Thinking aloud here but what do you think will dominate the industry for the next 1-2 years? Oil majors capex discipline given poor shareholder outcomes in the past decade combined with new ESG and legal risks (Exxon and Shell rulings) Offshore wind pivot which could be a "tailwind" for the business at some point Continuing Covid and geopolitical risks (Mozambique, South America more broadly, SE Asia Covid cases)
Feels to me like it could be a tough 6 months or so and then finally some cause for optimism thereafter as the cumulative under-investment catches up with the oil industry and then at some point the OSV/PSV industry. Good that MRM balance sheet is looking a bit more positive (as long as earnings have really stabilised), means the company will probably still be around when the market does finally tighten.
MRM Price at posting:
38.0¢ Sentiment: None Disclosure: Not Held