AB,
Little risk here IMO other than Geo having to pull out of the contract. It is very likely MRM will have negotiated a BIMCO charter with Geokinetics (vessel hire contract). These are an internationally recognised framework specifically for vessel hire. They cover off payment terms etc and provide for penalties etc for no-compliance. I also expect MRM would have negotiated an up front bank guarantee of 3 months hire, just in case there is a default by Geokinetics. I expect they will have mitigated risks of the counterparty.
Cheers
BF
is geokinetics in trouble-financial covenants , page-2
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Last
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Mkt cap ! $970.2M | |||
| Open | High | Low | Value | Volume |
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