Take a listen to the earnings calls of the US OSV operators like Gulfmark.
All OSV companies carry on about their superior modern assets, superior safety records, but no oil company gives a stuff at the moment as long as the job can get done at a good price with min risk.
MRM now has sold its real assets and now is only as good as the lowest possible price.
The good news is that the oil industry now has more leverage in service providers in Australia.
All service providers have a more even playing field now and MRM has lost its premium. Some would argue this is good for the competitive market.
MRM Price at posting:
22.0¢ Sentiment: None Disclosure: Held
