Chart has short term potential, page-250

Hi Shipmaster.

Nice to hear from you. I was hoping to hear your thoughts at some time.

ORG is doing nicely for me at the moment..

It's good news to hear about some green shoots work wise in Australia.

Relating to Gulfmark, they also operate in SE Asia, same as the JAYA fleet.  I've quoted Gulfmarks operating reports from March 15 and March 16 below. Revenue from $13.3m in 15 to $2.5m in 16.

"
March 15
Revenue in the Southeast Asia region was $13.3 million, compared with $15.1 million in the fourth quarter. The change in revenue was due primarily to a decline in average day rate of 6%, to $13,880 from $14,827 in the fourth quarter, offset by a 2 percentage point utilization improvement.

March 16
First-quarter revenue in the Southeast Asia region was $2.5 million, compared with $4.0 million in the fourth quarter. The change in revenue was due to a decline in average day rate of 9% to $7,070 from $7,803 in the fourth quarter, combined with a 13 percentage point utilization decline. The Company’s marketed utilization in Southeast Asia was 66% during the first quarter. The Company has six vessels currently stacked in Southeast Asia.
"

Link available from http://www.gulfmark.com/news-releases.html

The numbers do worry me significantly, particulary should they be representative of the JAYA operations performance.