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
MRM Price at posting:
$3.10 Sentiment: LT Buy Disclosure: Held
