I know the Emeco story, tho I don't have too many I do have some, it's been great.
However I think Emeco and OSVs are different.
The OSV market is oversupplied to an almost unbelievable ratio. Half of the global fleet is parked and still some companies have new builds coming.
Also unlike yellow machines, boats rust so if they don't have work they cost dollars just to keep bilge pumps going and banicles off them, let alone the electrical systems etc.
It's interesting seek The Hornbeck Offshore quarterly updates, they publish estimates of the up side scenarios. Huge EPS is possible, indeed EPS could be 4 times the current share price!
But alas the sort of earnings that are possible seem to be the reason everyone built up capacity and now demand has fallen off a cliff the industry is in a destruction mode. Not sure it's over yet.
MRM Price at posting:
19.0¢ Sentiment: None Disclosure: Not Held
