Something positive... There has been improved sentiment in...

Something positive...

There has been improved sentiment in offshore activity - eg. Tidewater which is one of the biggest OSV companies up 15% in the last month, Subsea 7 up 29% and Diamond Offshore Drilling up 18%. All have been in line with the rising prices of WTI and Brent. So the positive news is offshore O&G still has plenty of life in it. I was initially worried about the shale 'revolution' and it's impact on offshore drilling which is capital intensive but seems the high-break even cost of shale will keep offshore projects still viable.

With MRM down 15% in the last month one must wonder if something is really wrong with the company. It all looks good on paper and there are some OSV companies already starting to report losses (Otto Marine, Gulf Mark Offshore etc.) whereas MRM is still forecasting profits (largely due to construction activity though).

I suggest stay calm and let the analysts come to their senses - hopefully sooner than later...