Absolute rubbish.
MRM is in the offshore vessel business not the oil business.
About 2 thirds of the entire global OSV fleet is in stack. To compound this the offshore business has about another 10 percent of the global fleet on order again.
MRM is operating in a market of total oversupply and at this stage going by the industry experts (like the guy who sold Jaya to MRM) they are not ready yet to call the bottom
huge debts carried by Singapore-listed offshore firms, page-7
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