down trend in progress, page-14

I am not sure about the larger vessel but after investigations it appears that the ROV Supporter vessel went into dry dock around early Feb 09 for quite a considerable amount of time and seems to have had either no work or very little since then and it is now December, thats a long time with no work. The amortised cost burden on that vessel including crew costs has to be a drain on reserves without a doubt.If these vessels dont work they dont just turn off the key and stop paying out. The running costs are horrendous because you cannot crew down, whether they work or not the costs per day remain pretty much the same. Dry docking is an essential part of vessel ownership but how much is being spent on them?. They both were purchased in the height of the market activity which means they probably paid a premium for them. In this highly depressed vessel market do these vessels still represent good value?. I know someone in the same market and apparently there are these types of vessels stacked up next to each other in Singapore harbour withe little forward looking opportunities.

I hope some of those new Snr Managers are in a marketing sales roles.