huge debts carried by Singapore-listed offshore firms, page-31

Hi Yellow Fin.

Good points made in your thinking above, indeed there has to be a bottom of every cyclical industry.

And this is a mega cycle. Overseas players like tidewater were high $50s stock post the Lehman crash in 2008 and today they are $3 stocks. Hence I do have an interest in the sector.

None the less I do maintain a pretty decent level of doubt in relation to the turn around point. At this moment in time we are still seeing contracts cancelled early (Transocean the rig co had a big one with in the week for example), and it seems that MRMs revenue will likely in the immediate term be lower rather than higher, as the oversupply in the OSV market is nothing other than huge and the competition is immense. The run the boat into the ground approach of OSV industry is not yet changed yet from what I can see to date.

Appreciate that the OPEC news is relief to the wider oil industry, however I do not yet see any shortage to the oversupply in the OSV industry for some period of time yet. None the less, as encouraging to price, I note that some of the shorts (massive short positions) are covering on the NYSE competitors in last couple of days resulting in big SP gains (off low bases). I further note tho that those NYSE companies got a lot lower than MRM has got, and therefore that it could be argued that MRM is overpriced to industry.

Interesting times. I appreciate the banter, BR.