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clock Created with Sketch. 04/06/16
19:46
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Originally posted by cantankerous
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I was scared out of MRM with a substantial loss months ago as soon as I read page 24 of the last annual report. With the utilisation and charge rates for vessels on the slide, I expected a sizable impairment would be applied. After all, if an asset is not expected to be used in the next year or two, then in my opinion it should be carried in the accounts at only scrap or resale value.
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Hi cantankerous , I agree with what you are saying , but it always has been the long game here . You may note that OPEC does want higher prices , gradually rising over time . No one is making money at these levels , but at the same time they need to keep hjgh cost producers at bay . The lines between demand and supply are about to cross and rebalancing will happen in the third quarter , in a game of Aussi Rules we are about to enter the last quarter . There is still time to get in though ........ Cheers
