No recent news from Mermaid, but looking at Gulfmark Offshore March (NYSE issues quarterly updates) latest report is sobering.
http://www.gulfmark.com/investor-home.html
Observations:
- Recent asset impairment
- Utilisation rates down across the board
- SE Asian utilisation rates seem low
- Loads of vessels everywhere are stacked and unused
- SE Asian day rates are down 10 percent since Dec quarter.
Gulfmark has a generally older fleet than MRM but if trends are similar it's not a fun read.
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