No news from MRM and I'd be thinking we wont hear anything until...

No news from MRM and I'd be thinking we wont hear anything until the accountants and auditors go through the books as part of the year end process. That would be late July ish.

MRM is holding up surprisingly well IMO as I start to see the massive oversupply problems of the OSV industry I can only conclude a bearish view. It doesn't mean it don't like MRM, I actually do, but taking emotion out of the equation one needs too.

The half year results can only be terrible I fear. I'm thinking overall utilisation in the 30 to 40 percent mark, heaps of stacked boars, especially the ex Jaya fleet, lower day rates by a fair bit and big time asset impairments. The perfect storm is coming I fear..

In the meantime I remain somewhat amazed that the stock is at the current share price, as SP carnage once information comes available is a near certainty.