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Mightyatom

3,147 Posts.

30/01/15

11:31

Post #: 14666259
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Originally posted by aend003 ↑

Macquarie data will help those looking for comfort if they are holding this stock. But all data are HISTORY. As I have noted before, much to the DIScomfort of present holders, it is all about forward projections. And that all depends on whose crystal ball you want to use. My crystal ball says that asset write downs are inevitable for MRM because oil prices are likely to stay down for a long time. As long as the US$ has upside, then oil is going to remain cheap.

The big question is just about WHEN those asset write downs will occur? When they do, the stock will be rerated. But at the moment while everyone waits and tries to guess the contract outlook for vessels etc, sellers are in control. Don't blame short sellers for this, it is all about future earnings and they do not look promising 1-3 years ahead.

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aend003, it would be helpful to know what are these write downs you are referring to? Shipyards, slipways and supply base or fleet? The fleet is a finite item and will be subject to a pre-defined depreciation schedule, a function that will be budgeted for.

Do you see it somewhat differently or just feel write downs will occur in land and PPE on that land?

MRM Price at posting: 81.0¢ Sentiment: Buy Disclosure: Held
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Macquarie, page-6

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