With Respect , It would be much better for all if you were to...

First 375 Last

Share
Profile

Follow
suzanmb

443 Posts.

06/06/16

07:13

Post #: 17957687
Share

Originally posted by Austinhealeysprite ↑

Hi Cantankerous.

Good post, good summary of the position in the last accounts in particular regards the impairment methodology employed, ie a 5 year value based on anticipated usage and day rates was applied.

I think it's worth mentioning that the last impairment was nearly one year ago and we have seen from competitor disclosures that OSV ultiliation and day rates are well down. A one third utilisation would seem likely and I'd be personally amazing if MRMs utilisation was any more than 40 percent in this second half when MRM finally updates the market. The likely utilisation and rate numbers would have to differ from the 5 year assumptions used by MRM to determine the impairments last June, so I expect big impairments coming up.

In relation to the sales market for boats, vessel sales have only really occurred in the market of older and lower value vessels, these around book value. This does not all go well for the valuation of the more expensive boats and therefore makes an impairment a further likelihood (certainty), other companies have talked of boats sales around 25 percent of book value.

See Gulkmark Offshore and Hornbeck Offshore investor relations websites for all details.

I don't mean to down ramp either but instead to keep posters informed.

Expand

With Respect , It would be much better for all if you were to give us the hard data , instead of making it up as you go . Not data on other companies hard data on MRM ......

MRM Price at posting: 43.0¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Trump is President Again: What Does This Mean for Crypto?

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

PR1

Nanocap Pure Resources acquires Reedy Creek garnet project, WA

PRS

Prospech finds dynamite heavy REE grades from historic core in Finland