Anyone got insights into utilisation or day rates for MRM?
I'd be very curious to see if day rates had yet bottomed. I'd suspect that old contracts are rolling off at higher day rates then any new contracts, and therefore average day rates are still in the decline.
Interestingly, I also learn that modern assets are not as attractive as they used to be. I understand at the first stage of this downturn that the E and P companies that rent the boats, where are attracted to the most modern boats even if they could not get utilisation 100 percent used. However I understand now that the game has changed and those same companies are happy to rent any boat that will do the job at the costs which is lowest, even if the boat is older.
Regards the modern assets, additionally it's worth noting there seems to be a number of high spec Norwegian boats still under build and subject elective options not to but them.... So there might be a few more really nice PSVs on the market soon, brand new boats too. MRMs boats are basically all Asian and the Asian boats, with respect, are not of the same quality as others... This perhaps is a good question too for those with insights.
Any information appreciated. Perhaps questions for the AGM for those who have the opportunity to go.
MRM Price at posting:
29.0¢ Sentiment: None Disclosure: Held
