Konstruction

REM Offshore have signed a NOK 550 million contract with Kleven Maritime for the construction of a large subsea / construction vessel. The Marin Teknikk design MT 6022 (pictured) will have an LOA of 108m, breadth of 22m, accommodation for 110 persons and will be equipped with a large crane capable of lifting 250 tons down to a depth of 650m or 135 tons to a depth of 3,000m. It is currently scheduled for delivery in June 2013. Kleven has previously built and delivered twelve vessels for Rem Offshore and also have one other LNG vessel delivering for them in December 2012.

Polarcus Pleased

Polarcus has recently taken delivery of the newbuild Ul-stein design SX 134 seismic research vessel Polarcus Amani. Featuring an X-Bow ® hull design, this is the first Polarcus vessel built by Ulstein’s own shipyard in Nor-way, but will soon be joined by her sister vessel (yard number 293) at the end of Q2 this year. The vessels are equipped for the Arctic and have feature ICE 1A* Class and Winterised Basic notations from DNV.

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NEWBUILDINGS, CONVERSIONS, SALE & PURCHASE

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North Star Shipping’s latest newbuild ERRV with twin daughter craft has now delivered from Balenciaga shipyard this month. The NSS IMT 950 design Grampian Dee has an LOA of 50.7m, GRT of 1343 tonnes and is fully equipped for UKOOA Class B regulations. The Grampian Dee immediately went on charter in the North Sea to SPD.

Dee Delivers

Need A Lift Or Two?

Montco Offshore’s latest new lift boat has now been delivered. The Gulf Island Fabrication built vessel is called the Liftboat Robert and the company claim it is the world’s largest. Dimensions include 290ft LOA, a breadth of 135ft and legs that measure up to 250ft. This is the seventh in the company’s fleet and it will be used to decommission rigs and platforms. April also saw the naming ceremony for Seajacks’ latest newbuild windfarm installation vessel, the Seajacks Zara-tan. The Gusto MSC NG-5500 design is the third of this vessel type to be built by Lamprell. The Seajacks Zaratan is a DP II, self elevating offshore wind turbine installation vessel with payload capacity of 2,950 tonnes and a 800 tonne leg encircling crane with accommodation for 90 people. Delivery of this unit is scheduled for May of this year.

I Am The Aiviq

Some news that arrived just a tad too late last month was the an-nouncement that Shell has taken delivery of the M/V Aiviq, an ice classed anchor handler built by Edison Chouest in Larose, Louisiana. This has been built specifically for Shell’s 2012 shallow water drilling program off the coast of Alaska in the Beaufort and Chukchi Seas. Shell commissioned ECO to build the 360 ft Aiviq in 2009 and after christening last month the $200 million vessel was planned to join Shell’s drilling fleet in the Pacific Northwest before beginning the Alaska work in July. With ABS A3 Class, the unit is capable of break-ing ice 1 metre thick at a speed of 5 knots. The Aiviq (incidentally which means “walrus” in Inupiat) is pictured left c/o Shell.

Action On Agulhas

STX Finland’s Rauma Shipyard has recently delivered a 134m LOA polar supply and research vessel called the Agulhas II (pictured left c/o STX Finland). The multipurpose ice strength-ened vessel will operate as a logistics support vessel for the research stations of the South African government’s Depart-ment of Environmental Affairs. This means it will work off Ant-arctica as well as the Marion and Gough islands. With accommodation for 45 crew and around 100 passengers the vessel will be well equipped for various duties including marine and geological sea floor research and will also be able to keep a continuous record of meteorological data.

Rig Type Average Rates US$

Semi Sub < 1,500 ft WD 241,000

Semi Sub > 1,500 ft WD 298,000

Semi Sub 4,000 ft + WD 414,000

Drill Ship 4,000 ft + WD 454,000

Jackup IC 300 ft WD 84,000

Jackup IC 300 ft + WD 148,000

Jackup MC 200 ft + WD 63,000

Inactive Rigs Northwest Europe

Name Type Status Location

Sedco 712 SS Cold Stacked Cromarty Firth

JW McLean SS Cold Stacked Cromarty Firth

Energy Exerter JU Likely re-activation Rotterdam

GSF Galaxy I JU Cold Stacked Cromarty Firth

GSP Britannia Ex GSF Britannia

JU Being re-activated Teeside

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S & P / RIG FPSO, FIELD AND OIL COMPANY NEWS

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The heavy lift vessel Stanislav Yudin has been term chartered for installing windfarm components on the Gwynt y Mor Offshore Windfarm Ltd. Operating out of Liverpool Bay, the Seaway Heavy Lift-ing Limited unit began the contract in mid April and will be there until December 2012. The Stanislav Yudin has a lifting capacity of 2,500 tonnes and is equipped with a fully revolving cranes which should be more than adequate to install the jacket foundations and topsides for the two offshore substa-tions along with sixty wind turbine foundations.

Crusader Cruises To Vietnam

The 1992 built AHTS Northern Crusader has been bought by Russian company FEMCO. The ex Trico owned ves-sel has been renamed Venie and also been re-flagged to Liberia (with the option to fly the Russian flag). FEMCO plan to use the vessel for offshore work in Vietnamese waters.

Rig Utilisation

Location Apr 2012 Apr 2011 Apr 2007

North Sea/Europe 90.8 % 83.6% 99%

US Gulf 64.9% 56% 77.4%

Fortune Becomes Vision

Stratus & Nimbus Become Vikings

The SBS Stratus and SBS Nimbus PSVs are on their way back to the North Sea from India and upon arrival they will be renamed Idun Viking and Frigg Viking respectively. The VS 470 MK II designs are now managed by Viking Supply Ships (a subsidiary of Rederi AB TransAtlantic which acquired SBS Marine at the end of 2011). Both vessels will trade the North Sea spot market in May.

Rem Maritime PSV Rem Fortune has been renamed African Vision after being sold to West African company Marine Platforms Ltd. The MT 6012 underwent conversion to an MPSV and then proceeded to Nigeria.

Walk This Way

Stan Is The Man For RWE

Fugro and Van Oord are de-veloping an innovative “walking jack up barge” called the WaveWalker 1. This is designed for operating in rough seas, surf zones, beaches and other intertidal locations. The unit will start operating on the Brazilian Suape Outer Channel later in 2012. Carrying out operations from a stable platform with the added benefit of relocation without floating should reduce the impact of sea conditions thereby increasing opera-tional hours.

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Total E & P has issued a Letter of Award for a drilling contract to Prospect Offshore Drilling (POD). Subject to the execution of a mutually agreed drilling contract, the award is for the provision of POD’s first jack up, the Prospector Rig 1. Charter period is 690 days initially with further options thereafter. Currently the Prospector Rig 1 is under construction by Dalian Shipbuilding Industry Co. in China with delivery planned for January 2013 and the contract beginning in Q2 2013.

Oil Price vs Rig Utilisation

RIG FPSO, FIELD AND OIL COMPANY NEWS

Total Pick A Pod

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Falklands Darwin Discovery

Good news from the Falklands—Borders & Southern Petroleum has reported a “significant” gas condensate discov-ery at their Darwin East prospect. Located south-east of the Falklands, the well was drilled using the Ocean Rig semi Leiv Eiriksson and it encoun-tered a main reservoir interval that was 84.5m thick with net pay of 67.8m. The rig has a further well to drill for Bor-ders & Southern at the Stebbing prospect, followed by two wells for Falkland Oil & Gas.

$123.15

$114.25

$116.84 $116.88

$109.22$110.02

$108.60

$110.71

$107.65

$111.12

$118.12

$124.79

$120.91

83.6% 84.3%

86.8%88.6% 88.8%

87.9% 88.0%88.9%

90.7% 90.7% 90.7% 90.8% 90.8%

56.0%

52.5%53.3% 53.7%

50.4%

52.6%

56.0%

58.6%60.2%

61.9% 62.1%63.7%

64.9%

$70

$80

$90

$100

$110

$120

$130

40%

50%

60%

70%

80%

90%

100%

Apr 11 May 11 Jun 11 Jul 11 Aug 11 Sep 11 Oct 11 Nov 11 Dec 11 Jan 12 Feb 12 Mar 12 Apr 12

Average Brent Crude US$ / Bbl European Rig Utilisation US Gulf Rig Utilisation

Argentina Nationalise There was a shock move from Argentina in their announcement this month to nationalise Spanish controlled oil com-pany YPF SA, accusing YPF of not producing enough from its concessions. Argentinian President Christina Kirch-ner asked her country’s Congress to put 51% of YPF into state hands thereby ousting Spanish energy company Repsol YPF SA as the majority shareholder. The Spanish Prime Minister Mariano Rajoy said this sets a serious precedent and is negative for everyone, whilst Mexico (whose state owned oil company Pemex hold a 9.5% stake in Repsol) also criticised the decision by Argenti-na.

Russian Regions

A strategic cooperation agreement has been signed by Eni and Rosneft for joint exploration of oil and gas in the

Russian regions of the Black and Barents Seas - specifically the Fedynsky and Central Barents fields and the West-

(Continued on page 11)

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Seabrokers Office Contacts Seabrokers Limited - Aberdeen Seabrokers House, Prospect Road Arnhall Business Park, Westhill Aberdeenshire AB32 6FE, Scotland Duty Telephone ++44 1224 747744 (24 Hrs) Duty Mobile ++44 7802 304129 Internet www.seabrokers-group.com

E-Mail chartering@seabrokers.co.uk

Seabrokers Chartering AS - Stavanger Forusbeen 78 - 4033 Stavanger - Norway Duty Telephone ++47 51 815400 (24 Hrs) Internet www.seabrokers-group.com E-mail chartering@seabrokers.no

Seabrokers Brasil Ltda - Rio de Janeiro Rua Lauro Muller no 116, Sala 1404, Edificio Rio Sul Center Cep: 22.290-160, Botafogo, RJ - Rio de Janeiro, Brazil Duty Telephone ++55 21 3505 4224 (24 Hrs) Internet www.seabrokers-group.com E-mail rio@seabrokers-group.com

Seabrokers Pte Ltd - Singapore 165 B Telok Ayer Street, Singapore 068618 Telephone ++65 6224 6062 or 0951 Internet www.seabrokers-group.com

E-mail chartering@seabrokers.sg

Securalift AS - Stavanger Forusbeen 80 - 4033 Stavanger - Norway Telephone ++47 51 815400 Internet www.securalift.com

Sea Surveillance AS - Bergen Lønningsflaten 28 5258 Blomsterdalen, Norway Telephone ++47 55 136500 Internet www.seabrokers-group.com

Last month’s teaser :

What is as light as a feather but even the

strongest man cannot hold for more than a

few minutes ?

Answer :- his breath The winner of last month’s competition is : Peter Williams

This month, our poser is as follows :

John had dinner the other night with his only sibling's husband's mother-in-

law's only daughter-in-law. With whom did he dine?

Answers back to chartering@seabrokers.co.uk for a chance to win a bottle of wine.

For the current or archive copies of Seabreeze go to: http://www.seabrokers.co.uk/ - see under Shipbroking / Market Re-ports. If you wish to Subscribe or Unsubscribe please contact : chartering@seabrokers.co.uk

Conundrum Corner

CONUNDRUM CORNER, DUTY PHONES

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ern Chernomorsky Black Sea field.

The introduction of tax incentives for offshore produc-

tion seems to have been the key factor in getting both

companies to sign. The combined acreage is estimated

to hold total recoverable resources of 36 billion barrels

of oil equivalent. Eni will hold 33.33% in the joint pro-

ject, whilst some of Eni’s international projects may be

participated in by Rosneft.

(Continued from page 10) The Seabreeze Archive

Troll On A Roll

BP has signed a one year plus one year option contract

with North Sea Drilling Group (NSDG) on behalf of

TrollDrilling & Services Ltd. This is for their newbuild

jackup Troll Solution which is a self propelled jackup

service unit of F & G design, capable of working in wa-

ter depths of up to 106m.

The rig is currently being modified in Singapore but

should be on BP’s UK Southern North Sea fields in

June, whereupon it can be used as a support or ac-

commodation vessel and for well interventions.

Twenty Five Arrives 1st of May is a holiday for many, however in Maersk Supply Service Denmark it was the 25 year service an-

niversary gathering for Claus T Sorensen the Chief

Commercial Officer of Maersk Supply Service. There was a large gathering of family, friends and colleagues, at the Lyngby office. Erik Christoffersen from Seabrokers attended and remi-nisced on the market changes over the last 25 years. Seabrokers wish to congratulate Claus on his 25 years and wish him all the best for the next 25!

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NORTH SEA AVERAGE SPOT MONTHLY RATES

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£-

£10,000

£20,000

£30,000

£40,000

£50,000

£60,000

£70,000

£80,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2011 £6,826 £10,187 £15,347 £23,803 £17,260 £40,000 £30,356 £44,280 £39,295 £71,964 £20,967 £22,655

2012 £16,803 £16,448 £34,838 £37,576 £- £- £- £- £- £- £- £-

Rig Moves

£-

£10,000

£20,000

£30,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2011 £7,639 £6,396 £9,514 £11,330 £16,813 £20,208 £20,309 £19,922 £19,834 £17,263 £12,735 £9,704

2012 £9,032 £9,786 £18,983 £19,405 £- £- £- £- £- £- £- £-

PSVs > 800M2

£-

£5,000

£10,000

£15,000

£20,000

£25,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2011 £3,536 £5,412 £8,465 £10,355 £10,923 £19,838 £16,574 £13,828 £16,894 £13,023 £10,870 £8,448

2012 £7,833 £7,804 £17,121 £17,543 £- £- £- £- £- £- £- £-

PSVs < 800M2

£-

£10,000

£20,000

£30,000

£40,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2011 £4,101 £5,814 £8,871 £10,705 £12,771 £20,450 £17,940 £15,823 £19,222 £15,427 £12,337 £9,820

2012 £8,425 £8,624 £17,969 £18,541 £- £- £- £- £- £- £- £-

All Cargo Runs

£-

£5,000

£10,000

£15,000

£20,000

£25,000

£30,000

All Cargo Runs PSV's <800M2 PSVs >800M2 Rig Moves

2011 £7,592 £7,121 £8,710 £15,069

2012 £12,956 £11,300 £14,251 £27,662

Average Day Rates To Month (Apr 2012)